WANT TO BECOME LIC AGENT?

Recruitment of LIC Agents in Nagpur

Third largest city of Maharashtra and winter capital of the state of Maharashtra, Nagpur a major hub for political and commercial activities and fifth fastest growing city of the world. It is also among the smart cities in Maharashtra. Life Insurance Corporation of India also known as LIC is one of the leading public sector insurance company and tops terms of wide spread of its network throughout the country. LIC has gained a very deep and wide coverage in almost every knuck and corner of the country because of the availability of its agents in almost every part of the country. We are screening candidates for the post of LIC agents in Nagpur. If you want to become an LIC agent in Nagpur or nearby towns viz. Awale Nagar, Bhiwapur, Digdoh, Hingna, Jagdish Nagar, Janki Nagar, Gandhibagh, Pardi, Kapsi, Dhantoli, Davlameti, Khapri, Mankapur, Ravi Nagar, Wadi, Kalameshwar, Kamptee, Katol, Kuhi, Mohpa, Umred etc. just fill in the form given here and we will get back to you.

Opportunity:

Insurance sector is growing rapidly in the country with the growing ratio of national level of education. People are becoming more aware about the importance of insurance in life hence investing more for their future. LIC has earned a very strong market share in the industry and enjoys a very good reputation among the masses. Today insurance agents do not have to chase people for selling insurance. People themselves look for an honest insurance agent for their saving and investment needs. Becoming an LIC agent always gives an added advantage by virtue of the reliability the company has earned for its governments undertaking and constantly positive performance for decades.

Benefits:

LIC is also offering very attractive emoluments, commission and performance based bonuses to its agents. This can turn into a very successful career option for the sole agents of LIC or may become a significant source of second income for those already employed in some other occupation and selling LIC policies as a secondary or complimentary profession. If you want to get an idea about what you can achieve as an LIC agent, you can check the details of successful LIC agents given here. Given below is a brief idea of what LIC agents get paid:

  • Fix emolument + Attractive commission for long-term i.e. 35% of the premium in the first year of the policy + 5% every year till the maturity of the policy.
  • Several performance incentives.
  • Interest free loan for all your needs.
  • Commission to nominee in case of death of the LIC agent.
  • Retirement benefits including pension and gratuity.
  • Club memberships with multiple benefits viz.  BM Club, ZM Club, Galaxy Member, Corporate Club, The Chairman’s Club, etc.
  • International recognition in the form of Million Dollar Round Table (MDRT)

Who can apply:

Anyone, be it fresher or experienced, student or teacher, graduate or professional, working woman or housewife, lawyer, accountant, CA, CS or just anyone engaged in any other job or profession can become an LIC agent. Anyone who fulfils basic eligibility determined by the company for recruitment of its agents is a potential candidate. There is no discrimination in selection of LIC agents. Candidates do not have to pay any fees at any stage of selection.

Eligibility:

The only criteria LIC wants its agents to fulfil is 18+ years of age and certificate of passing 10th class. There is no other condition set by the company for recruitment of its agents. LIC provides required training and study material to selected candidates and appoints them under the guidance of a Development Officer who supports you on every stage of acquisition.

If you are looking for a job in Nagpur, or anywhere near-about viz. Awale Nagar, Bhiwapur, Digdoh, Hingna, Jagdish Nagar, Janki Nagar, Gandhibagh, Pardi, Kapsi, Dhantoli, Davlameti, Khapri, Mankapur, Ravi Nagar, Wadi, Kalameshwar, Kamptee, Katol, Kuhi, Mohpa, Umred, just fill in the form given here and we will get back to you.

FAQ

Frequently Asked Questions by Candidates willing to join LIC of India as Insurance Agent in Nagpur

How can I become an LIC agent in Nagpur?

Simply submit the form given above or call us at 9044336644 to join LIC as an Agent in Nagpur for a rewarding career that gives handsome commission, royalty based income, gratuity, awards and recognition and many more. LIC offers very attractive emoluments and lucrative commission structure to the deserving candidates. There are many other performance based incentives for the promotion of candidates.

How much does an LIC agent earn?

There are many assumptions about the salary of LIC agents. Though an LIC agent does not get a fixed salary but he can earn more than a doctor or an engineer or a lawyer or any other professional. There are thousands of LIC agents who earn in lakhs per month. 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. Besides salary, an  LIC agent becomes eligible for several lucrative perks with the growth of his/her business. Some of the benefits include club membership, low/no interest loan, free insurance cover, gratuity and many more.

What is the minimum target for LIC agent?

The beauty of LIC Agent profile is that you yourself decide your target. You decide how much you want to earn per month or per annum. Once you decide your earning, calculate the total premium you need to generate on monthly basis to achieve your earning. For example, if you want to earn one lakh rupees a month, you need to sell insurance policies for 20,000/- premium. You can either sell one policy of 20,000 monthly premium or 4 policies of 5000/- each or 20 policies of 1000 each. This way you decide your own targets.

However, to survive your agency code, you need to do minimum 12 policies of any amount or 6 policies and 50,000/- premium or 1 Lakh premium in a year.

What is the commission of an LIC Agent?

Commission varies on various factors eg. Single premium policies give you 2% commission, regular policies upto 15 years PPT give you 28% commission and regular policies having 15+ year PPT gives you 35% commission. In the subsequent years, you get 7.5% commission in the second and third year, and from 4 th year onwards you get 5% commission till the policy premium term.

How can I apply online to become LIC Agent in Nagpur?

If you want to join LIC in Nagpur to earn a handsome income for life, submit the form given above or call us at 904433664. Candidates willing to become LIC Agent can apply online. Yes, now the process of LIC Agent Registration is available online. In fact the entire process of selection is conducted online only.

What is the Salary of an LIC Agent?

An LIC Agent does not get a fixed salary as such but he earn a handsome commission by way of commission on the insurance policies he sells. The commission is paid twice in a Month ie. On 1 st of every month and 16 th of every month. In the beginning, it may not come to as a salary but as you grow your career in insurance, you start getting the recurring commission for the policies you have done in the past. That way, you start getting a fixed remuneration every month which keeps growing as you generate more business month by month.

Is LIC agent a good career?

Like any other profession, LIC agency career also requires dedication, hard work, consistency, punctuality, customer service, achieving the targets, setting the new goals. Successful LIC agents of India earn in crores every year, to name few Mr. Bharat Parekh, Mr. Venkatesh Rao and many top agents of LIC of India earn in crores and have achieved a very good career as an LIC Agent.

Can I join LIC as part time agent in Nagpur?

Yes, if you are already working somewhere or a professional, you can join LIC as a part time agent. Initially, most people join LIC as a part time and gradually once their income gets stabilized you start it as a full time agent. It is completely your decision when to make it as a full time career. An accountant would keep his agency running on part time basis only. However, as an LIC agent when you start earning more than your full time job, you should quit that job and join LIC as full time agent.

Can a government employee become LIC Agent?

No, a government employee cannot become an LIC Agent, but if you want to earn a second income by joining LIC as an agent, you can take the agency code in your spouse name or any relative’s name.

Can a Chartered Accountant join LIC as an Agent?

Due to code of ethics, a Chartered Accountant cannot become an LIC Agent, but if he wants to earn a second income by joining LIC as an agent, he can take the agency code in his spouse or relative’s name.

Who are Development Officers and who will train me in Nagpur?

Development Officers in LIC are gazetted officers who not only train you but also act as a mentor in your career growth in LIC insurance. We assign you with top and experienced LIC Development Officer in Nagpur who have years of experience. They will groom you, train you and make you a successful LIC agent in Nagpur. They will always guide you and teach you on various methods to achieve various targets, club memberships, MDRT and other rewards and recognitions.

Benefits of Becoming LIC Agent