How to Become a Max Life Insurance Agent

Max Life is one of the largest insurance companies in India. It has a great consumer base with more than 32 lakh insurance buyers.

Max Life Insurance Company has more than 10,000 employees with 54,791 Max Life Insurance advisors across the country. The company has 210 offices in India. An individual may become a Max Life Insurance advisor and sell their policies to earn a considerable income.

Quick Link: Become an Insurance agent

A Max Life Insurance Agent is a mediator between the insurance company and buyers. He helps the buyer in purchasing the insurance policy. The agent suggests plans which are generally budget-friendly. He addresses the queries of the buyers and helps in filing the claims. 

Here are some key highlights of Max Life Insurance Company.

How to Become a Max Life Insurance Agent?

The company offers many opportunities to earn Max Life Insurance agent commission. The Max Life Insurance agent commission is the amount that the agent receives from the insurance company after selling its policies. The company always welcomes new talents to join the company. 

Here are the steps one needs to follow to become a Max Life Insurance agent. 

• Qualification

A person needs to have a 12th-passed degree or equivalent to become the Max Life Insurance advisor. The recognised institute conducts the exam in case of an equivalent degree where the applicant resides in a place with more than 5000 population. He also needs to have a 10th-pass degree or equivalent. 

• Training

The applicant needs to attend a 100-hour session if he wants to become a General Max Life Insurance advisor. He needs to attend the training session from an approved institution. The applicant also needs to attend 150 hours long training if he wishes to become both a general and life insurance agent. 

• Examination

The applicant needs to appear in the written examination after the completion of the training. The Insurance Institute of India conducts the written examination.

Benefits of Becoming a Max Life Insurance Advisor

Here are the benefits of becoming a Max Life Insurance Advisor.

• Easy Access

It is easy to become an insurance agent. A person does not need a high school diploma to perform the job of an insurance agent. He only needs to complete the training session and pass an exam. The exams and training are relatively easy to complete. 

• Rewards

Insurance companies offer considerable rewards to their agents. The commission for auto insurance is 10% to 15% of the premium. Similarly, the commission for health insurance is up to 7%. Life insurance pays 100% of the premium to the agent. Therefore, if an agent sells INR 10,000 of insurance monthly, he may earn INR 12,000 annually by selling a life insurance policy.

How Becoming a PoSP Advisor is Better Than Becoming a Max Life Insurance Agent?

A PoSP in insurance is another type of license. IRDAI (Insurance Regulatory and Development Authority of India) introduced the concept of PoSP in 2015. A PoSP works as an insurance agent. He may sell different kinds of policies of many insurance companies. However, a normal insurance may sell the policy of only one company. The IRDAI introduced the concept of PoSP advisor to meet the unique demand of the buyers. The PoSP license allows the agent to sell insurance policies of many companies. Hence, it also increases the earning scope for an agent. 

A person may easily become a PoSP advisor by attending the training session and clearing the exam. After the exam, he may receive the license and sell the policies.

Steps to become a PoSP agent with PBPartners

Step 1:

To become a PoSP agent partner with PBPartners click on the ‘Registration’ button on our website and enter your contact number. This will send an OTP to your registered mobile number that you need to enter to verify your account. This number will be your official registered mobile number.

Step 2:

Post verifying your OTP, you will need to fill in your basic information, share your PAN details and a few more demographic information.

Step 3:

Post sharing all this information you are required to undergo a mandatory 15-hour training which is followed by an online examination. Upon successfully clearing this examination, you are given an appointment letter as our PoSP agent partner that authorizes you to sell policies.

Conclusion

A Max Life Insurance agent may also become a PoSP. He may attend the training session and clear the exam. Once he clears the exam, he may receive the PoSP license and sell the policies of many insurance companies including Max Life. A PoSP advisor may enjoy a flexible working hour like a normal insurance agent. He may also increase his income by selling more insurance policies.

FAQs

Q. Who can become a PoSP advisor?

A. Here are the persons who may become a PoSP. 

• Home-maker
• Self-employed
• College student
• Retired employees

Q. How to become a good insurance agent?

A. One may become a good insurance agent by attending the training sessions and clearing the exam. One also needs to attend the regular training sessions that the insurance company organises. 

Q. Explain the concept of a Max Life Insurance Agent Vs PoSP agent.

A. Max Life insurance agent is a normal agent. He may only work for Max Life. However, a PoSP is a new concept. A PoSP may sell different kinds of policies of many insurance companies including Max Life. 

Q. What document do I need to become a PoSP?

A person needs to have the following documents to become a PoSP.

• 10th Class Marksheet
• Adhaar Card
• Bank Account
• PAN Card

Q. Can a normal agent become a PoSP?

A. Yes, a normal agent may also become a PoSP. He needs to attend the 15-hour training session and an exam. 

Q. Do I need to make any investment to become a PoSP?

A. No, a person does not need to make any investment to become a PoSP. He only needs to give his time to the work. He should have a smartphone or laptop to contact the client and sell the policies.

Q. What are some benefits of becoming a PoSP?

A. Here are the benefits of becoming a PoSP.

• A person may enjoy a flexible working hour. He may work whenever he wants. 
• An agent does not need to complete a diploma to become a PoSP. He only needs to clear the exam. 
• A PoSP agent may sell different kinds of policies and earn a good reward on every policy.