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WHAT IS A POSP?

The Insurance Regulatory and Development Authority of India (IRDAI), in 2015, allowed for a new type of insurance intermediary called the “Point Of Sale Person (POSP)”.
“Point of Sales Person”

means an individual who possesses the minimum qualifications, has undergone training and passed the examination as specified in IRDAI POSP Guidelines, solicits and markets only such products as specified by the Authority (IRDAI).
Point of Sales Person (POSP)
can sell only simple plain vanilla type of
products
each and every benefit of such product is
Simple to
understand
Stated
upfront clearly
Fixed
pre-defined
Life
Health
Motor
Accident
Products solicited and marketed by
“Point of Sales Person”
LIFE INSURANCE
  • The “Point of Sales Person” can sell Life Insurance Products filed with and approved by the Authority, which may be
    • Pure Term Insurance product with or without return of premium
    • Non-linked (Non-Participating) Endowment product
    • Immediate Annuity Product
    • Any other product / product category, if permitted by the Authority.

    Detailed Guidelines with regard to Point of Sale – Life Insurance Products are issued separately.

NON - LIFE INSURANCE
  • The “Point of Sales Person-Non Life” can sell only the following pre-underwritten product.
    • Motor Comprehensive Insurance Package Policy for Two-wheeler, Private Car and Commercial Vehicles.
    • Third party liability (Act only) Policy for Two-wheeler, Private Car and Commercial Vehicles.
    • Indemnity Health Insurance (Sum Insured upto Rs 5 lacs)
    • Personal Accident Policy
    • Travel Insurance Policy
    • Home Insurance Policy
    • Any other Policy specifically approved by the Authority

    Detailed Guidelines with regard to Point of Sale – Non Life Insurance Products are issued separately.

Who can become a POSP?

Any individual who is

  • At least 18 years of age (Major)
  • At least passed 10th Standard.
  • 15 hours of Training followed by Examination
  • No Agency with any Insurer / Intermediary
POSP

NJ INSURANCE BROKERS PRIVATE LIMITED
Registered & Corporate Office:
Block No.502, 2nd Floor, 'B' Tower, Udhna Udyog Nagar Sangh Commercial Complex, Central Road No. 10, Udhna, Surat - 394210, Gujarat.
CIN : U67200GJ2002PTC041664

Registered with IRDAI as Direct Insurance Broker - Life and General
IRDAI Regn. No. DB447/09, Licence No. 407, Licence valid up to 28th Feb 2026