LIC Agent Career Benefits

An agent shall be paid as compensation and remuneration for the discharge of all his functions under agents regulations, Commission at the rates fixed for each product of assurance as approved by LIC board will be paid during the continuance of his agency in respect of the completed business under his agency.

Following enumerations are paid:

• First premium commission
• First year renewal commission
• Renewal commission
• Bonus commission
• Hereditary commission

Apart from commission, agents are also eligible for other benefits like

• Gratuity
• Group term Insurance
• Mediclaim
• Advance for Purchase of Car
• Advance for purchase of 2 Wheeler
• Advance to setup office
• Marriage loan for self, daughter, son & dependent sister
• Medical treatment for self & family members
• Housing loan
• Flood, Droughts and Cyclone Advance
• Festival Advance
• Advance for Purchase of Computer (Desktop / Laptop / Tab / iPad)

Benefits of becoming an LIC agent

The future of an LIC agent is very promising and bright. Unlike traditional jobs with fixed incomes, LIC agents do not have a cap on the kind of money they can eventually earn. Being associated with a government agency, also gives the job credibility and status, and agents are looked upon with much respect. An LIC agent can consider himself as an entrepreneur without the added risks associated with running a business all on his own.

An LIC agent is not affiliated to just a government body but enjoys many benefits throughout his life. The career path is very promising, opening opportunities to network, connect with people, grow phenomenally, earn considerably and access world class training with the independence that the job deserves.

There are several proven benefits of becoming an LIC agent, and a few important criteria are detailed below,

• Get a rewarding career - - Becoming an LIC agent is a rewarding career, where people can realise their dreams of fulfilling their financial goals. Being a part of people’s lives and supporting them is very rewarding and satisfying.
• Become a successful team member - - Being an LIC agent is like becoming a part of a large family and belonging to the country’s best team of insurance agents. 4021 members were added to the Million Dollar Round Table in 2015,a global forum that salutes successful insurance agents globally.
• Get attractive remuneration - - LIC offers one of the most attractive remuneration packages that isn’t just significant for the short term, but also factors in the long term. Agents can set their personal income targets and earn consistently for life.
• IRDA Certified Training - - Insurance agents are provided with world-class certified training that is unique to LIC. Even without previous experience in selling, the training program is versatile and multi-dimensional to benefit agents with varied experiences mentored by qualified in-house personnel.
• LIC Services and Products offered - - LIC offers products and services that are tailored for different needs and requirements. Based on the requirements, an agent can design a product or package specially fit to an individual and his needs. Support is consistently offered to all the people who buy the policies.
• Sales and Marketing Support - - LIC provides consistent and constant support to its staff, and agents can benefit from constant mentoring, workshops and support during the sales as well as after sales period.