INSURANCE REGULATORY AND
DEVELOPMENT AUTHORITY OF INDIA
Circular
Ref: IRDA/Life/ORD/GLD/223/2017 Date: 07-02-2017
This is further to the guidelines issued on the Point of Sales Person dated 7th November , 2016 .
Based on the feedback of the Insurers and taking into account the practical ease for Insurer / intermediaries, the competent Authority has decided to dispense with the condition of training from and passing of the NIELIT examination and has amended the requisite procedure / qualification for being a POS Person as follows :
The Life Insurer or intermediary proposing to engage POS Person shall
a. conduct an in – house training of fifteen (15) hours for the candidate.
b. conduct an examination after successful completion of the training .
c. issue certificate to the candidate passed in the examination
d. engage the successfully passed candidate as POS person by entering into a written Agreement, specifying suitable terms and conditions.
e. maintain a proper training and examination record for at least five (5) years from the end of the financial year in which these are conducted and shall be made available to the inspecting official of the Authority during on-site inspection .
The Model Syllabus for training of ‘POS Person- Life insurance’ is herewith attached in Annexure– I which may include the features of various POS products designed by the Insurer from time to time and may be modified and developed according to the changing need of the insurer and intermediaries.
