Benefits of Becoming an Insurance Agent
An insurance agent sells policies to buyers and advises them on various issues related to insurance. As an insurance agent, one can work full-time as an employee with a particular company or be an independent agent and work with multiple insurers.
You can sell health insurance, vehicle insurance travel insurance, home insurance, and several other types of insurance products.
Many individuals opt to become an independent insurance agent even while being employed at another enterprise, to gain additional income. To become a PoSP and an insurance agent, you must undergo a 15-hour training period and qualify for the IRDAI exam.
Top 10 Benefits Available to Insurance Agents
The eligibility criteria to appear for the insurance exam and become a PoSP or aninsurance agent include a minimum qualification of passing the 10th and a minimum age limit of 18 years.
Becoming an insurance agent comes with a host of benefits:
Zero investment
Along with a steady amount of dedication, there is no other investment required to be an insurance agent. The tools, resources, and study materials required to become an insurance agent can be accessed via the IRDAI site and the insurance provider’s website easily.
Flexible working hours -
A PoSP or an independent insurance agent can sell policies at their convenience, or whenever they see a prospect.
Also Read: How to Become an Insurance Agent in India
No limit to earnings
One of the best benefits of being an insurance agent is that there is no upper limit to earnings. Your earnings depend on how many insurance policies you can sell.
A connection with your customers
To sell insurance means to sell a product that can help secure an individual’s future, health, finances, business enterprise, and so on. Working to insure these aspects helps you connect with your customers and add value to their lives.
Freedom to set your own goals
An insurance agent is their own boss. While working independently, you can set your own goals, targets, and then create a strategy to achieve them.
Ample opportunities for growth
There are various levels to being an insurance agent. The more insurance policies you sell and acquire expertise, the more there is scope for you to grow.
Chance at a successful, rewarding career
With the right kind of determination and drive, you can create a successful career in insurance. Top insurance agents get rewarded at the organisational level as well as the industry level.
Learning opportunities from industry experts
You get to work with the top experts in the insurance industry, such as the managers, underwriters, and agents, obtaining professional learnings from them.
Increased ease of working via digitalisation
With so many insurers providing online services to their consumers nowadays, it has never been this easy and profitable to be an insurance agent.
Evergreen career path
Insurance is an industry that has always been relevant and will be so for a long time. Risks are ever-present, and as an insurance agent, the products you sell will always be required by the public.
Things to consider before selecting the best organisation to become an insurance PoSP
As an insurance agent, you can carve a successful path for yourself while adding value to your policyholders’ personal lives.
Looking for the right company to become an insurance agent with? Before you finalise one, ensure that the organisation has the following features:
- A diverse range of insurance products related to health, vehicles, motor, home, travel, accidents, and so on.
- A strong organisational infrastructure that you can reach out to in case of challenges
- A good reputation and credibility in the insurance industry
- Efficient and punctual processes when it comes to receiving commissions
- A robust digital presence, to make things easier for you as an agent