Benefits to LIC Agent
- Club membership allowance up to 1.9 lacs
- Interest free car loan up to 20 lacs
- Gratuity up to 2 lacs (at present) on completion of 15 qualifying years of service
- Group insurance up to 5 lacs
- Pension under swavalambhan or samvardhan scheme
- Eligibility to participate in various competitions
- Foreign trips through competitions or MDRT
- House building loan up to 4 Lac @5% int. & additional 4.5 Lac @ 7.5%
- Mediclaim coverage up to 1 Lacs (free for corporate club members)
- Our top agents are earning more than 1 crore of commission every year
- Over 20000 agents are earning commission of more than 10 Lacs every year
- As an agent you can be a financial professional and a family friend of your customer
- LIC is the largest financial institution with 14 lacs cr. of assets
- LIC has the largest policy base with over 28 cr. Policy holders in 35 cr. Policies
- You can be a part of 15 lacs strong LIC family
Commission of LIC Agent
An agent is entitled to payment of commission on the policy sold by him/her. The rates of commission payable depend upon the product sold. First-year commission ranging from 10% to 25% with Bonus Commission @ 40% of F.Y.C. and renewal commission @ 5% spread across the Premium payment term is payable. Single premium plan flat 2% commission is payable.Commission: An agent is entitled to payment of commission on the policy sold by him/her. The rates of commission payable depend upon the product sold. First-year commission ranging from 10% to 25% with Bonus Commission @ 40% of F.Y.C. and renewal commission @ 5% spread across the Premium payment term is payable. Single premium plan flat 2% commission is payable.
Pension of LIC Agent
An agent can opt for contributory Pension scheme - Svyalambhan or Samvardhan which provides for old age pension after the age of 60 years
Gratuity of LIC Agent
An agent working continuously for 15 years or more is entitled to a gratuity of maximum Rs 200000/- after attaining the age of 60 / 65 years
Group Term Insurance
Agents are entitled to Group Insurance Coverage
Your Expected Commission for Next 5 years
| Expected Commission | |||||
|---|---|---|---|---|---|
| Expected Premium | 1st year | 2nd year | 3rd year | 4th year | 5th year |
| 12,00,000 | 4,20,000 | 90,000 | 90,000 | 60,000 | 60,000 |
| 24,00,000 | 8,40,000 | 1,80,000 | 1,80,000 | 1,20,000 | |
| 36,00,000 | 12,60,000 | 2,70,000 | 2,70,000 | ||
| 48,00,000 | 16,80,000 | 3,60,000 | |||
| 60,00,000 | 21,00,000 | ||||
| TOTAL | 4,20,000 | 9,30,000 | 15,30,000 | 21,90,000 | 29,10,000 |
As Years pass by your Renewal Commission keeps on increasing thereby assuring you an income for the next 20 to 25 years. Even when you stop working or to your family on your death.
We will make sure through our meticulous training that your earnings should be as per above chart, but that requires willingness on your part to take lot of physical pain.
Support from our side
After getting the Appointment Letter you will be trained by Senior Business Associates (Development Officer) Shri Makarand Videgoti. Training of agent is his SBA Office. Our training is designed in such a way that we give committed agents of International repute to LIC OF INDIA. You will be trained on need based selling techniques. Your activity will be monitored regularly so that you achieve your desired target on time and earn handsome commission. You will be able to achieve all your dreams.
Our training program is designed in such a way that you will qualify for MDRT, COT, TOT and Corporate club, Chairman club with in 4 years of your agency i.e. your package will be at least 24 lakhs after 4 years.
