Some people are good in job and some like to do business. Whatever career option you choose it is very important that you have the right skills and resources to excel in the field. People who become LIC agents have the flexibility of business, support of a solid infrastructure and power to earn good amount of money.
A regular full time LIC agent can easily earn Rs. 30,000 to 40,000 per month. LIC offers
- Flexible office timings
- Unlimited earnings
- Group insurance, gratuity, office maintenance fund, etc.
- Foreign travel
- Easy loan
- Legacy income
We have here collected all the required information that you would need to know about the fast, and the official process to be a LIC agent. LIC Gurgaon offers an excellent opportunity to all people to join LIC as a Insurance Agent to work part time or full time in 2020. The process is very simple and takes less than 2 weeks to get your LIC licenses to sell policies.
How to Become LIC Agent
There are 3 steps to become a LIC agent:
Step 1: Get in touch with your local LIC office. There you can meet the Manager or any Development Officer.
Step 2: Attend a mandatory online training of 25 hours with any of the available training institutes.
Step 3: After the training, you would be required to appear for a online exam being conducted by NSEIT, Shop No.2E/22, 3rd Floor, Jhandewalan Extension, Jhandewalan, New Delhi, Delhi 110055 (How to reach NSEIT for LIC agent exam, see Google location map)
- Apply online a insuringgurgaon.com
- Call us at 9891420503
- Visit LIC Gurgaon
Become a Insurance Adviser in Gurgaon under the guidance of Mr. Vijay Singh, Gurgaon Main Branch (code: 122). He has more than 30 years of insurance experience.
Eligibility
- Completed 18 years of Age
- Have passed 10th Standard as educational qualification
- Should have PAN CARD & AADHAAR CARD
- Willing to undertake training programme of 25 hours online or offline
LIC Agent Form Online
Exam Preparation
Candidate has to complete the basic life insurance training programme conducted by LIC of India. The training is for 25 hours and covers the history of insurance in India, LIC facts and various aspects of Life Insurance. This training is provided absolutely free of cost.
Then he candidate has to write the exam conducted by Insurance Institute of India under the guidelines of Insurance Regulatory and Development Authority of India (IRDAI). The exam is of 50 marks and is in the format of MCQs (multiple choice questions). It is conducted online. LIC insurance agent exam is subjective type.
After the successful completion of examination, there will be an interview by the branch in charge and LIC Agent code will be allotted and you’ll be working under a Development Officer / CLIA (Chief Life Insurance Advisor) who shall guide you on how to run your insurance business.
LIC AGENCY BENEFITS
LIC agents help policy buyers understand the policy features and recommend policies to them. It is the responsibility of a LIC agent to help the customer till he gets his policy. For his services LIC of India pays the LIC agent commission and other benefits. Besides the commissions there are many other benefits as well for LIC agents, see the complete LIC Agents benefits here. LIC policies list can be seen here.
- Great commissions:
- Loans
- Group Insurance
- Be your own boss
- Allowance for office, computer, employees, etc.
- Many more…
SALARY
The best part of the job is that a agent decides his salary. Though there is no salary given by the LIC of India but a agent is free to work as much as he wants and fix his monthly salary. If you are 12th pass and have no experience you can still do this job. This can be done as part time business as well. A great option for people looking for work from home opportunity in Gurgaon.
COMMISSIONS
The commission for LIC agent on different policies is different. For most of the policies you earn commission up to 35% on the first premium and then reducing commission on renewals. Everyone has this question in mind how much commission does LIC agent get? The answer is, it depends.
The commissions are fixed for different policies but since the earnings of a agent are only based on the work he or she does so its absolutely impossible to say how much a agent earns.
Some plans have very less commissions like single premium plans and LIC Pension plans.
Top 4 Reasons to chose LIC agent as a career:
- The career of an LIC agent is not just high earning but highly satisfying as well. You will help people realize their dreams by fulfilling their financial goals and provide them with financial advise that will help them in their wort times.
- People who want to be entrepreneurs without the investment and the basic infrastructural struggle this is the best option. As an Agent, you will be a true entrepreneur. Here at LIC you are your own boss.
- With LIC’s sate-of-the-art training you can excel in this profession even if you don’t have previous experience in selling.
- There are dedicated spaces, technology, office support staff at all LIC branch offices that every agent is entitled to use as per his necessity.
Responsibility
The main job responsibility and scope of work for a LIC agent is to sell policies. As a agent you are required to inform people about LIC policies and help them chose the right policy for their financial goals. LIC Policy agent earn commissions on all policies till the time are are in force.
Commission Chart 2019
Commissions on regular premium polices vary from 40% to 7.5%.
The agent receives a small percentage till the policy is in force or until the policy is surrendered. In rare cases people surrender their policies. If the policy is surrendered the LIC agent’s commissions ceases.
what are club bonuses and benefits
ChatGPT
Club bonuses and benefits are rewards and perks that Life Insurance Corporation of India (LIC) offers to its agents who achieve certain sales targets and maintain a consistent performance over time. These bonuses and benefits are designed to incentivize agents to perform well and to reward their hard work and commitment to the company.
The club bonuses and benefits offered by LIC
Chairman’s Club: This is the highest club that LIC offers and is reserved for its top-performing agents. The benefits of being a member of the Chairman’s Club include higher commission rates, access to exclusive training and development programs, and invitations to special events.
Zonal Manager’s Club: This club is for agents who have achieved a certain level of performance and is one step below the Chairman’s Club. The benefits of being a member of the Zonal Manager’s Club include increased commission rates and access to training and development programs.
Divisional Manager’s Club: This club is for agents who have achieved a good level of performance and is one step below the Zonal Manager’s Club. The benefits of being a member of the Divisional Manager’s Club include increased commission rates and access to training and development programs.
Branch Manager’s Club: This club is for agents who have achieved a basic level of performance and is one step below the Divisional Manager’s Club. The benefits of being a member of the Branch Manager’s Club include increased commission rates and access to training and development programs.
Overall, the club bonuses and benefits offered by LIC serve as a motivation for agents to improve their sales performance, and provide recognition and rewards for their hard work and dedication to the company.
Download LIC Agent Application Form
Download the Application form here
How long does agency license remain active even if I do not do any policy?
A LIC agency has targets that every LIC agent has t complete within a year. The targets are 6 policies or 12 policies. There are different conditions for the policy targets. If an agent is not able to do any policy n a year he / she has to report to the office and explain the reason why he could not do the policies. If the Branch Manager and Development Officer are convinced of his answer they can give him a extension of license even with zero policies.
TOP LIC Agents in Gurgaon
LIC of India presents a great opportunity to earn and grow. Professionals, businessmen and salaried employees are working part time and full time with LIC as agent in Gurgaon.
Here is an list of some of the successful agents in Gurgaon.
- Renu Sharma
- Mamta Devi
- Rekha Kumar
- Jitender Singh
- Yashwant Kumar Singh
- Yaduvender Singh
- Ashok Arora
- Bhagwat Sharma
- Harish Kumar Mehta
- Promila Yadav
If you would like to know more about the work and apply for a LIC Agent, get in touch with us to get the LIC Agent contact number.
Download study material for exam
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How much does it cost to become a LIC agent?
The official fees of the exam from Indian Institute of Insurance is Rs. 500. There are some minor file, registration charges which will cost you around Rs. 500. So, you would need around Rs. 1000 to become LIC agent.
How much time does it take to become a LIC agent?
From exam registration to getting your license it will take not more than 4 weeks.
How much can LIC agent earn?
There is no limit to earn in LIC agency. Each policy of 1,00,00 will get you around 50,000.
What are the targets?
You need to do only 6 policies in a year.
FAQs
Q: Can I work as a part-time LIC agent?
This question arises because many people are interested in becoming LIC agents but may not want to work full-time or may have other professional or personal commitments. The answer to this question is yes, it is possible to work as a part-time LIC agent. LIC provides flexible working hours and allows agents to work on a part-time basis, making it a viable option for individuals who are looking for a side income or want to supplement their existing income. However, it is important to note that becoming a successful LIC agent requires dedication, hard work, and a commitment to building a client base, regardless of whether you work on a full-time or part-time basis.
Q: What is the process to become a LIC agent?
The process to become a LIC agent involves several steps, including submitting an application, completing training and passing an exam, and obtaining a license from the Insurance Regulatory and Development Authority of India (IRDAI).
Q: What are the eligibility criteria to become a LIC agent?
To become a LIC agent, one must be at least 18 years old, have completed a minimum of 10th standard education, and be able to demonstrate good communication and selling skills.
Q: What are the benefits of becoming a LIC agent?
Some benefits of becoming a LIC agent include flexible working hours, the potential for high earnings through commissions, opportunities for personal and professional growth, and the ability to help people protect themselves and their families through insurance policies.
Q: How much commission does a LIC agent earn?
LIC agents earn a commission on the premiums paid by their clients, which typically ranges from 2-25% depending on the type of policy and the premium amount.
Q: What is the role of a LIC agent?
The role of a LIC agent is to sell life insurance policies to clients, help clients choose the right policy for their needs and budget, and provide ongoing customer support and service.
Q: What is the exam pattern to become a LIC agent?
The exam pattern for becoming a LIC agent involves two tests: a pre-licensing exam and a post-licensing exam. The pre-licensing exam covers topics such as insurance laws, ethics, and regulations, while the post-licensing exam covers product knowledge and sales skills.
Q: What is the age limit to become a LIC agent?
The minimum age to become a LIC agent is 18 years old, and there is no maximum age limit.
Q: How can I apply to become a LIC agent?
To apply to become a LIC agent, you can visit the LIC website or contact your local LIC branch office to obtain an application form.
Q: What is the minimum qualification required to become a LIC agent?
The minimum qualification required to become a LIC agent is a completed 10th standard education.
Q: What are the training requirements for becoming a LIC agent?
To become a LIC agent, one must complete a mandatory training program that covers topics such as insurance products, sales techniques, and customer service. The training program is typically conducted by LIC and can be completed either in-person or online.
Q: एलआईसी एजेंट कितना कमाते हैं?
एलआईसी एजेंट की कमाई प्रीमियम के आधार पर निर्धारित की जाती है। इसका प्रतिशत निश्चित की जाती है जो अलग-अलग बीमा योजनाओं के लिए अलग-अलग हो सकता है। आमतौर पर, एलआईसी एजेंट प्रीमियम का 2 से 25 प्रतिशत तक कमीशन कमाते हैं। यह कमीशन उनकी बिक्री के आधार पर निर्धारित किया जाता है जो उन्होंने बीमा योजना बेचने के लिए की है।
Q: what is the salary of a lic agent
LIC agents do not receive a fixed salary, but earn a commission based on the premium amount of the insurance policies they sell. The commission rates for LIC agents can range from 2% to 25% of the premium amount, depending on the type of policy and the premium amount. Therefore, the income of a LIC agent can vary widely depending on their sales performance and the number and types of policies they sell. Some successful LIC agents can earn a substantial income, while others may earn less. It is important to note that becoming a LIC agent is typically viewed as a self-employment opportunity, where the agent is responsible for generating their own income through sales.
Q: What is MDRT, COT and TOT?
MDRT, COT, and TOT are all designations or memberships that are recognized within the life insurance industry and are associated with professional and sales excellence.
MDRT: MDRT stands for Million Dollar Round Table. It is an international organization that recognizes the top-performing insurance and financial services professionals worldwide. The MDRT designation is awarded to agents who achieve a certain level of performance and sales production. To qualify for MDRT, an agent must demonstrate exceptional sales performance and ethical conduct.
COT: COT stands for Court of the Table. It is a prestigious membership level within the MDRT organization, reserved for the top 5% of MDRT members. To qualify for COT, an agent must demonstrate exceptional sales performance and maintain high ethical standards over a period of three consecutive years.
TOT: TOT stands for Top of the Table. It is the highest membership level within the MDRT organization, reserved for the top 1% of MDRT members. To qualify for TOT, an agent must demonstrate exceptional sales performance and ethical conduct over a period of three consecutive years.
Overall, achieving MDRT, COT, or TOT designation is a mark of distinction within the life insurance industry, demonstrating an agent’s commitment to professional excellence and their ability to provide exceptional service to their clients.