Best Insurance Advisor Certification Course

Looking forward to establishing a career in the insurance sector? You can get started by becoming an insurance advisor. The first step towards becoming an insurance advisor in India is to appear for the insurance advisor certification course that enables you to get the license to start selling insurance. The insurance advisor certification course is mandatory as prescribed by the IRDA without which you will not be able to get the license to sell insurance. Read on to know all about the POSP insurance agent certification course.


Selling insurance in India as a POSP

POSP, also known as a point of sale person, is a type of POSP agent who can sell both life and general insurance policies. POSP professionals can sell insurance policies by multiple companies as per the guidelines prescribed by the IRDA. To become a POSP insurance agent, you have to go through the mandatory 25 hour training course which can be done online through the tutorials available. For the insurance advisor course, you can appear from the comfort of your home via computer or smartphone.

Insurance advisor training course

During the insurance advisor training course, the below topics will be covered:

Common chapters

  • Introduction to Insurance
  • Customer Service
  • Grievance Redressal Mechanism
  • Regulatory aspects of Insurance Agents
  • Legal Principle of an Insurance Contract

Life Insurance

  • What Life Insurance Involves
  • Financial Planning
  • Life Insurance Products – I
  • Life Insurance Products – II
  • Applications of Life Insurance
  • Pricing and Valuation in Life Insurance
  • Documentation – Proposal Stage
  • Documentation – Policy Condition – I
  • Documentation – Policy Condition – II
  • Underwriting
  • Payments Under a Life Insurance Policy

Health Insurance

  • Introduction to Health Insurance
  • Insurance Documentation
  • Health Insurance Products
  • Health Insurance Underwriting
  • Health Insurance Claims

You will also receive knowledge of the following:

  • Concept and working of insurance
  • The insurance market in India
  • Premiums
  • Claims
  • Protection of policyholder’s interests
  • Grievance redressal mechanisms
  • AML and KYC guidelines
  • Do’s and Don’ts of a POSP
On successful completion of the course, you will have to undergo an online examination which you have to pass with a score of minimum 40% to become an insurance advisor. On passing the examination, you can become a POSP agent and start selling insurance.

POSP training course

As a POSP agent, you can sell various types of insurance policies including car insurance, health insurance , bike insurance, personal accident insurance, etc.
To enroll yourself for the course, you need to be at least 18 years of age and should have passed class 10th. You can appear for the POSP course either online or offline. You will be trained on the below topics:

  • Concept and working of insurance
  • The insurance market in India
  • Principles on which insurance works
  • Classification of insurance
  • Health and personal accident insurance
  • Documents required to apply for an insurance policy
  • Premiums
  • Claims
  • Protection of policyholder’s interests
  • Grievance redressal mechanisms
  • AML and KYC guidelines
  • Do’s and Don’ts of a POSP
To sell insurance as a POSP agent, you need to score a minimum of 40% and on passing the exam, you can successfully start selling insurance.

A standard policy document does not contain the following?

  • Policy schedule
  • Standard provision
  • Policy specific provision
  • Policy forfeiture provisions

What is the proof of contract between the insured and the insurer?

  • Policy document
  • Claim form
  • Nomination form
  • Proposal form

Keyman insurance provides coverage for which of the below losses?

  • General liability
  • Property theft
  • Losses caused due to omissions
  • Losses related to extended period during which the key person is unable to work

Which of the below factors does not determine life insurance premium?

  • Reserves
  • Rebate
  • Management expenses
  • Mortality

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This article is issued in the general public interest and meant for general information purposes only.
Readers are advised to research further in this regard.

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