IRDAI POSP Life
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ExploreAbout this exam
The IRDAI POSP Life credential is a point-of-sales person authorisation for selling life insurance products, delivered through an examination built around the Insurance Regulatory and Development Authority of India (IRDAI) framework. The regulator describes itself as "a statutory body set up for protecting the interests of the policyholders and regulating, promoting and ensuring orderly growth of the insurance industry in India." The exam tests four equally weighted areas: life insurance products and their terms and conditions; the standard life product Saral Jeevan Bima; the regulatory framework of Acts, rules and regulations; and distribution, agency functions and policyholder protection. Candidates are typically individuals seeking to distribute life insurance products at the point of sale, often after being engaged by an insurer or intermediary, and who need to demonstrate product knowledge and conduct standards before being activated. Preparation should be source-first: read the IRDAI website sections on standard products, where "Saral Jeevan Bima" and "FAQs on Saral Jeevan Bima Standard Terms and Conditions" are published, plus the Acts, Rules and Regulations pages and the policyholder protection and grievance material. The consumer education site www.policyholder.gov.in, which IRDAI says "explains in a simple language the benefits of various types of insurance products, do's and don'ts and grievance redressal mechanism etc.," is useful for the conduct and protection domain. Practise applying product features and regulatory rules to short scenarios rather than memorising lists. This page is independent study material and is not affiliated with or endorsed by IRDAI.
What you'll study
About IRDAI POSP Life preparation
What format is the IRDAI POSP Life exam?
It is a multiple-choice examination. The published exam profile lists four domains, each weighted 25 percent: life insurance products and terms, the standard product Saral Jeevan Bima, the regulatory framework, and distribution and policyholder protection. Question count, duration and pass mark are not stated in the IRDAI source used here, so confirm them with your insurer or the examination body before booking.
How hard is the exam?
Difficulty is moderate and breadth-driven rather than deeply technical. The products and Saral Jeevan Bima domains reward careful reading of policy terms; the regulatory domain rewards precision on which Act, regulation or authority does what. Candidates who only skim product brochures usually struggle with scenario-style questions that ask what a POSP should or should not do.
What is Saral Jeevan Bima and why is it a whole domain?
It is the standard life insurance product published by IRDAI, with a circular, FAQs and standard terms and conditions on the IRDAI website. Because it is standardised, its terms are examinable in a consistent way, so questions can test specific conditions rather than insurer-specific variations. Read the circular and the FAQs together and note how the standard terms interact with general product concepts.
How should I order my study?
Start with the products domain to build vocabulary such as premium, sum assured, policy term, nomination and assignment. Then study Saral Jeevan Bima, which applies that vocabulary to fixed terms. Move to the regulatory framework, and finish with distribution and policyholder protection, where grievance channels such as Bima Bharosa and the consumer education website fit naturally.
Where do I find authoritative study material?
The IRDAI website is the primary source: its Standard Products corner carries Saral Jeevan Bima, and its Acts, Rules and Regulations and FAQ sections cover the regulatory domain. IRDAI's consumer education website www.policyholder.gov.in explains product benefits, do's and don'ts and grievance redressal in simple language. Avoid commercial question banks that claim to reproduce official questions.
What are common failure modes?
Three recur. First, confusing roles and responsibilities across the regulatory framework, such as who regulates, who supervises and who handles grievances. Second, treating Saral Jeevan Bima like any insurer product and missing its standard conditions. Third, weak conduct knowledge, including mis-selling, spurious calls and the correct complaint route, which the policyholder protection domain tests directly.
If I fail, can I retake it?
The retake policy, fees and validity period are not given in the IRDAI source used for this page, so they are marked for review rather than guessed. Ask the insurer or intermediary sponsoring you, or the body conducting the examination, for the current retake rules and any waiting period before you rebook.
Is the POSP framework likely to change?
Possibly. IRDAI has opened a consultation paper on distribution reforms, and the last date for feedback was extended to 31 October 2026. Consultation outcomes can reshape distribution and intermediary rules that affect POSPs. Study the rules currently in force, but check the IRDAI website for circulars before your exam date.