What are the authorities of small savings like NSC, ulip etc and the procedure to become the Agent for?

Question

I would like to know the the Age, Qualification, criteria to act as the Agent for all products of Small savings of Government of India, especially NSC, MIS, ULIP etc.

Answer 1

Dear Sibram, if you are planning to go for agancy for the products as you mentioned, I suggest that you take up as many as possible agencies on the following lines:

- Post Office Savings Schemes: NSC, IVP, KVP, Savings A/cs Senior Citizens' Schemes, Children's Schemes etc all together

- Insurance-***-Investment: LIC, ULIP, General Insurance, Pension Products etc.

- Mutual Funds: Various Public and private Sector Funds

- Public Deposits: Various Public sector and Private Sector Corporations and Registered Companies. Avoid Chit Funds!!

- Demat A/c Facilitator: For holding equities in electronic form, you can help getting demat a/c opened on agency basis.

The blend of all above and others would get you a single window service centre for your clients and you would be able to optimise your resources very well.

Regarding age etc., you need to be above 18 years, Senior Secondary pass, with good spoken and written command on English and your local language, preferably computer savvy with atleast one PC at your dedicated disposal (Internet connection an added advantage) and telephone connections, keeping good health to move around with a vehicle of your own. You can run your services from your home office as well.

Answer 2

The POST OFFICES are the place where NSC(6year NATIONAL SAVINGS SCHEME)MIS(MONTHLY INCOME SCHEME)and SENIOR CITIZENS SAVINGS SCHEME and few more schemes are opened and commision is given. You have to approach the Post Office concerned or the LOCAL Head Office of the Post Office and get your self registered as an Agent.

ULIP (UNIT LINKED INSURANCE POLICY) is a scheme operated by UTI(UNIT TRUST OF INDIA) as well as many other Private Insurance Companies and Mutual Funds who have entered in the fray.

You have to become their agent

In addition LIC (LIFE INSURANCE COPORATION OF INDIA) cover the insurance of life and the other insurance companies

like Nationa, Oriental, NEW INDIA,UNITED INDIA etc cover

accident reliefs, medical insurance, automobile, goods in transit,

cargoes etc and they too have agents.

To earn maximum commission you have to be an agent for all these avenues but only one company.

Answer 3

Get in touch with the nearest post office. They will have all the details.