The best advantage of joining LIC is that it can be done full time or part time. There is no limit to earning in this.
Image Credit source: NewsNCR Hindi
The government has opened the treasury for the country’s largest government insurance company LIC. If you are 10th pass and want to increase your earning by starting part time from now then there is a chance to earn money by joining LIC. LIC agent is a good option for you. The most important thing is that there is no need for any kind of fixed timing in this. You can do this work by contacting your client sitting at home. LIC has reduced the educational qualification from class 12th to class 10th. In such a situation, now more and more youths have the opportunity to join LIC. Let us know what is the way to join it and how will be the earning.
Part or Full time option
The best advantage of joining LIC is that it can be done full time or part time. There is no limit to earning in this. The specialty of business with LIC is that the more you work, the more commission you will get, that is, the earning in this business is unlimited. The commission on LIC’s policy is decided according to the policy.
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Strategy of earning 70 to 75 thousand rupees
Delhi’s Geeta Kandari is associated with LIC for many years. And by working only 4 to 5 hours a day, she is earning 70 to 75 thousand rupees a month. Gati Kandari told NewsNCR Hindi that by working with LIC you can fix your desired income. At the same time, the most important thing is that for this you can decide the working hours yourself. Kandari says that the older you become with LIC, the more your earnings increase. After a time, the biggest part of your income becomes the old policy. Your income gets better with renewal policies.
agents earn millions
According to the company’s website, if a customer takes a 20-year policy and pays a premium of Rs 10,000 every year, then after 20 years, the agent gets Rs 1.35 lakh in endowment policy and Rs 1.43 lakh in moneyback policy. This is from just one customer. Earning is The more policies an agent gets done, the more his earnings increase accordingly.
Gets up to 25% commission
LIC gives up to 25 percent of the policy installment as commission to its agents. This is applicable only on the first installment of the policy (first year’s premium), after which the commission decreases. The agent will get commission as many times as the premium is deposited by the policyholder. The agent has to do the policy only once in a way. After that, his commission is fixed on every installment.
What is the process to become an LIC agent?
To become a LIC agent, the educational qualification should be at least 10th pass and the age should be 18 years. Earlier it was necessary to have 12th pass to become an agent. Contact your nearest branch office and meet the development officer there. The branch manager will conduct an interview and if they find you suitable, you will be sent to the department/agency training center for training. The training is of 25 hours. It covers all aspects of life insurance business. On successful completion of the training, it is necessary to pass the pre-recruitment test to be conducted by the Insurance Regulatory and Development Authority of India (IRDAI). Those who pass the exam are issued an appointment letter and identity card of an insurance agent. You are appointed as an agent on behalf of the branch. During this you will be part of the team under your Development Officer.
What are the required documents
6 passport size photographs. Photocopy of 10th mark sheet. Address Proof- Voter ID, Aadhaar Card, Driving License and PAN Card copy.
This is how commission is fixed
According to LIC’s website, commission is available in different ways under endowment and moneyback policies. The rates of commission are different in both the policies. Commission is available up to 35 percent of the total part of the installment on endowment policy and up to 25 percent of the total part of the installment in moneyback. After this the commission starts decreasing. Agent’s commission is decided by LIC policy. The agent gets up to 25% of the first commission installment on the endowment policy. Apart from this, 40 percent of the additional commission is given to the agent. If a client appointed by an agent has deposited Rs 10,000 as the first installment of the policy, then the agent will get Rs 2,500 as commission. Apart from this, 1000 rupees is 40 percent of the commission. In this way, the agent will get a commission of about Rs.3500 on the first installment. The longer the policy, the more the agent will earn.
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