LIC Update: Work with LIC for just 4 hours, monthly income will be Rs 75 thousand..
The government has opened the treasury for the country's largest government insurance company LIC. If you are a 10th-pass and want to increase your earnings by starting part-time now, then there is a chance to earn money by joining LIC. An LIC agent is a good option for you. The most important thing is that there is no need for any kind of fixed timing in this.
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You can do this work by contacting your clients sitting at home. LIC has reduced the educational qualification from 12th class to 10th. In such a situation, now more and more youth have the opportunity to join LIC. Let us know what is the way to join it and how will be the earning.
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Part or full-time option-
The best advantage of joining LIC is that one can work full-time or part-time in it. There is no limit on earning in this. The specialty of doing business with LIC is that the more you work, the more commission you will get, that is, the earnings in this business are unlimited. The commission on the LIC policy is decided as per the policy.
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Strategy to earn 70 to 75 thousand rupees-
Geeta Kandari of Delhi has been associated with LIC for many years. And by working only 4 to 5 hours a day, she is earning 70 to 75 thousand rupees per month. While talking to the media, Gati Kandari said that by working with LIC, you can fix your desired income.
The most important thing is that for this you can decide the working hours yourself. Kandari says that with LIC, the older you get, the more your earnings increase. After a time, the largest part of your income becomes the old policy. Your income gets better with renewal policies.
Agents earn lakhs-
According to the company's website, if a customer takes a policy for 20 years and deposits a premium of Rs 10,000 every year, then after 20 years the agent gets Rs 1.35 lakh in the endowment policy and Rs 1.43 lakh in the moneyback policy. This is from just one customer. There is income. The more policies an agent gets, his earnings also increase accordingly.
You get a commission up to 25%-
LIC gives up to 25 percent of the policy installment as a commission to its agents. This is applicable only on the first installment of the policy (first year's premium), after which the commission is reduced. The agent will get a commission every time the policyholder deposits the premium. In a way, the agent has to do the policy only once. His commission is fixed on every installment.
What is the process of becoming a LIC agent?
To become a LIC agent, the educational qualification should be at least a 10th pass and the age should be 18 years. Earlier to become an agent it was necessary to pass 12th. Contact your nearest branch office and meet the Development Officer there. The branch manager will conduct an interview and if they deem you a good fit, you will be sent to the department/agency training center for training. The training is of 25 hours.
It covers all aspects of the life insurance business. Upon successful completion of the training, it is necessary to pass the pre-recruitment test conducted by the Insurance Regulatory and Development Authority of India (IRDAI). Those who pass the examination are issued an appointment letter and identity card of an insurance agent. You are appointed as an agent on behalf of the branch. During this time you will be part of the team under your development officer.
What documents are required?
6 passport-size photographs. Photocopy of 10th mark sheet. Address Proof- Copy of Voter ID, Aadhar Card, Driving License, and PAN Card.
This is how the commission is decided-
According to the LIC website, different types of commission are available under endowment and moneyback policies. The commission rates are different in both policies. On endowment policy, the commission is up to 35 percent of the total installment and in moneyback, the commission is up to 25 percent of the total installment. After this, the commission starts decreasing. The agent's commission is decided as per LIC policy.
The agent gets up to 25 percent of the first commission on endowment policies. Apart from this, the agent gets an additional 40 percent commission. If a client of an agent has deposited the first installment of the policy of Rs 10,000, then the agent will get Rs 2500 as commission. Apart from this, Rs 1000 is 40 percent of the commission. In this way, the agent will get a commission of around Rs 3500 on the first installment. The longer the policy, the more the agent will earn.
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