Benefits of Becoming a Star Health POSP Agent
Following are the benefits of becoming a Star Health POSP insurance agent:
Flexibility in Work:
If you are looking for a remote opportunity to work, become a Star Health insurance advisor. Under this profession, the agents can work at their convenience and attain a better work-life balance. Furthermore, you can boost conversions by organizing meetings with clients as per their availability.
Multiple Plans:
Star Health offers various insurance plans to cater to the unique needs of its customers. You can understand the needs of your customers and suggest plans for them. For instance, if your client wants to ensure financial security during medical emergencies for their parents, you can suggest a senior citizen health insurance plan to them.
Regular Earnings:
You can evolve yourself by selling Star Health insurance plans over time. In addition to making new customers, you can earn a commission through policy renewals of existing customers. As a result, you will create a regular flow of income in the future.
Zero Investment:
To become a Star Health POSP advisor, the most important investments you will need are your time and continuous efforts. In simple terms, you don’t have to take the risk of investing a huge amount of money to start a business.
Eligibility Criteria To Become POSP Agent
The eligibility criteria to become a Star Health POSP agent are as follows:
- You must be at least 18 years old.
- Must have a 10th-grade certification.
- Aadhaar card and PAN card linked to your bank account.
- Qualify 15-hour onboarding course mandated by the IRDAI.
How Much Can You Earn By Becoming Star Health POSP Agent?
Star Health and Allied Insurance Company pays a commission to the POSP insurance advisors for selling insurance plans. Therefore, your earnings as a Star Health POSP agent will depend on the number of health insurance plans you sell. Additionally, you can earn a commission on policy renewals for existing policyholders.
A commission paid by the insurer depends on the sum assured of the plan and additional benefits included in the plan. You may earn a higher commission for selling a high-coverage insurance plan.
Agent Onboarding Process
Submit Below necessary documents:
- PAN Card
- Aadhaar Card
- Digital Signature
- Passport-sized Photograph
- NEFT Details (Cancelled Cheque)
- Educational Certificate (Minimum qualification: 10th Grade, as per IRDAI regulations mandate)
Download
Form 1A and collect the MIS form . Complete both forms and submit them .
3Collect the non-premium receipt also from your nearest STAR Health branch. This receipt is for the pre-recruitment exam and is refundable if the candidate attends the fresh exam.
4Once all documents and forms are submitted, your application will go through scrutiny and verification.
5Upon successful verification, the application will be validated, and the training module will commence.
6STAR Health provides the training module in an audio format, allowing visually impaired candidates to complete the training at their own pace.
7Upon completing the training and receiving the certificate from the STAR Health’s training academy, the business codes team will generate the URN and Batch ID, and schedule exam slots for the IRDAI IC38 Insurance Advisor Exam.
8The Insurance Institute of India (III) will make efforts to accommodate candidates with disabilities of 40% or more if requested. Candidates must submit a disability certificate issued by an authorized medical authority to the STAR Health branch to upload in the AEMS portal to secure approval from the Insurance Institute of India.
9Visually challenged candidates can be assisted by a person who is unconnected with the insurance industry and has no prior knowledge of insurance. Submit the ID Proof of both candidate and scribe [assistant] to the STAR Health branch to upload in the AEMS portal. STAR Health will provide a letter to the Insurance Institute of India stating that the candidate is visually challenged and a scribe from non-insurance background will assist him.
10The assistant must carry a photo identification (with a photocopy) to the examination centre. To avoid inconvenience, inform Insurance Institute of India of the assistant’s details at least ten working days before the exam to ensure approval.
11The exam is conducted online at designated centres. It lasts 1 hour long and carries 50 marks. Results are announced the following day on the Insurance Institute of India portal.
12Upon passing the exam, the agent code will be issued, and the candidate will be onboarded as a STAR Health Insurance Advisor.
Remarks - The above-mentioned documents should be submitted in AEMS portal to facilitate applicant IC38 examination for onboarding process and for
- Agent Code Activation
- Agent Details Updation
- Agent Transfer
- Agent Deactivation [Form 1C]
- Agent Reactivation
- Agent Reappointment
- Legal complications
- Overall Company Data Maintenance
- IRDAI Auditing
