Life insurance agents are individuals who are eligible to sell insurance products like health, disability or accident insurance products to prospect clients and facilitate them with a shield of security through the policy. They act as a guide to policy buyers and existing policyholders to understand the best-required life insurance policies and advise them as per the requirements. They can work for an insurance company or leverage the opportunity through financial service providers which connects them to various insurance companies through their platform giving them an opportunity to enhance a successful career with independence and convenience.

The primary role of an insurance agent is to create awareness of the various types of policies available that best fit the insurers lifestyle is the main work of the Agent. Life insurance holders will be charged a higher premium if medical data, age, or hobbies indicate a higher risk.

Term Insurance Agent

A term insurance agent is a mediator to the insurer who negotiates and sells insurance contracts on behalf of the insurance company.

Term insurance is one of the most sought after policies issued by insurance agents as it provides cover to all the family members. Hence, term insurance provided by these agents covers a large amount of life cover at a relatively economical rate.

Term insurance is one of the categories of a Life insurance that is procured to provide financial coverage to the nominee in case of any unfortunate demise of the policyholder; provided the death has occurred within the period of the policy coverage. This type of policy provides high life cover at minimum premium rates. All kinds of deaths are covered under a Term Insurance Plan, including any natural calamity, illness, accident and murder. However, death due to suicide in the first year of policy is not covered.

One should acquire the policy as it is a beneficial proposition in case of a sole bread earner especially and can be a substitute for the future of your loved ones. Term insurance are comparatively less expensive form of life insurance as the premiums are quite affordable.

Who Can Become A Life Insurance Agent

Anyone who wishes to create an additional income can choose to become a Life insurance agent. Right from students up to 18 years, homemakers, retirees and also working individuals can earn an independent life for themselves as well as contribute to their familys financial growth treating it as a passive income.

In order to start a career with a financial service provider such as Choice Connect you need to have obtained minimum education qualification, be 18 years of age and have gained the specified hours of training as specified by IRDA.

Benefits Of Becoming A POSP Life Insurance Agent

As a Life Insurance Agent, the perks you can enjoy can be monetary, social and personal. So these benefits can drive you to become an insurance agent which can increase untapped potential in yourself:

Early Starters are Welcome

Any senior secondary student can become independent by starting to earn a decent amount of salary at such an initial age of his/her life which can increase confidence as well as self-independence in himself.

Be Your Own Boss

Becoming a life insurance agent gives you the flexibility to work on your own terms thus achieving financial freedom and independence to be your own boss.

Investment Required of Time and Efforts

The only thing you require is time and effort as it is a zero investment proposition. At the end of the day, it is you who has to decide your target.

Flexible Work Timings

Work from anywhere at any point in time with no predefined targets in place.

Rewards & Recognition

You get an opportunity to experience various national & international forums through which you gain training as an insurance agent. While your commission earnings are always there, these enriching experiences are a cherry on the cake.

Life/Term Insurance Agent Commission

A life insurance agents commission varies on the type of insurance and the insurance company through which it is sold i.e. from a varied option of life insurance policies, one can select and there are various insurance companies too who provide such kind of an insurance. Hence, this is one is of the most popular type of insurance as it can serve as a chief source of income to many.

The bracket for the life insurance commission is also wide enough depending on the policy and premium generated. Most of them provide attractive commissions on the premium. Thus, the commission earned is on the premium charged for the purchase of the policy.

Life Insurance Agent Roles And Responsibilities

The role and responsibility of a life insurance agent (licensed professional) is to promote and sell insurance products and services to its customers. The primary role is to:

• Guide and Sell life insurance policies
• Work with clients and beneficiaries to process insurance claims promptly
• Provide advice to clients and recommend insurance products.
• Act as a mediator between insurance companies and clients.
• Provide good customer service to maintain and retain clients.
• Expand the customer base.
• Set a Meeting Target
• Know Whom You are Selling to
• Attend Post Sale Queries

Minimum Eligibility Criteria For Life Insurance Agent

To start a career as a life insurance agent, your educational qualification should be at least 12th pass, the age should be minimum of 18 years and above.

Candidates should have completed a 15 hours training program specified by IRDA.

Also, he/she should have these documents:

• Identity proof - Aadhar card
• Address proof
• PAN CARD copy
• Some copies of one's photograph
• Highest education certificates

With the completion of these eligibility criteria, one can be a professionally licensed life insurance agent and can achieve their dreams. These criteria are mandatory for anyone who wants to be a POSP Life insurance.