7 Benefits of Becoming an Insurance Agent
29 May, 2024
168 Shares
915 Reads
Share
An insurance agent deals with a customer directly to advise them and sell them insurance plans based on their needs. This can be done both in terms of selling policies from a single insurer or mixing and matching different policies from several insurers to fit your customer best.
Over the past several years, a growing number of people have been attracted to becoming an agent. If you are someone who is looking into becoming an insurance agent, you might be wondering about some of the benefits of becoming an insurance advisor.
These benefits are both tangible and intangible, ranging from money to upskilling. Let us explore seven benefits offered to insurance agents and how you can become one here with Niva Bupa.
What kinds of agents are there?
The primary benefits offered to agents depend on the kind of agents they are. This typically involves agents who are either in full-time employment of a single insurer in the form of a captive agent. In comparison, there is another type of agent called independent agents, who are affiliated with multiple insurers or work for a broker to sell various policies.
Benefits of becoming an agent
There are several benefits linked to becoming an agent. These benefits are listed below:
- Stable Income
Becoming a captive agent typically offers a stable income through salaries. This is good for full-time agents.
- Secondary Income
Those who otherwise have full-time employment and just wish to earn more money can get a secondary source of income by selling insurance policies.
- Commission & bonus
Captive agents and independent agents receive commissions based on their sales, which typically range from 10-20% of the premium. And as there is no commission cap, they can earn, selling more policies nets a higher commission value. Some companies also offer a bonus if the agent has hit certain targets or exceeded them, adding a bit of additional income.
- Flexibility
As an independent agent, you are your own boss and can set your work timings yourself. This provides a great amount of flexibility to do things at your own pace.
- Independence
You can become an agent as early as 18 with minimal educational qualifications, this allows people to become financially independent earlier in their life and even support their families.
- Upskilling
Selling policies involves dealing with hundreds of people in a month. This means you interact with people from all walks of life and backgrounds. This helps in networking and also building up skills like communication and sales/marketing tactics.
- Zero Investment
Unlike an insurance broker, becoming an agent requires zero investment and can be a great way to earn money.
How to become an agent for Niva Bupa?
Becoming an agent for Niva Bupa is very simple. You must ensure you are over 18 and have a valid Aadhaar and PAN Card. And you have completed your 10th if you are from a rural area and 12th if you are from an urban area.
You will also be required to take a 15-hour IRDAI-mandated training to complete your Point of Sales Person certification and obtain a license to become an insurance agent. This process usually takes a few weeks but is very simple.
You just need to follow the given instructions, and you should be good to go!
You must complete the Point of Sales Person form and submit the required documents.
Complete your 100-hour IRDAI-mandated training with Niva Bupa
Complete the simple prescribed examination
And sign the contract with Niva Bupa to get the title of POSP
Niva Bupa will help you with everything once you fill out the form on the https://www.nivabupa.com/become-an-agent-portal.html page.
Wrapping Up
These are some of the benefits of becoming an agent and the steps to becoming an agent for Niva Bupa. You can jumpstart your career by earning a salary between ₹20,000-50,000 plus commissions and other tangible or otherwise benefits with Niva Bupa, so apply now and become an agent!
Secure your Health with comprehensive insurance plans from Niva Bupa
Popular Searches - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Health Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance Plans - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance UK | Travel Insurance Germany | Travel Insurance Bali | Travel Insurance Vietnam | Travel Insurance Dubai | Travel Insurance Singapore | Schengen Travel Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
COVID - Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
14th Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.