MIBL_Mahindra Insurance Broker

Clear your Doubts

We handhold you till the last mile, if you have any doubt.

PoSP or the Point of Sale Person, is an initiative by IRDAI, which allows Insurers as well as Insurance Intermediaries Viz. Brokers to appoint Point of Sale Person.

A Point of Sale Person is allowed to sell PoSP products which include simple products wherein each and every benefit is predefined and disclosed upfront clearly at the time of sale itself and is very simple to understand. An individual can sell insurance policies online, anywhere and anytime.

  • Should be minimum of 18 years old
  • Minimum qualification : 10th Pass
  • Should complete 15 hours of training of General Life each Insurance or 30 Hours for composite
  • Pass an examination based on the training undertaken
  • Should have a valid PAN & Aadhaar Card

A PoSP is allowed to sell the following products in General Insurance:

S. NO. Product category Maximum Limit of Sum Insured for a general insurance product marketed by PoSP
1 Motor Package (2-wheeler, private car and commercial vehicles) Rs 50 lakhs per risk
2 Motor Third Party (2-wheeler, private car and commercial vehicles) No limit
3 Personal Accident Rs 50 lakhs per life
4 Travel Insurance Rs 3 crores per life/ risk or equivalent currency in foreign exchange
5 Home Insurance Rs 50 lakhs per risk
6 Fire & Allied Peril (Dwelling) Rs 50 lakhs per risk
7 Hospital Cash Rs 1 lakh per individual
8 Critical Illness Rs 3 lakh per individual
9 Health Indemnity Rs 5 lakh per individual
10 Cattle/ Livestock Rs 1.5 lakhs per risk
11 Agricultural Pump-set Rs 1.5 lakhs per risk
12 Crop Insurance other than Govt Schemes Rs 1 lakh per acre

Life Insurance:

The Category / Nature of Product that a PoPS can offer in Life Insurance as here under:

  1. Pure Term Insurance Product with or without return of premium
  2. Non-linked Non-Participating Endowment Product (Money back feature also allowed)
  3. Immediate Annuity Product

3 simple steps

  • Log in to www.sajhedaari.com and complete the enrolment form and submit the scanned copy of your 10th /12th or Higher education certificate, Aadhar card, Pan card, cancelled cheque or passbook or latest account statement (name of the applicant must be clearly visible)
  • Take the online training and examination on your Mobile/Laptop/Desktop
  • Sign off the engagement letter and begin a Shandar Sajhedaari.

Yes. As per IRDAI guidelines, one need to undergo a mandatory 15 hours training in Life Insurance/General Insurance.

The duration of the online certification exam is one hour.

Yes, a maximum of 3 attempts are allowed for clearing the examination.

Passing mark for the examination is 17. Examination/Assessment consists of 50 questions and 50 marks and each question carries 1 mark.

The training contain consists of 6 modules designed to be completed within the stipulated 15 hours. There is no upper limit on the time to be spent on each module. However, all the modules have to be completed within 30 days. Only after the completion of all the modules, you will be eligible for taking the test.

In case of composite certification i.e. for Life and General both, one needs to undergo the stipulated 15 hours for each of the streams and thereafter attempt and clear assessment/Examination for both Life as well as General Insurance.

Yes, upon successful completion of the training and clearing the test, MIBL and the business partner will sign an agreement and post this agreement the partner will be given the certificate of association as a PoSP(Business partner) with MIBL. Also MIBL will notify Insurance Regulatory and Development Authority (IRDA) and Insurance Information Bureau (IIB) about your association with MIBL.