How Do I Become A Postal Life Insurance Agent?

Who qualifies for postal life insurance?

Anyone working in government departments and ministries, local bodies, defence services, para military forces, educational institutions, nationalised and commercial banks, and specified organisations, can apply for the policy.

Postal Life Insurance policyholders must be over 19 years of age but less than 55 years old..

What is a direct agent?

A direct writing agent is a person who only sells insurance policies on behalf of one insurer. Thus, they do not connect customers to various insurance companies but only focus on selling the insurance products of one company. Direct writing agents are also referred to as captive agents.

Which is the best postal life insurance scheme?

Salient Features of PLI policiesWhole Life Assurance (Suraksha) Minimum & Maximum age at entry: 19-55 years. … Anticipated Endowment Assurance (Sumangal) It is a Money Back Policy with maximum sum assured of ₹ 50 lacs, best suited to those who need periodical returns. … Children Policy (Bal Jeevan Bima)

What is an insurance general agent?

Specifically, general insurance agents — commonly called GAs — are individuals or insurance agencies that represent different insurance carriers to distribute various insurance products to “retail,” or standard line, insurance agents and brokers.

How do I become a postal insurance agent?

Educational Qualification – The applicant must possess the minimum qualification of a pass in 12th standard or equivalent examination conducted by any recognized Board/Institution, where the applicant resides in a place with a population of 5000 or more as per last census and a 10th pass or equivalent examination form …

How can I apply for PLI Online?

How to register for PLI/ RPLI online services? Register Mobile number & email id: Visit your nearest post office with request in writing for registering mobile number and email address, if not done while taking policy.

Can I purchase PLI Online?

You can start the procedure of buying the policy online even if you are not a customer of India Post. You will be able to navigate to Purchase a Policy. Quote to select the suitable product and coverage for you. After this, you will have to fill personal, employment, medical and other information.

What is a direct writer in insurance?

A direct writer is an insurance agent or insurance company that only issues insurance policies from a single insurance company. A direct writer, also called a captive agent, represents a single company and does not shop around at several companies to find a client the best policy for the best price.

How can I pay LIC premium online?

To pay premiums through the insurer’s website, visit and click on ‘Pay Premium online’ from the ‘Online Services portal’. Here you will get two options: a) Pay Direct (Without login) and b) Through customer portal. This is an option for those who do not want to register with the portal.

Is PLI tax free?

Yes, premiums paid towards PLI are tax exempted as per Section 80C of the Income Tax Act, 1961. … No, the maturity amount will be taxable only if the sum assured in less than the prescribed limit.

What is the bonus rate of PLI?

Postal Life Insurance Scheme Bonus:Type of Insurance PolicyRate of BonusEndowment Assurance (EA)Rs. 50 per Rs. 1000 of the sum assuredWhole Life Assurance (WLA)Rs. 65 per Rs. 1000 of the sum assured2 more rows

What is direct agent in post office?

The GroupWise Post Office Agent (POA) delivers messages to users’ mailboxes, connects users to their post offices in Online mode, updates post office databases, indexes messages and documents, and performs other post office-related tasks.

Can I pay PLI premium online?

The policyholders who have registered on the department’s portal may pay premium online using PLI Customer Portal. Postal Life Insurance and Rural Postal Life Insurance policyholders are facing difficulty in approaching post offices for payment of premium.

How PLI bonus is calculated?

For example, if the bonus is Rs 50 per Rs 1000 in a policy with Rs 1 lakh of sum assured, the annual bonus amount will be Rs 5,000 payable on maturity or on death to the nominee. The rates of Bonus will be applicable for the Financial Years 2016-17, 2017-18, 2018-19 and 2019-20.

Is it better to have an insurance agent?

An independent agent can do important things for you: Agents have at their disposal the ability to quickly check prices and coverages with dozens – if not hundreds – of different insurance companies. Since rates vary widely an independent agent can very likely get you a better deal than you can get for yourself.

Which is better PLI or LIC?

Premium Rate-When compares to LIC or any private insurers, PLI offers cheap premium. So this is the most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currently, LIC offers a bonus rate of around 4% to 5%.

What does sum assured mean?

The sum assured is the guaranteed amount that the beneficiary of your life insurance policy will receive in case of your death. The sum assured is also known as the coverage or the cover of your insurance policy.

What is yugal Suraksha policy?

Joint Life Assurance (Yugal Suraksha) It is a Joint Life Endowment Assurance in which one of the spouses should be eligible for PLI policies. Life cover to both spouses to the extent of sum assured with accrued bonus with a single premium.