BENEFITS OF BECOMING AN AGENT
Independence
An agent in LIC is a true entrepreneur. He has the freedom to be his own boss; work as per his choice, choose his own clients and earn as per his needs and all of this without having to make any initial capital investment.
Attractive Remuneration
LIC takes care of the current earnings and guarantees an earning for the future. What's more, the agent can set his own income targets with a potential to earn as much as he want for the rest of his life.
Power of LIC Commission
TOTAL COMMISSION DETAILS PER POLICY
First Year's commission of Rs 25000/- is paid to you on every Rs 100000/- which your policyholders pay as first year's premium when they take new policies of specified plans for specified periods. An additional sum of Rs 10000/- is paid to you as Bonus Commission on every Rs 100000/- of first year's premium provided you fulfil certain requirements. Besides, renewal commission at lower rates are also payable to you on subsequent premiums paid by the policyholders. Because of this unique feature, your income goes on steadily increasing every year as shown in the next chart.
Magic of Renewal Commission
CHART SHOWING GROWTH OF INCOME
Income illustration: One proposal per week ~ 50 proposals per year with Average Rs 2 Lakh Sum Assured and 1st year premium collection of Rs 10000 (with a business growth of 10% for next 15 years) at the rate of 1st year Commission of 25% and Bonus 10%, 2nd & 3rd. year Commission being 7.5% and 5% on all the subsequent years.
Total Income of 15 years : Rs.2,26,70,939/-
Renewal Commission after 15 years (like Family Pension, Commission Being hereditary) : Rs 85,711/- per month.
FUTURE SECURITY
GROUP GRATUITY TO AGENTS
Gratuity upto a maximum of Rs 300000/- is payable provided the Agent has continually worked for 15 or more qualifying years & age not below 60 years or terminated after continually working for 15 or more Q.Yrs. or confirmed agent dies or incapacitated.
GROUP TERM INSURANCE SCHEME FOR AGENTS (GTS)
Agents less than 3 years: 1 Lac Insurance.
Agents 3 to 5 years: 3 Lac Insurance.
Agents 5 to 10 Years: 5 Lac Insurance.
Agents above 10 years: 10 Lac Insurance.
CLUB MEMBERSHIP
Your consistent good performance confers on you the prestigious Club Membership at various levels such as Branch Manager, Divisional Manager, Zonal Manager or Chairman. The Club Members are eligible for grant of interest-free advance on certain items.
ADVANCES
To make it easy for you to enlarge your contacts, LIC grants various types of interest-free advances to Club Member Agents as well as other Agents.
Rewarding Career
As a LIC agent, he will have a satisfying career; he will be helping people to realize their dreams by fulfilling their financial goals and assisting the families in case of unforeseen circumstances.
The difference a LIC agent makes in the life of his policyholder is very rewarding and satisfying. To enable the agents to outperform in this highly competitive market, LIC provides best in-class training system. The multidimensional training programme imparted to the field force facilitates him to be become a specialist in Life Insurance Sales.
LIC also supports its agents with innovative sales and marketing tools. Being associated with LIC which is the most trusted Brand, the Customers are offered unmatched financial strength with sovereign guarantee.