Commission of Bajaj Allianz agent


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/ Commission of Bajaj Allianz agent

A career in insurance is highly rewarding. Here are some reasons why –

  • You can be your own boss and have your own business without substantial capital investment
  • You can work with flexible timings as this is not a 9 to 5 job
  • You can earn unlimited income
  • There is no retirement age and you can work for as long as you want
  • You can create annuity incomes through renewal commissions from the policies that you sell

Given these benefits, many individuals choose insurance sales as a career option.


You can also become a Bajaj Allianz agent or for any other insurance company for that matter. Bajaj Allianz is one such leading insurer which offers a range of insurance products and enjoys a good reputation in the insurance industry. The company’s products offer best-in-class coverage benefits at very affordable premium rates and are therefore quite popular among customers.

You can also tap into the demand of Bajaj Allianz insurance plans and become a Bajaj Allianz agent. There are three options of becoming a Bajaj Allianz agent –

Types of Bajaj Allianz agent

To become any of the above-mentioned types of Bajaj Allianz agent, the following steps would have to be taken –

  • Register with Bajaj Allianz by filling up a registration form and pay the required fee. You would also have to submit your KYC documents for the registration process to complete.
  • After registration is done, you would have to undergo mandatory classroom training for a specified number of hours. The duration depends on the type of agency that you seek
  • After the training is complete, you would have to undertake an online examination at specified centres.
  • Once you clear the examination, you would get the license to act as Bajaj Allianz’s agent and sell its policies.

Commission of Bajaj Allianz agent

As stated earlier, a career as a Bajaj Allianz agent allows you to earn unlimited income. This income is the commission that you get on the policies that you sell. The rate of the commission depends on the type of policy that you sell. As a Bajaj Allianz agent, here are the maximum commission rates that you can earn on the different types of insurance policies –

Type of insurance policy  Applicable commission on commissionable premium
Motor insurance 

A comprehensive policy for all types of vehicles except two-wheelers– up to 15% of the own damage premium

Comprehensive policy for two-wheelers – up to 17.5% of the own damage premium

Standalone third party policy – up to 2.5% of the third party premium

If the vehicle is 4 or more years old:

A comprehensive policy for all vehicles except two-wheelers– up to 15% of the own damage premium + 2.5% of third party premium

Comprehensive policy for two-wheelers – up to 17.5% of the own damage premium + 2.5% of third party premium

Standalone third party policy – up to 2.5% of the third party premium

Life insurance 

Regular premium plans – up to 30% of the annual premium, based on policy paying term (PPT)

Single premium plans – up to 2% of the single premium, based on policy paying term (PPT)

Term insurance 

Regular premium plans – up to 30% of the annual premium, based on policy paying term (PPT)

Single premium plans – up to 2% of the single premium, based on policy paying term (PPT)

Health insurance Up to 15% of the annual premium of the plan

Source: IRDAI

As you can see, different types of insurance plans offer different rates of commissions. Moreover, with respect to the commission earnings, here are some points which you should keep in mind –

  • Life insurance policies offer the maximum commission through first-year commissions and renewal commissions. Bajaj Allianz Life Insurance agent commission for the first-year is what you get when you sell a new policy. Bajaj Allianz Life Insurance agent commission for renewal business is what you earn when the customer renews his insurance policy by paying the renewal premium.
  • The rates of first-year rates for Bajaj Allianz Life Insurance agent commission plans are high. They can go as high as 30%. Bajaj Allianz Life Insurance agent commission for renewal of policies, however, are not that high as compared to fresh plans. They usually range from 2% to 5%.
  • Under health and motor insurance policies, Bajaj Allianz General Insurance agent commission rates are for the policies that you sell. Renewal of these plans is treated as a new plan. Even Bajaj Allianz General Insurance agent commission rates for renewal of plans is quite attractive.
  • Traditional life insurance plans offer higher commissions than unit-linked plans. Under ULIPs, Bajaj Allianz Life Insurance agent commission rate ranges from 3% to up to 5%.
  • Single premium life insurance plans would give you only first-year commissions since there are no renewal premiums. Moreover, the commission rate is not as high as regular premium plans and ranges from 2% to 5%.

You can, therefore, become a Bajaj Allianz agent and earn unlimited Bajaj Allianz General Insurance agent commission as well as Bajaj Allianz Life Insurance agent commission on the policies that you sell.

An alternate way to sell Bajaj Allianz policies – PoSP program

Instead of becoming a Bajaj Allianz agent, you can become a Point of Sale Person (PoSP) and sell the policies of Bajaj Allianz. The benefits of becoming a PoSP through are as follows –

  • You can represent not only Bajaj Allianz but other leading insurance companies too. As such, you have access to sell different plans offered by different companies.
  • Since you can sell insurance plans of other companies, your customers have a wider range of insurance plans to choose from.
  • TurtlemintPro gives you complete online assistance in selling insurance policies to your clients
  • You can generate leads and sell insurance plans online easily with TurtlemintPro’s dedicated application which has been designed for PoSPs.
  • With a PoSP’s license, you can sell both life and general insurance policies.
  • Becoming a PoSP is simple and completely free of cost.

To enjoy these benefits, you can become a PoSP and sell insurance plans offered by Bajaj Allianz and other leading insurance companies. To become a PoSP, the process is as follows –

  • Register online at www.mintpro.in and create your user ID and password
  • Submit your KYC documents which are important to get the PoSP license
  • Get simplified training modules which can be studied at your convenience from your phone or computer.
  • Once the training is complete, appear for an online examination and clear it
  • As the exam is cleared you become a certified PoSP and get a license to sell insurance policies

The whole process to become a PoSP is online which makes it convenient for you to avail the PoSP license.

Bajaj Allianz is a leading insurance company with a good financial standing and goodwill in the insurance industry. The company’s insurance plans are favoured by individuals. You can also become a Bajaj Allianz agent or become a PoSP and sell the company’s policies. The commission rates are attractive and there is no maximum limit on the money that you can earn by selling Bajaj Allianz’s policies.

Frequently Asked Questions ( FAQs )

What is the cost payable at registration to become a PoSP?
There is no cost which is payable to register and become a PoSP. Becoming a PoSP is completely free of cost.
What is a composite agent?
A composite agent is one who can sell both life insurance and general insurance plans of an insurance company.
Is a PoSP and a composite agent same?
No, a PoSP is not similar to a composite agent. While a composite agent can sell life and general insurance policies of a single company, a PoSP can sell life and general insurance policies of multiple companies.
Is training mandatory to become a Bajaj Allianz agent?
Yes, classroom training is mandatory to become a Bajaj Allianz agent.
What would happen if my client’s life insurance plan lapses?
If your client’s life insurance policy lapses your client would lose the coverage benefits. Moreover, since no renewal premium would be paid, you would also lose your renewal commission.