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/ Insurance jobs for retired persons

The retirement dilemma

Many individuals believe that life becomes difficult after retirement because there is no scope of income. After retirement, as individuals retire, they bid farewell to their monthly income too. However, the expenses don’t stop and so there is a financial strain after retirement. All dreams which retired individuals were not able to fulfil during their active working years remain dreams. They don’t have enough funds to accomplish such dreams. But what if this shortage of funds be taken care of despite your retirement?

Yes, retired individuals can also generate a source of income if they build a career in insurance sales. Retired individuals can become a Point of Sale Person (PoSP) with Mintpro and earn handsomely by selling insurance policies and that too without investing any money.

What is a Point of Sale Person (PoSP)?

A Point of Sale Person (PoSP) is an individual who is licensed to sell insurance policies. A Point of Sale Person (PoSP) can sell life as well as general insurance policies offered by multiple companies by just having one POSP license. A Point of Sale Person (PoSP) is, therefore, an insurance intermediary who can sell insurance policies and earn commissions on the premiums collected.

Why become a Point of Sale Person (PoSP)?

Becoming a Point of Sale Person is beneficial for you because –

  • There is no age restrictions in becoming a Point of Sale Person (PoSP). You can become a Point of Sale Person (PoSP) even after you have retired and have no job of your own
  • You can sell insurance in your free time and earn commission on the policies you have sold
  • You can educate your friends and family about the importance of insurance and why the policy should be bought. Thus, selling insurance is also a noble business
  • When you sell insurance and earn commission, you will become independent, self-confident and also have self-respect
  • You can generate a source of income in your old age and utilise the income to fulfil your dreams without worrying about the costs involved
  • If you sell life insurance policies, the plans would also pay you renewal commissions every year the renewal premium is paid by your customer. This renewal premium can act as an annuity income for you if you sell multiple life insurance plans with longer tenures

How to become a Point of Sale Person (PoSP)?

Becoming a Point of Sale Person (PoSP) is very easy with Mintpro. Individuals can follow the following steps to do so –

  • They have to register with Mintpro as a Point of Sale Person (PoSP). The registration is free and is done online itself
  • After registration, there are online training modules. Individuals have to train themselves using the modules which are simple and easy to understand.
  • Once the training is complete, there would be a simple online certification examination which individuals would have to appear for
  • Once they clear the examination they can get a Point of Sale Person (PoSP) license. Then they can sell insurance policies with Mintpro

This video helps in understanding how you can become a PoSP easily - Youtube video link

Read more about How to become an Insurance agent with Mintpro

The potential for earning for retired individuals

As a Mintpro Point of Sale Person (PoSP), retired individuals can sell both life and general insurance policies of various insurance companies. By selling each policy they earn an attractive commission on the premium they bring. Since there is no limit to the number of policies which can be sold, a Point of Sale Person (PoSP) can earn unlimited income.

If you are wondering how much commissions can you earn on the policies that you sell, here is a quick look -

  • Comprehensive car insurance policies - up to 19.50% of the own damage premium
  • Comprehensive commercial vehicles insurance policies - up to 19.50% of the own damage premium
  • Comprehensive bike insurance policies - up to 22.50% of the own damage premium
  • Third party liability policies - Up to 2.5% of the premium
  • Regular premium life insurance policies, including term insurance plans - up to 30% of the annual premium
  • Health insurance policies - up to 15% of the annual premium

So, even if you sell one policy with a premium of INR 10, 000, you can earn up to INR 3000 as your commission depending on the type of policy that you have sold.

Read more about How much will you earn selling insurance?

Work related flexibility

There are no fixed working hours and retired individuals can sell insurance policies as per their own convenience. Thus, they can enjoy their retired life and still earn handsomely as a Point of Sale Person (PoSP).

So, even if you have retired from your job, don’t retire from your life. Become a Point of Sale Person (PoSP) with Mintpro and create another source of flexible income and fulfil all your dreams.

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