How much commission do post office agents get?

How much commission do post office agents get?

Post Office Agent Commission

How do you become a post office agent?

By submitting your documentation to the district office for consideration, you can start the process of becoming an agent. The District Collector or other appointing authority will then determine whether you're ideal for the position or not. Once you're approved, you can begin your work as an agent.26-Feb-2019

How is LIC agent commission calculated?

You will get 35% commission on 1st year premium, then 7.5% for 2nd and 3rd year + 5% commission till the policy ends.

Do we get commission from post office agent if we invest money?

No Commission to Post Office Agents on PPF, SCSS & reduced in other Schemes. Decisions on the recommendations of the Committee for Comprehensive Review of National Small Savings Fund (NSSF) by finance ministry in repsect of commission to be paid to post office agents .11-Nov-2011

How does a post office agent make money?

In the case with PPFA, which covers the Public Provident Fund (PPF) the commission is also one per cent. It is the highest for agents of the MPKBY who operate the Post Office Recurring Deposits Scheme. Such agents earn 4% commission.09-Jun-2011

What is direct agent in post office?

2,3 means an Insurance Agent engaged by the Postmaster General / Head of the Division who receives or agrees to receive payments by way of commission or other remuneration in consideration of his/her soliciting or procuring PLI/RPLI business including business relating to continuance, renewal or revival of policies of

How do I become a small savings agent?

1 Minimum qualification is 12th Pass under 10+2 scheme or Higher Secondary or its equivalent. 2 Retired person(s) from Govt., Semi Govt. Undertaking, Public Sector are also eligible for the SAS /PPF/MPKBY agency. 3 SAS/PPF/MPKBY agency may be given to the person(s) who hold the agency of L.I.C/ G.I.C.24-May-2016

How much do PLI agents make?

Average India Post Agent salary in India is ₹ 2.1 Lakhs for 4 to 19 years of experience. Agent salary at India Post ranges between ₹ 1.2 Lakhs to ₹ 3 Lakhs. According to our estimates it is 75% more than the average Agent Salary in Government / Public Administration Companies.25-Jan-2022

What is outsourced postal agent?

a. Outsourced Postal Agents (OPAs) scheme will be applicable for Registered Post (including Parcels), Business and Express Parcel and Speed Post (domestic) articles and will replace the existing scheme of Outsourced Agents present applicable for Speed Post.13-Aug-2016

What if my LIC agent dies?

In case of agent's death while his agency subsists, after agency was in force for two years or over, renewal commission will continue to be payable to his heirs or nominee provided there was a business of not less than Rs. 1 lakh in force at the time of death.

Who is the highest paid insurance agent?

Gideon du Plessis

What is the minimum target of LIC agent?

Currently the MBG conditions are as under: 12 lives. Or 6 lives and 50000 premium.

What is the commission of mutual fund agent?

Commision Structure for Mutual Fund Agent (4.5% to 10%), Equity Mutual Funds will get you around (0.5% to 2.5%). Whereas, getting your clients to invest in Debt Funds will earn you around (0.2% to 0.8%).

What is interest rate of RD in post office?

5.8% Per annum

What is Post Office MIS 2022 interest?

The interest rate that is paid on the Post Office Monthly Income Scheme is 6.6% p.a. for an investment period of 5 years. The rate of interest paid is not applicable to senior citizens and those who belong to this category can invest in the Senior Citizens Savings Scheme (SCSS).

How much does a post office franchise cost?

1 to 1.5 Lakhs. The applicant will have to mention the minimum business generation feasibility in the location where the franchise is proposed to open. The minimum revenue generation has to be Rs. 50000 per month that will be reviewed by the department on every biannual basis.

What is KVP scheme in post office?

Kisan Vikas Patra is a government-backed instrument and offers complete security and guaranteed returns. The amount that you will receive at the end of the term is declared on the certificate, which offers security on your investment and the amount that you will receive at the end of the term.30-Sept-2022

What is mis interest rate?

A monthly Income Scheme (MIS) is an investment scheme that promises the investor guaranteed returns at an interest rate of 6.60% per annum. These returns can be availed as fixed monthly income. Post Office Monthly Income Scheme (POMIS) is an investment scheme of the Indian postal service.

Who can become PLI 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

What is SAS agency?

Standardised Agency System (SAS) was introduced by the Government w.e.f. 01.10. 1960 to appoint authorised agents to canvass for the sale of specified National Savings Schemes. Under the agency system, an adult individual is eligible for appointment as authorised agent.

How can I take PLI?

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.

How much commission do post office agents get?