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Side Income for Insuarance Agents

Insurance agents promote insurance products on life, health, property, car, and other coverages to cater to the needs as necessary for individual customers. . They work with insurance companies as independent brokers, referring clients and earning commissions on the policies they refer. They develop a professional connection with clients, which they can leverage to earn passive income.

Benefits of Joining

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Zero investment, uncapped earnings

Zero investment, uncapped earnings

Weekly payout directly to your bank account

Weekly payout directly to your bank account

Quick disbursement with zero physical documentation

Quick disbursement with zero physical documentation

Dedicated support through Relationship Manager & central helpline

Dedicated support through Relationship Manager & central helpline

Track your cases directly on the app

Track your cases directly on the app

Opportunity to work directly with IDFC FIRST Bank and participate in recognition programs

Opportunity to work directly with IDFC FIRST Bank and participate in recognition programs

First-Partner

How can independent Insurance Agents create value for customers?

Independent insurance agents can use their expertise in finance to create value for their customers. They can explain a policy's features and benefits better than most, helping their clients make the right choice.

Additionally, insurance agents can help clients get personal loans through the IDFC FIRST Bank MyFIRST Partner Referral Program. They can refer IDFC FIRST Bank personal loans to their clients, helping them get funds quickly.

First-Partner

Additional income an Insurance Agent can earn with the IDFC FIRST Bank MyFIRST Partner Referral Program

Insurance agents can join the IDFC FIRST Bank MyFIRST Partner Referral Program and become IDFC FIRST Bank MyFIRST Partners. They stand to earn 1.5% of the disbursed loan amount referred by them. Every successful personal loan referral fetches 1.5% of the disbursed amount, which can add up to earn insurance agents more than ₹50,000 per month.

The IDFC FIRST Bank MyFIRST Partner Referral Program also includes incentives for insurance agents who perform well at the branch, regional or national level. Over three lakh individuals use the MyFIRST Partner App daily to earn extra income.

How to refer personal loans?

Insurance agents can use their network to refer to IDFC FIRST Bank personal loans. They can enquire in their network to see if anyone needs funds. Once they find someone who needs money, they can refer them through the IDFC FIRST Bank MyFIRST Partner App.

They can help fill out the loan application and get funds as soon as possible. After the loan amount is disbursed, they receive 1.5% of the disbursed loan amount.

About IDFC FIRST Bank MyFIRST Partner Referral Program

The IDFC FIRST Bank MyFIRST Partner Referral Program provides passive income options to insurance agents, retired individuals, doctors, real estate agents, etc. Anyone with networking capabilities can register under the MyFIRST Partner Referral Program. 

How does the IDFC FIRST Bank MyFIRST Partner Referral Program work?

Once you have downloaded the IDFC FIRST Bank MyFIRST Partner App and registered as a MyFIRST Partner, you can refer your contacts for personal loans. Your task is to assist people in closing the personal loan application process smoothly and ensuring they meet the set-out requirements.

On every referral, you earn a flat 1.5% payout. The payout is credited weekly directly to your bank account. The IDFC FIRST Bank MyFIRST Partner Referral Program also allows MyFIRST Partners to earn over and above the 1.5% payout during contests.

How to use the IDFC FIRST Bank MyFIRST Partner App?

You can join the referral program by downloading the app and registering for free. Here are the steps that you need to follow:

Step 1

Download the IDFC MyFIRST Partner app on your phone

Step 2

Upload your photograph

Step 3

Register for free using your PAN, address proof and bank details

Step 4

Signup to get your digital ID instantly

Step 5

Verify the OTP and finish the registration

First-Partner

Extra Income Ideas

1. Referral Program: Convince your friends, family, neighbours, and colleagues to take a personal loan. You can earn money without investment. This is available for both short-term and long-term needs. You can now start building your second income with the IDFC FIRST Bank MyFIRST Partner app.

2. Freelancing: This is self-employment where you can be a content writer, web and graphic designer, attorney, accountant, or digital marketer. There is limitless earning potential as you may get clients from around the country and worldwide.

3. Social Media Influencer: Build a follower base and post your content. Pick a particular niche for your target audience. Your reputation will depend on the brands you endorse. Adopt the right plan to create authentic posts.

4. Home Baker: Consider using your free time to check out cake recipes on YouTube. There is always an active market for cakes, cookies, and pastries. You do not need a formal chef or baking course to become a baker.

Video

Learn more about MyFIRST Partner App

Frequently Asked Questions

How do Insurance Agents become IDFC FIRST Bank MyFIRST Partners?

Insurance agents can become IDFC FIRST Bank MyFIRST Partners after registering on the IDFC FIRST Bank MyFIRST Partner App. They can refer their contacts for personal loans through the app and earn a 1.5% payout on the disbursed loan amount.

How much does an Insurance Agent get from this program?

Insurance agents can earn 1.5% of the loan amount disbursed to clients referred by them. The payment is made weekly, and there is no limit on the number of referrals IDFC FIRST Bank MyFIRST Partners can make.

Can an Insurance Agent refer personal loans?

Anyone with decent contacts and networking skills can refer personal loans, including an insurance agent. Register on the IDFC FIRST Bank MyFIRST Partner App, submit the necessary documents and get your digital identification number to get started.

How easy is it to refer personal loans?

Referring personal loans to your contacts is easy. All you need to do is connect with your contacts and check their loan requirements. When a contact needs urgent funds, you can check their eligibility for personal loans and refer them for the same.

How much money can insurance agents earn through the IDFC FIRST Bank MyFIRST Partner Referral Program?

There is no cap on the number of referrals that can be made using the IDFC FIRST Bank MyFIRST Partner Program. An insurance agent can make as many referrals as they want and earn a 1.5% commission on the amount disbursed. Consistent work can result in earnings of over ₹50,000 per month.

How can I get assistance if I need to understand anything related to the program?

Go to the “Contact Us” section on the IDFC FIRST Bank MyFIRST Partner App to get real-time assistance from the central helpline or your relationship manager.

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