LIC and its features
LIC is not just the No. 1 insurance provider in India with over 2.7 million customers, but LIC is the biggest life insurance company in the world. There are a lot of other features as well for LIC.
- LIC has the best infrastructure in all its 2048 branches across India. All the branches are fully computerized.
- There are policies available for all segments.
- LIC stands for its transparency of operations.
- LIC operates on the best practices in the insurance industry.
- The Claim Settlement Ratio is unparalleled in LIC.
- LIC offers sovereign assurance to all its customers.
- Most important of all, LIC is undertaken by the government and so it is highly reliable.
What are the benefits of becoming a LIC agent?
Now that we have seen the special and unique features of LIC as the largest insurance provider, here is what LIC has to offer for its agents.
- Being a LIC agent gives you the freedom to be your own boss.
- You can enjoy flexibility in work hours; when you want to work and how long you wish to work is your choice.
- The earning potential being a LIC agent is unlimited. You can decide and work towards whatever is your financial goal; there is no cap or limitation to what you can earn.
- As a LIC agent, you can enjoy lifelong commission.
- Apart from your commission, LIC offers you membership to its prestigious club.
- Like with other employments, you also get to enjoy benefits like gratuity, mediclaim, term insurance, festival advance, etc.
- LIC also pays for office costs such as maintenance and operating cost for your office.
- You can avail interest-free vehicle loan and laptop advance to enhance your working potential.
- LIC also offers home loans at best rates for its agents.
- Being a life insurance agent, you get to be in one of the premier paid occupation in the world.
What kind of training does LIC provide?
LIC has state-of-the-art training set up for its agents.
- The training comprises of 50 hours of classes that explain all parts of life insurance as a business.
- There is a pre-license exam that you have to clear after the training. This examination is conducted by the Insurance Regulatory and Development Authority (IRDA).
- You will be bestowed a license by IRDA once you successfully clear the exam and you can start working as an insurance agent after that.
- Now you will become a part of the LIC team and will be employed as an agent in one of the LIC branch offices under the LIC Development Officer.
What are the eligibility criteria for becoming a LIC agent?
- You should have passed HSC as the minimum requirement.
- You should be at least 18 years old.
- Anyone meeting the above two basic requirements can become a LIC agent: college students, homemakers, retired personnel, teachers, marketing and salespeople, businessmen, etc,
- You can work part-time or full-time depending on your requirement and time availability.