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The traditional definition described housewives or homemakers as women without jobs outside their homes, primarily involved in looking after their families, plus taking care of cleaning, cooking and other everyday household tasks. Deciding what one does during the day is a matter of choice. That said, thanks to modern-day progressive cultural shifts, our growing economy and rapid digitalization, more and more women are now willing to explore work-from-home career options for housewives.
Underlying reasons? Flexibility desired personal and work-life balance, monetary independence and enhanced financial stability. When it comes to job options for housewives or a career for a housewife, work-from-home insurance jobs often stand out, allowing them to sell insurance full-time or part-time from the comfort of their homes.
Let's dig deep to understand the role of insurance agents and POSP insurance advisors. We'll also explain the eligibility criteria, benefits and process for housewives to become self-sufficient insurance agents or advisors.
● There are unparalleled work-from-home insurance sector opportunities.
● It's a conducive environment for housewives as POSPs or insurance agents.
● No experience restrictions or investment requirements.
● Can get trained and coached by industry experts before stepping in.
● Become licensed independent operators.
● May align with leading insurance companies.
● Stay in charge of the flexible daily schedule and working hours.
● Earn and grow at will.
● Achieve a financial upper hand and complete peace of mind.
POSP expands to 'Point of Sales Person.' POSP insurance agents are intermediary professionals appointed, authorized and permitted by insurance companies to directly sell their pre-approved policies to customers. Such adequately trained individuals only offer IRDAI-assessed [Insurance Regulatory & Development Authority of India] retail products.
On the other hand, insurance agents, also called IRDAI agents, can sell all approved insurance products, including high-risk and high-sum-insured options. Both POSP and IRDAI insurance agents excel at building and nurturing relationships with prospective clients and operate via online platforms or hybrid approaches.
Work-from-home insurance jobs are the near-perfect solutions for women who want to become financially self-reliant and satisfy their ambitions while still cheerfully carrying out their homemaker duties. Owing to increasing necessities and the acceptability of remote work techniques, many insurance services providers now offer lucrative work opportunities for housewives.
As insurance agents, housewives make the best use of telephonic, video and email communications to find new clients, help prospects realize their insurance needs, promote products, generate leads, enable citizens to identify appropriate coverages, and close sales. Housewives as POSP insurance advisors or agents also provide post-sales troubleshooting support, renewal and claim assistance.
● No Upfront Investment.
● Steady & Recurring Income Via Commissions.
● Customizable Working Hours.
● Regular Training & Upskilling.
● Professional Development.
● Availability of Part-time Options.
● No-commute Time Savings.
● No Compromise with Household Responsibilities.
● Improved Work-life Balance.
● Fulfilment of Career Aspirations.
● No Traditional Retirement Constraints.
● Financial Stability & Security.
How much a housewife earns as a POSP insurance advisor or agent depends on multiple factors, ranging from her experience, location, the number of new clients acquisitions, polices sold, types of plans, renewals, efforts put in, commission structure, to incentives and bonuses. On average, it is reasonable to earn INR 20 to 100 thousand/month, and for more diligent performers, the earnings could be significantly higher.
Aspiring insurance agents or POSP advisors should be at least 18 years old with a valid 10th-grade certificate, Aadhaar plus PAN card, and a functional bank account. They must undergo up to 25 hours of training before appearing/passing the company-conducted online evaluation or IRDAI-prescribed examination.
No previous experience is required. However, willingness, passion for learning, ability to observe/adapt, above-average communication or persuasion skills, fundamental computer/digital knowledge, a can-do attitude and self-discipline could prove immensely valuable.
Securing the 'insurance agent' designation as one of the prominent job options for housewives starts with positive visualization as the first step. The following path begins with thoroughly researching and analyzing the insurance industry's legal framework and market dynamics.
You may zero in on your preferred insurance areas, go through the pre-licensing training and sit for the exam to earn the necessary license. On acquiring the requisite permissions, the last step involves looking for, reaching out to and partnering with credible, well-recognized insurance entities in the country, either as an agent or an independent contractor.
India's insurance sector has accelerated at a CAGR of 17% in the last two decades, credit to increased awareness, timely regulatory changes and enthusiastic participation from the private sector.
RPA [Robotic Process Automation], advanced AI algorithms, newer data channels and upgraded data processing capabilities mean the next 10 years could witness our country being transformed into the sixth-largest insurance market in the world, surpassing developed nations like Canada, Germany, South Korea and Italy.
Be it Life/Non-life categories, Health, Motor, Travel or other insurance, with the present overall insurance penetration at a mere 3.7% of the GDP, there are ample untapped opportunities.
Housewives, irrespective of their background, can commit, reskill, contribute, effectively network, build relationships, leverage upcoming technologies and prove their mettle in the exciting insurance arena for a brighter future.
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Note: The above information is purely indicative in nature and subject to change without any prior notice from the government authorities. One must refer to the Insurance Regulatory & Development Authority of India's portal to learn the most up-to-date developments before taking action.
