A POS agent is someone who will be appointed by PolicyX to sell insurance policies online anywhere, anytime. This will include selling of basic insurance products like Life Insurance, Health Insurance, Motor Insurance, Travel Insurance etc.
Manage Your POS Resources
PolicyX brings you the opportunity to work and earn at your leisure by selling basic insurance policies online. We give you a chance to come on board and become a full time trained agent or a part-time agent. You get an employment opportunity to work and earn from anywhere by becoming a PolicyX agent by selling simple insurance policies online. No physical work required.
You get to offer multiple products to your customer to choose from.
Our process does not involve any physical strain. Every step from filling in the basic information to booking a policy is available on our portal.
Work-From-Home or Work from anywhere, anytime.
Anyone who wants to earn an extra income or make a career in the insurance industry can become a POS agent. If you think you have a neck for selling and can make people aware of the importance of insurance then you are the one. You may be a Housewife, a Student, a Working Professional, a Retired Person, a Business Man, you can be anyone!
Fill in the simple details for registering yourself by clicking on the link. Takes only about 5 mins.
2 Submit Documents
You have to submit some mandatory documents to proceed ahead (refer below for the documents)
3 Prepare for Test
This is a mandatory 15-hour training which you will get after logging into your account.
4 Appear for Test
After training, you will be eligible to apply for a test for 90 minutes consisting of simple objective questions.
5 Get POS Certificate
After successfully completing the test you will get a POS certificate provided you are not associated with other insurance company.
6 Start Booking Policy
Once you are certified POS agent you will be able to book policies and start your own business.
18 years and above
Aadhar Card number with soft copy to be uploaded
PAN Card number with soft copy to be uploaded
Education Certificate (10th or 12th marksheet)
Cancelled cheque copy or front page of passbook
1 Passport size photo
You can take unlimited attempts to clear this exam
18 out of 50 marks are required to pass i.e you only need 36% to clear the examination.
No, you cannot. As per the guidelines of IRDAI, a person can become a POS agent for only one insurance company or insurance aggregator. If you are already registered with a company as a POS agent then you will have to give up that license to become a PolicyX POS agent.
You will receive your certificate after one month of completion of your exam but you can start selling the policy once you have cleared the exam.
The more you sell, the more you earn. For every policy you sell you get the percentage of premium as per below table:
|Term||15%||0%||Net Annualized Premium|
Some companies offer monthly mode of payment usually for life insurance policies. For these policies annualized premium is considered which is 12 times the monthly premium.
For eg. Suppose a customer pays the premium of Rs. 11800 in which net amount is Rs. 10,000 and Tax is Rs. 1800. So your remuneration will be payable on Net Premium Amount i.e Rs. 10,000.
Every comprehensive policy consists of OD (Own Damage), TP (Third Party) and TAX.
For e.g: For a Hyundai Verna 2016 model the premium is: Rs. 20851 which includes:
OD Premium: Rs. 14602
Third Party Premium: Rs. 2963
Tax: Rs. 3181
*Third Party Premium and Tax is Govt. Defined
*OD Premium is insurance company defined hence, remuneration is payable on this
So, the premium paid will be 15% on OD premium i.e: 15% X 14602 = Rs.2190
For e.g, Your monthly premium done is Rs. 1100 and your annual premium done is Rs. 13000, then the premium payable will be on your annualized premium (Rs. 13000) which is called Net Annualized Premium.
Date on which the policy is issued will be considered for deciding the calendar month in which the business has happened.
Our payments are released on 5th of every month.
E.g 1 - Policy issue date = 15th March
Free look period ends = 30th March
Payout will happen on = 5th April
E.g 2 – Policy issue date = 5th April
Free look period ends = 20th April
Payout will happen on = 5th May
You are eligible for 15% of the premium on every policy sold.
We have a fixed percentage of 15% remuneration on premium irrespective of the type of policy.
TDS will be deducted @10% from all payouts.
No, GST will not be applied to the payout.
No, we don't give any commissions for Onboarding more POS agents. However, there are other recognition benefits that you get if you promote our brand and help others become POS agents.
Log-in to your account and click on Get Quote.
Select a product (Health, Motor and Term) and click on "Proceed now to get quotes" (If you want to sell the policy to customer instantly)
Click on "Want to send link to customer" (If you are selling policy from a distance like phone then you can send the link to customer where he/she can do the proceedings themselves)
Fill in basic customer details and click on "Proceed to get quotes"
Choose a plan
Fill the proposal form which will involve details like age, medical history, identification of the customer (usually takes 5 minutes)
Make payment online (you can assist the customer in online payment via net banking, debit/credit card)
PolicyX (PX) verification ( PolicyX will call the customer to ensure that there is no misselling in the process)
Issuance and policy copy will be sent to the customer via email (for some companies even hard copy of the policy is couriered)
*Underwriting can be of two types:
Straight Through Issuance (STP): In STP, the insurer agrees to issue the policy immediately based on the proposal form. There are set guidelines that differ from insurer to insurer based on which the policy is issued.
Non- Straight Through Issuance (NSTP): In NSTP, there can be one or more of the following:
Based on the above two scenarios, the decision regarding policy issuance is taken.
No, you cannot as we do not deal in the policy for which the quotation is not available on our portal.
Only POS enabled plans will be available in your account.
A dedicated team at PolicyX will take care of the policy issuance. Your job is till step-6 and post that we will take care of the rest.
We will update the policy issuance detail on your dashboard. By logging into your account you will be able to see the updated status of the policy.
If you have queries reach out to us at firstname.lastname@example.org
No, as a PolicyX POS agent you are your own boss. There are no targets.
No, please reach out to us at email@example.com and all your queries will be resolved shortly.
We love feedbacks. Again, simply mail us at firstname.lastname@example.org and we will try our best to serve you better.