Earn with LIC become an agent and earn 75,000 per month

By Lokmat English Desk | Published: January 25, 2023 03:08 PM2023-01-25T15:08:01+5:302023-01-25T15:08:01+5:30

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The government has opened the coffers of LIC, the country's largest government insurance company. If you have passed 10th and want to start earning part time job from now then working for LIC is a great opportunity to earn money.

LIC agent is a good option for you. The most important thing is that no fixed time is required. You can do this work from the comfort of your client's home. LIC has reduced the educational qualification from 12th pass to 10th pass.

The biggest advantage of working with LIC is that you can work either full time or part time as per your preference. There is no earning limit in this. The hallmark of LIC's business is that the more you work, the more commission you get.

Geeta Kandari from Delhi has been working with LIC for many years. She is earning 70 to 75 thousand rupees per month by working only 4 to 5 hours a day. You can determine your expected income by working with LIC. At the same time, the most important thing is this

The more years you work for LIC, the more you earn. After some time, the old policy becomes the biggest part of your income. Renewal policies increase income well.

According to the company's website, if a customer takes a 20-year policy and pays a premium of Rs 10,000 per year, after 20 years the agent gets Rs 1.35 lakh in the endowment policy and Rs 1.43 lakh in the moneyback policy. Now it's just revenue from one customer

LIC pays up to 25 percent of the policy premium as commission to its agents. This applies only to the first installment of the policy (first year's premium), after which the commission is reduced. To the agent as many times as the premium has been deposited by the policyholder

To become a LIC agent educational qualification should be minimum 10th pass and age 18 years. Contact the nearest LIC office and meet the Development Officer there. The branch manager will conduct an interview and if they find you suitable, you will be assigned to a department/agent for training.

After successfully completing the training, one must pass the pre-recruitment test conducted by the Insurance Regulatory and Development Authority of India (IRDAI). Those who pass the exam are given an insurance agent appointment letter and identity card.

6 passport size photographs. Photocopy of 10th mark sheet. Address Proof – Copy of Voter ID Card, Aadhaar Card, Driving License and PAN Card.

According to LIC's website, commission is available under endowment and moneyback policies in different ways. Both the policies have different rates of commission. 35 per cent of the total premium on endowment policy and 25 per cent of the total premium on moneyback

In addition, an additional commission of 40 percent is paid to the agent. If a client appointed by an agent deposits Rs 10,000 as the first installment of the policy, the agent will get Rs 2,500 as commission. Apart from this Rs 1000 is 40 percent of the commission.