Frequently Asked Questions

The main job of LIC Agent/Advisor involves:

• Develops base for long-term sources of clients by using referrals, occupational, and special-interest groups to compile lists of prospects.
• Approaches potential clients by utilizing mailings and phone solicitation; making presentations to groups at company-sponsored gatherings; speaking publicly to community groups on the subject of financial well-being.
• Determines clients' particular needs and financial situations by scheduling fact-finding appointments; determining extent of present coverage and investments; ascertaining long-term goals.
• Develops a coordinated protection plan by calculating and quoting rates for immediate coverage action and long-term strategy implementation.
• Obtains underwriting approval by completing application for coverage.
• Completes coverage by delivering policy; planning future follow-up visits and evaluations of needs.
• Provides continuing service by providing direct deposit forms; processing changes in beneficiary and policy loan applications.
• Provides death benefits by delivering policy proceeds; reassessing client needs.

• Attractive Remuneration
  It offers one of the best remuneration systems in the industry that not only takes care of your current earnings, but also guarantees an earning for the future. What’s more, you can set your own income targets with a potential to earn as much as you want for the rest of your life.
• Independence
  As an Agent, you will be a true entrepreneur. You have the freedom to be your own boss: work for yourself, choose your own clients and make your own money. All of this, without your having to make any initial capital investment.
• Rewarding Career
  You will help people realize their dreams by fulfilling their financial goals. The difference you make to their lives is more rewarding and satisfying than you could ever imagine.
• Working Hours:
  Part time /Full time (Decide your own working Hours)

LIC Agents are the highest earning professionals of our country. There are many Agents who have been consistently earning more than 1 Crore income per year. Unlike any other selling, LIC Agency gives you 2 commissions. First one is called as First year Commission ( 25% of the premium brought in + 40% of that 25%). The second income is known as Renewal Commission, which is split into 2 Commissions: A Commission of 7.5% paid in the 2nd & 3rd years of the Policy and a Commission of 5% until the maturity of the policy. Such an arrangement called as Renewal Commission is akin to a system of Regular Pension and cannot be seen in any other business. Pranams to Mother LIC. That is why, Agents who get to know this great blessing, never quit Agency and keep on doing Agency as long as they can, so as to build a lovely regular monthly pension for their retired life. So, if you work for just few years rigorously and quit LIC Agency also, you will continue to get a regular flow of monthly income for many many years continuously.

Commission is not the only earning from LIC to you. Your additional income comes in the form of interest free 4-wheeler or 2-wheeler loans, Sizable Home Loans, Own Office Expenditure allowances in disguised forms, telephone facility, computer & furniture advances, festival advances, quick loan for your son/daughter’s wedding etc…In all, you will live a life of a private company CEO, but with Freedom of Time and the pleasure and joy of being on your own.

LIC provides its agents various club memberships as recognition to them to uplift their social status as well as within the agency circle.

These are some of the club memberships provided in accordance to the performance of agents:

• Distinguished Club Member.
• Branch Manager’s Club Member (BM Club).
• Divisional Manager’s Club Member (DM Club).
• Zonal Manager’s Club Member (ZM Club).
• Chairman’s Club Member (CM Club).
• Corporate Club Member (Galaxy Club).

Below are extra benefits provided other than the commissions payable to LIC agents:

• Office Allowance to maintain your own personal office.
• Telephone/Mobile bill reimbursement.
• Reimbursement of Sales Promotional Gift items.
• Interest free advance for purchase of Car/Motorbike.
• Interest free advance for purchase of office equipment's.
• Interest free advance for Training.
• Interest free Festival Advance.
• Housing loan at concessional rate of interest.
• Term Insurance and Mediclaim benefits.
• Guest house facility throughout India at concessional rates as applicable to employees.
• Annual Convention.
• Attestation authority.
• Pension Toeility

The monetary value all above benefits concludes from INR 1,00,000 to INR 15,50,000 for respective club memberships.