If you are planning to join Policybazaar as an Insurance PoSP (Point of Sales Person), you’re probably wondering; how much can I earn? The answer is simple: your earnings potential is directly linked to your effort, product mix, and network. With the growing demand for insurance across India — from motor and health to life and travel — the opportunity to build a sustainable, high-income career as a PoSP has never been greater.
Policybazaar Insurance PoSP - Understanding the Role
A Policybazaar agent partner is also known as a PoSP (Point of Sales Person) insurance agent. They help customers find, compare, and buy various insurance products, such as health, life, motor, and more, through the PBPartners platform ( brand of Policybazaar ). Unlike traditional insurance agents who work only for one insurance company, Policybazaar insurance advisors are free to offer products from multiple insurers at the PBPartners platform. It can be either a part-time or full-time job, which requires minimal investment, and anyone who is 18 years or older with a basic educational qualification can become an agent.
Insurance Agent Salary Per Month in India
If you are considering an insurance career, one of the first things you might be wondering is - how much can I earn?
Well! There is no cookie-cutter approach to answer this. Earnings in this field can vary widely depending on your effort, the kind of insurance you sell, your network, and the company or platform you partner with. In this profile, income usually comes from commissions, performance bonuses, and long-term incentives. So, the more you put in, the more you stand to gain. Moreover, over the years, as you build your client base and gain experience, your earning potential can grow substantially.
Key factors decide your earning potential as an insurance PoSP
- Insurance Type: The insurance product you deal with, such as life, health, motor, or general insurance, can impact your earning potential to a great extent. For example, motor insurance often offers longer-term earning opportunities through renewal commissions, whereas general insurance policies might generate quicker, short-term commissions.
- Policy Premium Value: Higher-premium policies generally help you get higher commissions. So, if you sell comprehensive or long-term plans, you are likely to get better returns, especially when they involve larger investments from the client.
- Sales Volume: Agents who create a strong client base and maintain regular follow-ups tend to perform better in terms of both revenue and client retention. The more sales volume you handle, the bigger pay cheques you are likely to get. It is as simple as that.
- Client Retention and Renewals: The more clients you happen to retain and the more renewals you do, the more you add to recurring income. This long-term relationship-building helps create a stable income over time.
- Affiliation and Support: Your association with a reputed insurance company or platform can provide better training, digital tools, marketing support, and incentives, all of which can influence how well you perform and, in turn, how much you earn.
- Marketing Skills: Then come your marketing skills. Using the power of social media, digital marketing, and personal contacts is an added advantage. It will help you improve your policy sales to a large extent.
- Target Market: If you focus on urban clients, you are likely to sell more premium products than someone dealing with a smaller-town clientele.
- Work Hours: Although you can always work as a part-time insurance agent, putting in full-time hours can boost your earnings considerably.
Become an Insurance PoSP with: The Process
If you are looking for a flexible career with attractive earning potential in the insurance sector, here is how you can join the Policybazaar team:
Eligibility Criteria: If you are 18 years or older and your minimum educational qualification is 10th pass, you can register as an insurance agent with Policybazaar. The registration process is entirely online.
Complete the Training: To get your license, the next step is the mandatory small training as per IRDAI (Insurance Regulatory and Development Authority of India). Policybazaar will help you with the same.
Start Selling: Once you complete the training, you can start selling policies through the Policybazaar app or portal.
Key Benefits of Joining PBPartners ( Brand of Policybazaar).
The following are the reasons why you should choose Policybazaar:
Wide Insurance Network: Unlike traditional agents tied to one insurer, Policybazaar agents can offer policies from various companies.
Digital Tools: You don’t need a physical office; Policybazaar provides all the sales tools via its mobile app and website.
Flexible Working Hours: You decide when and how much you want to work.
Free Training and Support: Policybazaar offers onboarding support and training at no extra cost.
Frequently Asked Questions (FAQs)
How long does it usually take to start earning?
Although it varies from person to person, entry-level agents may take a few months to start generating a consistent monthly income, depending on their effort, client outreach, and the types of policies they sell.
What do I need to become a PoSP agent with Policybazaar?
You need to meet certain requirements to become a PoSP agent -
- Should be 18 years of age.
- Pass your 10th grade.
- Clear the IRDAI exam after a 15-hour training program for a license.
Will I earn commissions during policy renewals?
Absolutely! Many insurance products let agents earn renewal commissions. It means you will earn a percentage of the premium when clients renew their policies. Thus, it creates a recurring income stream over time.
Is it possible to work on a part-time basis or alongside another job?
Yes! Many students, retirees, homemakers, and even those who are looking to supplement their income work on a flexible or part-time basis. Many insurance agents, especially PoSP, work alongside another job.
