Table of Contents
What is direct agent in LIC?
Continuity as a Direct Agent: A Direct Sales Executive may be allowed to continue individual agency with LIC if he desires so, but only as a Direct Agent either after the period of Contract is over or even when the Contract with him is pre maturely terminated for reasons other than misconduct and if he is otherwise …
How much is the commission for LIC agent?
There isn’t any fix salary from the LIC for the agents. Though, Agents earn the commission for the policies they sale. LIC offers 25% to 35% commission on the policy premium for the first year, then 7.5% for 2nd & 3rd Year + 5% till the policy maturity.
Can LIC agent become rich?
Earning and other benefits: Career as a LIC agent is considered one of the highest paid profession in the country. Top performers in LIC are earning nearly 3 to 4 Crores per year. LIC agent can earn unlimited since there is no specified salary.
How can I become LIC direct agent?
Process to Become LIC Agent
- Contact the nearest LIC branch office and meet the development officer with the basic documents.
- The officer will conduct an interview.
- The 25-hour training will cover all the aspects related to life insurance policies offered by the insurer.
Do LIC agents 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.
What is monthly income of LIC agent?
Average Life Insurance Corporation Of India LIC Agent salary in India is ₹ 1.9 Lakhs for less than 1 to 17 years of experience. LIC Agent salary at Life Insurance Corporation Of India ranges between ₹ 0.2 Lakhs to ₹ 4 Lakhs.
What if LIC agent dies?
In case of agent’s death while his agency subsists, after agency was in force for two years or over, renewal commission will continue to be payable to his heirs or nominee provided there was a business of not less than Rs. 1 lakh in force at the time of death.
What is the retirement age of LIC agent?
Although there is no age of retirement for an LIC agent, it rewards its agents with a gratuity of upto Rs. 3.00 Lakh on completion of qualifying tenure i.e. 15 years.