IRDAI POSP General

Four equally weighted areas: IRDAI's role and regulation of insurance business; insurance fundamentals and principles; general insurance products and standard products; and policyholder protection, grievance redressal and ethical sales. Questions reward accurate knowledge of who regulates what, how cover works, and how a POSP should behave with a customer.

Begin with the regulator and the IRDAI Act, 1999, because terminology there recurs in product and ethics questions. Next take insurance principles, then product structures, then grievance and ethics. Finish with the standard products corner on the IRDAI site and recent circulars so your answers reflect current material rather than older editions.

The IRDAI site groups them. General insurance standard products listed are Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha and Bharat Laghu Udyam Suraksha. Health standard products listed are Arogya Sanjeevani, Corona Kavach, Corona Rakshak and Saral Suraksha Bima. Saral Jeevan Bima is the life standard product, so do not offer it as a general insurance cover.

IRDAI operates Bima Bharosa as its complaints registration portal, and the Policyholders Protection and Grievance Redressal department looks into complaints against life, non-life and health insurers. Know the escalation order: insurer grievance officer first, then the portal and the insurance ombudsman route. Exam scenarios often test whether you escalate correctly instead of promising a claim outcome.

The content is introductory rather than actuarial, so difficulty usually comes from careless reading, not from depth. Distractors often swap a regulator, a product name or a time limit. Practise eliminating options that overpromise returns or guarantees, and treat any answer that skips disclosure or suitability as wrong.

The IRDAI source page does not publish the POSP question count, duration, passing score, fee, retake rules or certificate validity. Those details come from the examining body's own instructions. Confirm them before booking, and do not rely on figures quoted in coaching material, which may predate the current revision.

Confusing life and general standard products, misattributing a regulation to the wrong year, and choosing a customer-friendly answer that breaches disclosure or suitability. Another frequent slip is treating a consultation paper or exposure draft as binding law. If a circular is only proposed, say so rather than presenting it as a rule.

Material moves quickly. Recent IRDAI activity includes a consultation on recalibrating the economics of insurance distribution, a Public Insurance Registry consultation, a motor policy four-layer structure circular and a master circular on registration and capital structure. Learn the principle behind each, and check the IRDAI site for what is in force versus merely proposed.

No. This is independent study material with no official affiliation, endorsement or certification from IRDAI. Certification follows only the examination and registration process run through the authorised channels. Use this page to organise revision, then verify every procedural detail, fee and eligibility rule at the official source before you apply.