IRDAI POSP General study guide
IRDAI POSP General · Work through your exam, one topic at a time.
The IRDAI POSP General credential is a certification for individuals who want to sell general (non-life) insurance products as Point of Sales Persons under India's insurance distribution framework. It suits aspirants entering insurance distribution, bank and NBFC staff, and agents who want to sell motor, health, property and personal accident covers. The examination is multiple choice and is organised around four areas: the role, mandate and regulation of the Insurance Regulatory and Development Authority of India (IRDAI); insurance fundamentals and principles; general insurance products including standard products; and policyholder protection, grievance redressal and ethical sales practices. Because the syllabus is broad but shallow, preparation should follow the published domain weights rather than personal interest. The IRDAI POSP General study guide has 4 sections and about 1,543 words.
01IRDAI: Role, Mandate and Regulation of Insurance Business
This section checks whether a POSP knows who IRDAI is, what powers it has, and how its rules reach the point of sale. Questions typically cover the IRDA Act 1999, licensing, product approval, solvency, market conduct and the POSP framework.
385 words, about 2 min02Insurance Fundamentals and Principles of Insurance
This domain tests the principles that decide whether a loss is covered and how much is paid: insurable interest, utmost good faith, indemnity, subrogation, contribution and proximate cause. It also tests risk pooling and the meaning of hazard.
400 words, about 2 min03General (Non-Life) Insurance Products and Standard Products
This section tests product features, mandatory covers, standard products and the arithmetic of claim settlement. Expect questions on motor, fire, marine, health, personal accident, liability and crop insurance.
348 words, about 2 min04Policyholder Protection, Grievance Redressal and Ethical Sales Practices
This domain tests how policyholders are protected after the sale: disclosure, free look, complaint handling, the Insurance Ombudsman, and ethical conduct at the point of sale. Disclosure and documents: the insurer must issue the policy with terms, exclusions and claim procedure.
410 words, about 2 min