Can a PoSP offer both life and basic insurance coverage?

As a PoSP (Point of Sale Individual) you can offer policies of numerous insurance provider, throughout both life and non-life classifications, such as term life, ULIP, endowment life, motor, health, individual mishap, house and travel.

Who can offer policies of numerous life and non-life insurance provider at a time?

Presently, the insurance coverage regulator permits just a connected system of representatives, where each representative is just permitted to offer policies of one life insurance company, one non-life insurance company and a standalone health insurance company.

Who can offer life insurance coverage items?

Insurance coverage intermediaries function as a bridge in between customers (looking for to purchase insurance coverage) and insurance provider (looking for to offer those policies). Insurance coverage brokers are certified by the IRDAI and governed by the Insurance coverage Regulatory and Advancement Authority (Insurance Coverage Brokers) Laws, 2018.

How do I end up being a PoS?

Comprehending PoS Representative For This Reason, if you wish to get accredited as a PoS representative, you require to obtain signed up with an insurer or broker. Take the requisite training, research study, and pass the IRDAI test with a specific minimum portion.

The number of insurance coverage types exist?

4 Various Kinds Of General Insurance Coverage in India. General insurance coverage covers house, your travel, lorry, and health (non-life possessions) from fire, floods, mishaps, manufactured catastrophes, and theft. Various kinds of basic insurance coverage consist of motor insurance coverage, medical insurance, travel insurance coverage, and house insurance coverage.

Can a business representative offer more than one life insurance coverage policy?

Till now, business representatives were permitted to offer policies of just one life insurance coverage and one non-life insurance provider. Manoj Kumar Jain, CEO of Shriram Life Insurance coverage Business specified in BusinessLine–” Market requirement is that it must be made obligatory for business representatives to have tie-ups with more than one insurance company.

Can you have more than one kind of non life insurance coverage?

You can have more than one kind of non-life insurance coverage. The essential thing to note is non-life insurance coverage is important, and you ought to think about getting one if your circumstance requires it. Below are the various kinds of non-life insurance coverage and a list to identify if you require the following:

What do you suggest by non life insurance coverage?

What Is Non-Life Insurance coverage? In other words, non-life insurance coverage is any kind of insurance coverage besides life insurance coverage. While life insurance coverage is broken down into long-term and term life policies, non-life insurance coverage consists of lots of kinds of other insurance coverage. Non-life insurance coverage might cover individuals, residential or commercial property or legal liabilities.

What sort of license do I require to offer life insurance coverage?

It’s actually called a Gross Dealership Concession, or GDC. And after that the broker-dealer pays a part of that to you as their agent. That’s the settlement for providing the business’s brokerage services to the customer. So, if you wish to offer securities items, you require a Series 6 or a Series 7 license.

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