Frequently Asked Questions
Q: What are the qualifications for an LIC agent?
Age Limit: The minimum age requirement for applicants is 18 years. Educational Qualifications: Applicants from rural areas should have passed 10th grade, while those from urban areas should have passed 12th grade.
Q: Who can become an LIC agent?
Anyone aged 18 or above who meets the educational requirements can join LIC as an agent. This includes students, housewives, retirees, self-employed individuals, working professionals, entrepreneurs, individuals with sales experience, and those with extensive social networks. If you are looking for a fulfilling career as an LIC agent, consider joining us in Seoni, where we offer exciting opportunities and comprehensive support for your success.
Q: What skills are necessary to become a life insurance advisor?
The necessary skills to become a life insurance advisor are as follows: 1. Good communication skills 2. Leadership qualities 3. Friendly nature 4. Dedication to work and persuasive abilities 5. Knowledge of various types of life insurance.
Q: What documents are required to become a life insurance advisor?
The required documents are as follows: 1. Four color passport-size photographs. 2. Photocopies of 10th, 12th, and graduation mark sheets. 3. Photocopy of Aadhar Card. 4. Photocopy of Bank Passbook. 5. Photocopy of PAN Card. 6. Registration cum IRDAI License Exam fee of Rs. 650/-
Q: What is the minimum target for an LIC agent?
Every LIC agent is required to achieve a minimum target of 6 policies and ₹50,000 in premium during their agency year. Once they complete a period of 5 years, this target is not mandatory for earning commissions.
Q: Do I need to take an exam to become a life insurance advisor?
Yes, you need to pass an examination conducted by the Insurance Regulatory and Development Authority of India (IRDAI). You need to pass the Pre-Recruitment Examination (IC38) conducted by IRDAI, scoring a minimum of 35% or at least 18 correct answers out of 50.
Q: What is the salary of an LIC agent?
All LIC agents earn commissions based on their sales. Agents receive commissions ranging from 2% to 35% of the premium when a policy is sold. The commission is received for each policy sold. There is no limit to your salary as you earn more commission by adding more people to your policies.
Q: How much can I earn as an LIC agent?
Unlimited earning potential based on the proportion of business you bring. After becoming an LIC agent, you can comfortably earn between ₹30,000 to ₹40,000 on average. If you have spent a lot of time in this field and have added a large number of people to your policies, you can earn commissions ranging from ₹1,00,000 to ₹2,00,000.
Q: Can a government employee become an LIC agent?
No, a government employee cannot become an LIC agent. However, if you want to earn additional income by becoming an agent in LIC, you can take the agency code in the name of your spouse, parent, or relative.
Q: Can LIC agents operate their business online?
Yes, LIC agents can leverage online platforms to market and sell policies. LIC provides digital tools and platforms "ANANDA" New Business Application to facilitate online business operations and customer interactions.