How much do LIC agents earn?

How much do LIC agents earn?

The statistical data suggest the average income of an LIC agent to be Rs. 39,200/- to Rs. 67,000/- per month. The figure varies depending upon the number of policies an agent sells and amount of premiums paid by the policy holders.

Who is the highest paid LIC agent?

Bharath Parekh. Parekh, who missed out on watching matinee shows and playing cricket during his youth, is now a millionaire who can afford most luxuries of life. As an agent, his annual income is over Rs 4 crore, around five times more than the Rs 87 lakhs that LIC chairman DK Mehrotra took home last year.

Does LIC agent pay first premium?

Generally, the commissions start from around 10% to 15% of your premium. This is for the first premium. So if you are paying a premium of Rs 40,000, your agent will pocket Rs 16,000. The next three years, the agent will get around 7% as commission and the rest of the term, 5%.

How can I join LIC agent?

Here are the steps to apply for becoming an LIC agent:

1. Visit the official website of LIC.
2. Click ‘Be an Agent (Individual)’ under Join Our Team menu tab.
3. Click ‘Apply-Now’ located on right side of the page.
4. Fill in the application form to take it ahead with the branch office.

Is LIC agent a government job?

Generally any Govt. Employee barred from doing LIC agency. But I think if you get no objection certificate from your employer then LIC may agree to continue your Lic agency.

Is being LIC agent a good career?

1] Joining A Successful Team: By joining LIC as agent, one will be a part of the country’s finest team of life insurance Agents. 2] Attractive Remuneration: LIC 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.

Is it worth to become LIC agent?

2] Attractive Remuneration: LIC 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. As LIC agent, you can set your own income targets with a potential to earn as much as you want for the rest of your life.

Is LIC agent a government employee?

NO. You can not work as a LIC agent if you are a Government employee.

Can LIC agents sell online?

LIC advisor usually use the offline method of selling insurance. You can, however, sell LIC policies by the online mode through the LIC website as well.

Is LIC a good job?

I would say a perfect job. As you very well know how big is LIC as a company. It’s a great chance for you to secure a job there and work for one of the biggest company. Just to let you know LIC ADO has just 8,581 vacancies, so you can directly go and apply and start preparing for the same.

What is the duty of LIC agent?

Your responsibility as an Agent will be to Ensure that premiums are paid regularly by the policyholder. See that age of the life assured is admitted in all policies. Advise and help policyholders in effecting nomination/ assignment. Try to prevent lapsation of policies.

What is the salary of LIC insurance agent?

Average LIC Agent Salary is Rs. 39,200 – 67,000/-per month. Basically LIC Agent Salary or earning depends on commission paid by LIC, as there are more number of premium paid by clients people more commission will be provided to LIC Insurance Agent Know, How much LIC Insurance Agent Salary?

What is LIC agent’s commission?

LIC agents get many benefits and the details of these commission are not just limited to cash but it also includes insurance, expenses, office maintenance, stationery purchase etc. There are many ways a LIC agent is paid commission is just one part of a agent’s total earnings.

Should you be worried about LIC agent job?

But there is nothing to really worry about. Thanks to Life Insurance Corporation of India or LIC, you can simply work as the LIC agent and make money. And making money is not the only attraction to become LIC agent: you also get attractive salary, commission and perks like lifetime pension and membership to exclusive clubs.

What are the salient features of LIC agency?

Salient Features of LIC Agency 1 Lifelong income: LIC pays you the commissions on premiums for policies you sold long after you retire. 2 Some LIC agents earn between Rs.1.2 million to Rs.1.5 million per month, which is higher than the best paid job in India. 3 You can also sell LIC policies by opening an online agency.

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