I have been earning passive income from insurance commissions of RICBL since 2015.
The commission is based on the number of people I refer to them for insurance policies. It’s more like an affiliate program.
How can you become a RICBL Insurance Agent to make commission income? Do you need qualifications?
Is it worth becoming a RICBL Agent? How much you’ll be able to earn?
Let me address all these questions in this post.
How to Become RICBL Sales Executive
First, you must get a certificate to be an insurance agent. For this, RICBL conducts the 5-day-long training.
You can visit RICBL HQ to ask if they have any upcoming training plan. If so, get yourself registered. They will give the training schedules.
You can ask regional branch offices as well. The training is light and fun. You’ll learn various insurance policies and how to calculate the monthly premium.
Is it worth becoming Insurance Agent
There are more than 3000 Bhutanese working as insurance agents. One good thing about being an insurance agent is you don’t have to do it actively – there is no target.
We are paid on the basis of insurance premium deposited by customers we helped in getting insured – an affiliate program’s income sharing model.
The training is free. You can attend it even if you won’t be able to bring business. The knowledge of the training helps. We can also help our relatives or friends in picking suitable insurance policies.
The company also recognizes top agents every year and sends them for upskilling programs in foreign countries. Moreover, agents get a 5% discount on every insurance policy.
How Much You earn from insurance
If you can insure more people, you’ll earn more commission. Commission rates aren’t the same for all insurance policies, though.
If you do non-life insurance, commission is once. But it’ll be huge as the premium for such policies is usually in the millions.
If you do life insurance and endowment policies, you’ll get commission income until the policy’s maturity date. They guarantee regular income.
Till now, I have insured around 24 people (mostly my relatives and friends). I get a monthly commission of about Nu.3,500 per month.
All are life insurance policies and millennium education policies.
This provides an opportunity to make additional income. So few of my friends even resigned from their regular jobs to do it full time.
They are earning as high as Nu.80,000 commission in a month. Therefore, signing up for insurance agent will be worth your time.
