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Selling insurance as a career

When it comes to earning, everybody wants to earn as much as possible. That is why you put in extra hours, look for other sources of income and toil hard to make that extra buck. After all, money helps in making life comfortable, doesn’t it? Have you considered insurance as a source of earning money?

Selling insurance is quite a lucrative career. It offers unlimited possibilities for you to earn money. With a career in insurance you can -


  • Earn an unlimited amount of income
  • Be the boss of your own venture
  • Work at flexible timings
  • Work even beyond your retirement age

That is why insurance sales is favoured by many and those who pursue not only make money, they also build a name for themselves in the insurance industry. Do you understand the earning potential in insurance sales? Many of you don’t. So, here is a complete guide to help you understand how you can make money by selling insurance -

Levels of earning in insurance

When you sell insurance policies, you earn money in three levels or ways. These include the following -

  • First year commissions

The first level to earn money is the first year commission payable on all insurance policies you sell. Whether you sell life insurance policies or general insurance ones, you would earn a first year insurance commission on the premium you bring in.

  • Renewal commissions

If you thought insurance policies promised only a first year commission, you are wrong. Every year when your customers renew their policies and pay the renewal premium, you also earn renewal insurance commission. This commission is also calculated on the renewal premium. The concept of renewal commission is specifically relevant in case of life insurance policies which run for a specific tenure.

  • Rewards and recognitions

The earnings promised by insurance sales does not end at the commissions only. There is also a rewards and recognition program which promises gifts in cash and kind if you perform well and meet the sales criteria laid down for the reward program. Moreover, there are internationally recognised convocations

which are held every year for the top-performing insurance agents. These convocations recognise the achievement of leaders of insurance sales.

Commission structure

Knowing that you can earn attractive insurance commissions is not enough unless you can know the exact figures. After all, figures give a clearer picture, don’t they? So, here is a look at the commissions which you can earn by selling different types of insurance policies -

Types of insurance plansApplicable commission rates
Motor insurance policies (both car and bike insurance)Comprehensive insurance policy on a private car - up to 19.5% of the premium paid for own damage (OD) cover
Comprehensive insurance policy on commercial vehicles - up to 19.5% of the premium paid for own damage (OD) cover
Comprehensive insurance policy on a two-wheeler - up to 22.5% of the premium paid for own damage (OD) cover
Third party policies on all types of vehicles– up to 2.5% of the premium paid annually
Life insurance policiesPolicies with regular premium paying option – up to 30% of the annualised premium
Policies with single premium paying option– up to 2% of the single premium
Term life insurance policiesPolicies with regular premium paying option – up to 30% of the annualised premium
Policies with single premium paying option– up to 2% of the single premium
Health insurance policiesUp to 15% of the annualised premium

Source :https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_NoYearLayout.aspx?page=PageNo3305&flag=1

Disclaimer : The above list is not exhaustive and the commission rates may be amended by the Regulator from time to time. For more details/complete particulars, you may visit IRDAI website at www.irdai.gov.in


Aren’t the rates quite attractive? Can you imagine how much you can earn by selling different policies? Here is an illustration for your knowledge -
Let’s say you sell four different types of policies to four of your contacts. Each policy has a different premium and gives you a different commission. Supposing, here’s what you sell to your contacts -

Name of your contactType of policy soldPremium amount (assumed)Applicable rate of commission (assumed)Commission Earned
Mr.ATerm life insuranceINR 14,00025%INR 3500
Mr.BHealth insuranceINR 12,00012%INR 1440
Mr.CCar insuranceINR 13,00018%INR 1440
Mr.DBike insuranceINR 250018%INR 450
Total commission earned INR 7730

Just four policies and you earned a commission of INR 7730, simple, wasn’t it?

Insurance sales, therefore, gives you an easy and an attractive avenue to make money. You can earn a handsome income just by selling insurance policies to your contacts.

How to start a career in insurance?

Aren’t you attracted by the earning potential of selling insurance policies? It gives you the scope of unlimited incomes and is thus a promising career. If you are also looking to make money by selling insurance policies, you don’t have to look further. Mintpro gives you an easy way of becoming an insurance partner.

You can become a Point of Sales Person (PoSP) with Mintpro and start your career in insurance sales. As a Point of Sales Person (PoSP) with Mintpro, you can sell policies of leading life and general insurance companies and earn handsome insurance commissions.

Mintpro would provide you with end-to-end support in selling insurance to your clients. Right from finding the most suitable policy to ending the sale and earning commissions, Mintpro gives you complete assistance.

To become a Point of Sales Person (PoSP) with Mintpro, you need to qualify on the following two parameters -


  • You should be aged 18 years and above
  • You should have cleared Class 10 examinations

If you fulfil these basic parameters you can join with Mintpro.

The joining process is easy and is done online. You just have to register with Mintpro as a Point of Sales Person (PoSP) and furnish your KYC documents.

Thereafter, you would have to undergo a simple training module of 15 hours which has been designed by Mintpro as per the guidelines specified by the Insurance Regulatory and Development Authority of India (IRDAI). The training modules are simple and imparted through educative videos. You can even access the modules on your Smartphones through the Mintpro app and complete the training as per your convenience.

After you have completed the training module, you need to appear for a simple online examination. This exam is also created by Mintpro as per IRDAI guidelines. Once you clear the exams, you get the license to act as a Point of Sales Person (PoSP) with Mintpro. Thereafter, you can sell various insurance policies of leading insurers who are tied-up with Mintpro and earn as much commission as you want.

Insurance sales gives you an opportunity to earn money as per your convenience and as much as you desire. It is a lucrative career opportunity and Mintpro gives you the perfect solution to become a Point of Sales Person (PoSP) and start your career in insurance. So, what are you waiting for? Register with Mintpro and open the doors to an opportunity to earn unlimited incomes.

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