As of 2019, Life Insurance Corporation of India had total life fund of ₹28.3 trillion.The total value of sold policies in the year 2018-19 is ₹21.4 million. Life Insurance Corporation of India settled 26 million claims in 2018-19. It has 290 million policy holders.
The students who want to begin their career as LIC agent need at least to pass their 12th examination from any certified board. This is the minimum educational qualification which everyone requires to have for becoming a LIC agent. Apart from this, the age of the candidates must be 18 years or more. If you’re fulfilling all we have mentioned above then follow the instructed given in next section.
How to Become a LIC Agent?
Try to get a meeting scheduled with development officer of the nearest LIC’s branch office.You will be sent to the training centre of the department/ agency once the branch manager approves your application for the training after interviewing you. Knowledge about the all aspects related to life insurance business will be imparted to you during 50 hours long training.
After successfully completing the training, you would need to clear an examination organised by Indian Insurance Regulatory and Development Authority. After clearing the examination, you will be appointed as a LIC agent by the branch office. You will become a member of the team which works under the supervision of a branch officer.
Who can sit in the exam?
Before getting appeared into the examination for becoming a LIC agent, the candidates need to receive 50 hours long training which is imparted at training centre of the department. To receive the training which is prerequisite to the examination, the candidates must clear their 12th class examination from any certified education board. As far as minimum age to receive the training is concerned, the age of the candidates should be 18 years or more than it. In the training, the important knowledge of all aspects related to life insurance business is imparted to the candidates.
Who can become a LIC agent?
Those who like to stay outside and meet people can become a LIC agent.
People who have an ambition of owning a business can grow as a LIC agent.
Those who consider only their clients as a boss can work as LIC agent. Those who themselves want to decide their working hours can give good outcome as LIC agent.
Awards and recognition
A LIC agent is one who is an important source of the business for the organisation. The LIC agents develop, build, and always keep maintained contacts with the clients who give business to the organisation by buying the different policies. This is why the recruiters appoint the agents with utmost diligence. They begin getting high-level of services and business if they successfully appoint a right person. To fill the lack of knowledge oriented people, the organisation has begun looking for young people who are service oriented and possessing good communication skill. Moreover, if any candidate posses experience of sales, then they get extra benefits.
The candidates need to pass at least 12th class from any certified educational board as minimum educational qualification.
The age of the candidates must be 18 years or more. The candidates need to appear in the 50 hours long training. The candidates require clearing the pre-recruitment test.
Skills to build the close contacts with clients
High energy level
LIC official website says, “We offer one of the best remuneration systems in the industry that not only takes care of your current earnings, but also guarantees an earning for the future. What’s more, you can set your own income targets with a potential to earn as much as you want for the rest of your life.”
LIC says, “LIC agents are constantly recognized and rewarded for their performance. Numerous competitions all year round promote healthy competition amongst agents and recognition for their efforts. Depending on the level of business the agent achieves in a year, he or she can become a member of various clubs such as the Corporate Club, the Chairman’s club, etc.
“Each of these clubs have specific performance criteria for qualification and members of these clubs are entitled to attend seminars held at exotic international and domestic locations each year. Advisors can also qualify for the renowned MDRT (Million Dollar Round Table), an exclusive international insurance advisors club.”