Insurance, despite being so useful for everyone, has failed to register its expected growth so far in India. It is estimated to develop at an annual rate of 15% or more. Hence the industry is expected to be a good resort for aspiring employees. Life Insurance Corporation of India, formerly known as LIC of India or popularly known as LIC, is recruiting agents in the city of Saharanpur and it’s nearby towns namely Yamunanagar, Deoband, Jagadhri, Roorkee, Manglaur and Radaur.
The job of an insurance agent is simple and there is nothing technical about it. They have to meet people and assess their need for insurance and inform them of the same. They then have to suggest suitable insurance policy for them. Once it is done, the insurance agent should help the customer register a policy in his/her own name and nominate it to whomever she/he may want to. The agent should then follow up the customer for timely payment of premiums. This is how an agent’s commission keeps growing with the time.
Insurance companies are regulated by an independent regulatory board known as IRDA, established by the government of India. Candidates who have passed 10th class and above 18 years of age need to face an examination conducted by IRDA to be eligible or the post of an insurance agent or insurance advisor. Once selected, a candidate can be appointed as an agent by the company.
Unlike any usual 9 to 5 job, the job of an LIC agent is not a time bound one. An agent has to visit his/her prospects at their convenience hence need to visit them even in early morning or late evening hours. Therefore LIC leaves its agents free to work at their own convenience, along with other chores, if they have to.
The opportunity is available for part time too. You can start earning additional income, extra income, second income through your Registration here now. Apply online to become an independent LIC agent or run your own agency. Continue reading if you want to know about salary, jobs, vacancy, recruitment, 2020, 2021, requirements, benefits, qualification, eligibility and career prospects. Become an LIC agent or an advisor, work as a representative or as an agent of the company in your city.
LIC agents get Fix emolument + Attractive commission for long-term i.e. 35% of the premium in the first year of the policy, 7.5% in the 2nd & 3rd year of the policy and thereafter 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, reimbursement of office expenses, Club memberships with multiple benefits viz. BM Club, ZM Club, Galaxy Member, Corporate Club, The Chairman’s Club, etc. and above all International recognition in the form of Million Dollar Round Table (MDRT).
LIC assures a rewarding career, supportive team, attractive emoluments, independent working, excellent training, infrastructure support, club memberships and more.
Whether you are an unemployed, a fresher, Self-employed, College students, House wives, Tax Practitioner, Sales/Marketing Professionals, Brokers, Teachers, Bankers/Loan Providers, Accountants/Chartered Accountants, Consultants, Businessmen, a retired person or just anything else, you are an eligible candidate to apply for the post of LIC agent.
The leading insurance service provider company in India, LIC is opening vacancies for LIC advisors in Saharanpur and it’s nearing towns namely Yamunanagar, Deoband, Jagadhri, Roorkee, Manglaur and Radaur. Qualification required for the post includes age above 18 years and education minimum upto 10th. Anyone willing to apply for the job can fill in the form given here. We will share this information with the authorized representatives of the company who would contact you for verification and further needful in the process of selection.
Frequently Asked Questions by Candidates willing to join LIC of India as Insurance Agent in Saharanpur
How can I become an LIC agent in Saharanpur?
Simply submit the form given above or call us at 9044336644 to join LIC as an Agent in Saharanpur 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 Saharanpur?
If you want to join LIC in Saharanpur 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 Saharanpur?
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 Saharanpur?
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 Saharanpur who have years of experience. They will groom you, train you and make you a successful LIC agent in Saharanpur. They will always guide you and teach you on various methods to achieve various targets, club memberships, MDRT and other rewards and recognitions.
