The country’s largest insurance company LIC earns crores of rupees of profit every year. It also has lakhs of agents across the country with the help of whom it sells 99 percent of its insurance. In return, they are given commission. Let us know what is the process of becoming an LIC agent, how much do they earn and what are the benefits of becoming an LIC agent.
Life Insurance Corporation of India (LIC) is the largest insurance company in the country. In the June quarter, LIC made a profit of more than Rs 10 thousand crores. At the same time, in the last three years, the insurance company has also made a huge profit from the stock market and the market value of its investment has doubled to Rs 15.72 lakh crores. But, do you know how much money the agents of LIC, which earns profits of lakhs of crores, get?
How much does a LIC agent earn?
The income of the agents of the government-owned LIC varies from state to state. LIC agents earn the most in Andaman and Nicobar Islands. There their average monthly income is Rs 20,446. On the other hand, LIC agents earn the least in Himachal Pradesh. On an average, they earn Rs 10,328 per month. There are 273 LIC agents in Andaman and Nicobar and 12,731 agents in Himachal Pradesh. This information has been obtained from the data of LIC, which it has provided to the Finance Ministry.How many LIC agents are there across the country?
LIC has around 14 lakh agents across the country. The maximum number of agents is in UP, which is the largest state of the country. Here LIC has more than 1.84 lakh agents and their average monthly income is Rs 11,887. Maharashtra also has 1.61 lakh LIC agents. They earn an average of Rs 14,931 per month. West Bengal is the third largest state in terms of the number of agents. Here LIC has around 1.2 lakh agents, who earn an average of Rs 13,512 per month.
What is the work of a LIC agent?
The country’s largest insurance company LIC sells 99% of its insurance through agents. In return, the agent gets commission. Also, as long as the insurance is in force, the agent gets some money as commission from every installment. Sometimes it happens that the agent starts getting more commission from the old insurance than the new one. People trust LIC the most, so it is easy to sell its insurance.
How to become a LIC agent?
To become a LIC agent, you can apply both offline and online. Offline, you have to go to the nearest LIC office and fill and submit the application form. After this, you are called for an interview. If everything is right and you meet LIC’s expectations, you will be selected and given training.
Online way to become an agent?
To apply online, you have to visit agencycareer.licindia.in. Here you will be able to register yourself online. If everything is correct, you will be sent information from LIC through phone call or email. In this, you will be told about the further process and rules.
Eligibility and documents to become an agent
- It is mandatory to have passed 10th or 12th.
- You must be at least 18 years of age.
- 6 passport size photographs will be required.
- Residence Certificate, Aadhar Card and PAN Card.
Benefits of becoming a LIC agent
- There is a facility to take interest free advance for purchasing a car.
- You are also given money at concessional rates for building a house.
- LIC agent also gets the benefit of gratuity facility.
- One gets the benefits of office allowance, travel allowance, letter pad etc.
- LIC agents get preference in LIC recruitment.
Also Read-
- Atal Pension Yojana: By depositing only 7 rupees per day, you will get 60,000 rupees pension for life, see calculation
- LIC’s superhit policy! You will get guarantee of security and savings, will also save tax in two ways
- Income Tax Refund: If you get a delayed refund, the government will pay you interest, know how much your money will increase
