How to Become an LIC Agent? (2023): A Complete Guide

Life Insurance Corporation of India, also referred to as LIC India or LIC is the country’s main insurer. By acting independently like independent contractors, LIC agents help LIC attract new customers. Many people wish to work as LIC agents, including students, entrepreneurs, homemakers, retirees, and even those who have full-time jobs. In this article, we discuss how to become an LIC agent as well as the qualifications and abilities needed for the job.

How To Become An LIC Agent?

While figuring out how to become a LIC agent, follow these steps:

  • Make the appropriate introductions. Contact the Development Officer at the LIC branch that is the closest to your city. On the official LIC website, you can also fill out the online application form to “Want to be a LIC agent” and wait for the Development Officer to get in touch with you.
  • take part in a job interview. The branch Manager’s interview should be cleared.
  • finish your training. Complete the 25-hour training at the Divisional or Agency Training Center required by the Insurance Regulatory and Development Authority of India (IRDAI).
  • passing the test. Pass the IRDAI Pre-Recruitment Examination (IC38) with a minimum score of 35% or at least 18 right answers out of a possible 50.
  • Get a license. To begin working, get the appointment letter and agent license from LIC.
  • thorough reporting. Inform the development officer of your advancements, successes, and difficulties.
  • Once you start working as an agent, you may manage your tasks and objectives with ease by utilizing the LIC Agent App or the Agent Portal on the LIC website. Please be aware that there are small fees associated with enrollment, training, and exams that must be paid. Your whole outlay, which includes all fees and the purchase of textbooks, is often in the range of $1000.

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What Are The Roles And Responsibilities Of An LIC Agent?

For many consumers who purchase an insurance policy with LIC, the agent serves as their initial point of contact. They advertise the advantages of insurance to people, families, and companies who want to guarantee their protection of life, health, and property in the future. LIC agents do more than just market and sell insurance; they also keep records, assist policyholders with claims, and counsel clients on how to reduce risk.

LIC agents may specialize in a certain type of policy or offer their services for various forms of insurance, depending on their area of specialization. To maintain compliance, they also serve as an interface between the insurance firm and its customers. As a result of their foundational training in the insurance sector, they are also qualified to work as agents for other insurance firms.

Benefits Of Becoming An LIC Agent

Because of the advantages of the job, many people would think that being a LIC agent is a desirable career. As follows:

Flexibility: The flexibility and independence of employment are two of the main benefits of becoming a LIC agent. As opposed to individuals who hold a typical full-time career, those who work as agents have more control over their work schedules. LIC agents are free to work on their own schedules as long as they accomplish their objectives.

Training and development: You can become an expert in insurance sales with the support of the foundational training and professional development possibilities offered by LIC. Through the training program, individuals without prior experience in the insurance or finance industries can quickly acquire the necessary skills and knowledge. All applicants can get the course for a little fee.

Additional income: Becoming an agent is an excellent alternative if you’re trying to supplement your current income from a profession or business or just want to do something different with your leisure time. If you choose, you can work as a agent full-time.

Increased financial literacy: Working as a agent can improve your financial literacy and awareness while also enhancing your income and professional development chances. You can improve your financial and investing decisions by using the knowledge you acquire while working as a LIC agent. As a result, becoming a LIC agent can enhance your life in numerous ways.

Attractive benefits: Top agents can benefit from LIC’s generous incentives and earn significant commissions. Depending on an agent’s performance, there are many “clubs” available. Commissions, allowances, and other benefits are higher for members of higher clubs. Agents for LIC can also get lower interest rate loans and credit approvals.

Field and sales support: LIC provides its field agents with substantial technical, marketing, and infrastructure support. Agents have access to well-designed assets, collateral, and tools. As the performance is managed through a dedicated agent portal and app, commissions and perks are completely transparent.

Low entry barriers: The obstacles to being a LIC agent are very minor. You can apply to become a LIC agent if you’ve passed your secondary school’s 10th-grade examination and are at least 18 years old. People from various socioeconomic situations can apply with ease, and the overall costs for registration, tests, and training are frequently reasonable.

What Are The Skills Of An LIC Agent?

Consider the following skills to become a successful LIC agent:

Communication skills: According to the LIC India website, all of their agents must be master communicators. Effective communicators and persuaders can effectively market policies, provide satisfied customer service, and engage clients. Keep in mind that continuous practice and training might help you enhance your communication abilities.

Time management and self-motivation: Being an effective time manager is essential for LIC agents. Maintaining your motivation and commitment is crucial because you do not have a manager telling you what to do and how to accomplish it. Similarly, if you are doing many jobs at once, make sure to give each position enough time to complete its tasks and act properly.

Passion and ambition: As agents, disciplined, devoted, and ambitious people typically do effectively. Aim for success if you want to be a successful LIC agent. Own your goals, don’t let rejection get you down, and keep your development officer informed of your advancement.

Customer service-oriented mindset: Working as a agent might greatly benefit from having a customer-focused approach. Besides responding to inquiries regarding insurance plans and goods, providing superior customer service is made possible by a problem-solving mindset. Keep in mind that LIC agents serve as a liaison between the client and the business.

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