Who is a LIC Agent
It’s not an easy job, but it’s also not a tough one. It is the easiest work if you grasp the definitions. It can be said that the LIC agency is a corporation, not a work. Without much investment, you’ll be an entrepreneur. Your job is to raise awareness of LIC and make individuals understand the value of life insurance. As an instrument for financial planning, you can implement the LIC policy.
This is a job where you’re your own boss and where your growth is not limited to the stars. There are agents in India who receive a fee of a few crores a year.
How To Become LIC Agent in India 2021
Your educational qualification should be at least 10th pass in order to be a LIC agent and the age should be 18 years minimum. Earlier, to become an agent, it was mandatory to have a 12th pass certificate.
Contact your LIC branch office nearest you and meet the development officer there. An interview will be taken by the Branch Manager and if h/she feels you are fine, then you will be sent for training to the Department/Agency Training Centre.
Also Read – LIC Policy Holders Will Get LIC Shares Worth Rs 17,500 Crore After LIC IPO Launch; 10% To Be Reserved
The training time is 25 hours. All facets of the life insurance sector are covered. It is important to pass the pre-recruitment examination conducted by the Insurance Regulatory and Development Authority of India upon successful completion of the training (IRDAI).
You will obtain an appointment letter and identification card upon clearing the review. The Branch Office will appoint you as an agent and you will be part of the team under your Development Officer.
LIC Agent Monthly Salary in 2021
Money Back plan
| Premium Paying Term | Commission | ||
| 1st Year | 2nd and 3rd Year | 4th Year Onwards | |
| As per plan | 15% | 10% | 6% |
| 12 year | 15% | 8% | 6% |
Endowment plan
| Premium Paying Term | Commission | ||
| 1st Year | 2nd & 3rd year | 4th year Onwards | |
| 2 to 4 yr | 5% | 2.25% | 2.25% |
| 5 to 9 yr | 10% | 5% | 5% |
| 10 to 14 yr | 20% | 7.5% | 5% |
| 15 yr & above | 25% | 7.5% | 5% |
Term Plan
| Year | Commission | ||
| First Year | 2nd and 3rd year | 4th year onwards | |
| 5 -9 years | 10% | 5% | 5% |
| 10 – 14 years | 25% | 7.50% | 5% |
| 15 years and above | 25% | 7.50% | 5% |
Pension Plan
| Premium Paying Term | Commission | |
| First Year | 2nd Year Onwards | |
| 2 to 4 year | 5% | 2% |
| More than 4 years | 7.5% | 2% |
| year | Premium | Commission Rate | Commission |
| 1st year | 100000 | 25% | 25000 |
| 2nd and3rd year | 100000 | 7.5% | 7500 |
| 4th year onwards | 100000 | 5% | 5000 |
Benefits of Becoming An LIC Agent in India
1. Attractive Remuneration
LIC India deliver one of the industry’s best remuneration schemes, which not only takes care of your present earnings, but also assures potential earnings. What’s more, for the rest of your life, you can set your own revenue goals with the ability to receive as much as you want.
2. A Successful Team
By joining LIC, you will be part of the best team of life insurance agents in the world. They contributed 4021 participants to the Million Dollar Round Table in the year 2015: a global forum that salutes the most profitable insurance agents in the world.
3. Full Range Of Products And Services
In order to help them accomplish all their financial objectives, you can give your clients more than 50 package variations of LIC exclusive goods and riders. LIC are also actively working on newer and more creative goods in order to give you a greater competitive advantage.
4. World-Class Training
As that is what differentiates LIC Agent from the rest, they provide you with the best-in-class training programs. Multi-dimensional training program, taught by trained in-house training team, will make you an expert in life insurance sales, even though you do not have prior experience in sales.
5. Rewarding Career
By achieving their financial objectives, you will help people realize their dreams. More rewarding and satisfying than you could ever imagine is the difference you make to their lives.
