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“Become a Point Of Sales Person, Earn huge Monthly Commissions from comfort of your Home.”
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When it comes to earning, everybody wants to earn as much as possible.
That is why you put in extra hours, look for other sources of income and toil hard to make that extra buck. After all, money helps in making life comfortable, doesn’t it? Think of a business activity which can be conveniently done along with your existing job. And that too, by selling required products to your friends and relatives.
Selling insurance is a lucrative career. It offers unlimited possibilities for you to earn money. With a career in insurance you can -
That is why insurance sales is favoured by many and those who pursue not only make money, they also build a name for themselves in the insurance industry.
Do you understand the earning potential in insurance sales?
Many of you don’t. So, here is a complete guide to help you understand how you can make money by selling insurance -
Levels of earning in insurance:
When you sell insurance policies, you earn money in three levels or ways. These include the following -
First year commissions
The first level to earn money is the first-year commission payable on all insurance policies you sell. Whether you sell life insurance policies or general insurance policies, you would earn a first-year insurance commission on the premium you bring in.
Renewal Commissions
If you thought insurance policies promised only a first-year commission, you are wrong. Every year when your customers renew their vehicle insurance policies or health insurance policies and pay the renewal premium, you also earn renewal insurance commission. This commission is also calculated on the renewal premium.
Rewards & Recognitions
The earnings promised by insurance sales does not end at the commissions only. There is also a rewards and recognition program which promises gifts in cash and kind if you perform well and meet the sales criteria laid down for the reward program. Moreover, there are internationally recognised convocations which are held every year for the top-performing insurance advisor. These convocations recognise the achievement of leaders of insurance sales.
Commission structure
So, now you would be interested to know how much you can earn throughout your active work life… So, here is a look at the commissions which you can earn by selling different types of insurance policies :
| Types of insurance plans | Applicable commission rates on commissionable premium |
|---|---|
| Motor insurance policies (both car and bike insurance) |
Comprehensive insurance policy on a private car - up to 15% of the premium paid for own damage (OD) cover Comprehensive insurance policy on commercial vehicles - up to 15% of the premium paid for own damage (OD) cover Comprehensive insurance policy on a two-wheeler - up to 17.5% of the premium paid for own damage (OD) cover Third party policies on all types of vehicles - up to 2.5% of the premium paid annually |
| Life insurance policies |
Policies with regular premium paying option – up to 30% of the annualised premium, based on policy paying term (PPT) Policies with single premium paying option– up to 2% of the single premium, based on policy paying term (PPT) |
| Term life insurance policies |
Policies with regular premium paying option – up to 30% of the annualised premium, based on policy paying term (PPT) Policies with single premium paying option– up to 2% of the single premium, based on policy paying term (PPT) |
| Health insurance policies |
Up to 15% of the annualised premium, based on policy paying term (PPT) |
Disclaimer : The above list is not exhaustive and the commission rates may be amended by the Regulator from time to time. For more details/complete particulars, you may visit IRDAI website at www.irdai.gov.in
Aren’t the rates quite attractive? Can you imagine how much you can earn by selling different policies? Here is an illustration for your knowledge -Let’s say you sell four different types of policies to four of your contacts. Each policy has a different premium and gives you a different commission. Supposing, here’s what you sell to your contacts -
| Name of your contact |
Type of policy sold |
Premium amount (assumed) |
Applicable commission rates on commissionable premium (assumed) |
Commission Earned (Rs.) |
|---|---|---|---|---|
| Hardeep | Term life insurance | 18000 | 35% | 6300 |
| Shyam | Health insurance | 15000 | 15% | 2250 |
| Balaji | Car insurance | 11000 | 12% | 1320 |
| Shankar | Bike insurance | 1200 | 12% | 144 |
This is just the beginning. The same customers may buy a new vehicle and you can earn more commission. The premium on health insurance will increase as the customer grows old, again resulting in higher commission. And, not to forget the references from your customers, who are happy with your service. Insurance sales, therefore, gives you an easy and an attractive avenue to make money. You can earn a handsome income just by selling insurance policies to your contacts.
How to start a career in insurance?
It gives you the scope of unlimited incomes and is thus a promising career. If you are also looking to make money by selling insurance policies, you don’t have to look further. AIBPL gives you an easy way of becoming an insurance partner. You can become a Point of Sales Person (PoSP) and start your career in insurance sales. As a Point of Sales Person (PoSP), you can sell policies of leading life and general insurance companies and earn handsome insurance commissions. AIBPL would provide you with end-to-end support in selling insurance to your clients. Right from finding the most suitable policy to ending the sale and earning commissions, AIBPL gives you complete assistance.
You should be aged 18 years and above
You should be at least 10th Grade Pass
and do not hold an IRDAI agent license.
Joining process :
The joining process is easy and is done online. You just have to register with AIBPL and furnish your KYC documents.
Thereafter, you would have to undergo a simple training module of 15 hours as per the guidelines specified by the Insurance Regulatory and Development Authority of India (IRDAI). The training modules are simple and imparted through educational videos. You can even access the modules on your Smartphones and complete the training as per your convenience.
After you have completed the training module, you need to appear for a simple online examination. This exam is also created as per IRDAI guidelines.
Once you clear the exams, you get a license to act as a Point of Sales Person (PoSP). Thereafter, you can sell various insurance policies of leading insurers and earn as much commission as you want.
Insurance sales gives you an opportunity to earn money as per your convenience and as much as you desire. It is a lucrative career opportunity and AIBPL gives you the perfect solution to become a Point of Sales Person (PoSP) and start your career in insurance. So, what are you waiting for? Register with us and open the doors to an opportunity to earn unlimited incomes.