All of us look for a great career option. We all know that insurance sector is one of the fastest growing sector in country. With private players coming up this sector has become really very very interesting. Many of use have heard of names like ICICI Preduntial or TAT AIG or HDFC ERGO, but almost all of us.. yes all of us have heard of LIC. Career in LIC can be very very rewarding. Today let us look at various Careers with LIC and how we can join LIC.
Full form of LIC ?
So we all know and heard of LIC. But what is full form of LIC?
The full form of LIC is – Life Insurance Corporation of India.
History of LIC
On 19 June 1956, the Parliament of India passed the Life Insurance Corporation Act, and on 1 September 1956, the Life Insurance Corporation of India was created with the aim of spreading life insurance far more widely and, in particular, to rural areas with a view to reaching all insurable persons in the country and providing them with adequate financial cover at reasonable cost.
Today the reach of LIC is well known. Almost every one in the country know about LIC. Such is the presence of LIC in our lives that it has become synonymous with Life Insurance in India. Even after opening up this sector for private players, LIC is way ahead in terms of market captilizatiion.
What are Careers In LIC?
LIC enjoys the status of being only a public sector life insurance company that commands over 70 per cent market share. There are lot of private players in market today, but LIC is still the top runner in this space and much ahead of others. India’s government being its sole holder of shares, LIC policies come with sovereign guarantee.
With it’s pan-India network of 113 divisional offices, 2048 branches, and 1381 satellite offices, LIC offers a wonderful opportunity to get associated with it for various job profiles. So let us look at how you can make career in lic.
There are 2 ways with which you can get associated with LIC
- Apply for various job positions at LIC
- Apply as a Agent ( Individual) with LIC
Jobs at LIC
These are full time jpb positions which are advertised by LIC.
LIC being an organization needs personals in various departments for all its operations and management and like any other regular organization these positions are advertised and fulfilled and hence there is a general qualification or experience requirements for these positions.
You can visit the link below to check the various job opportunities with LIC
https://www.licindia.in/Bottom-Links/Careers
Apply as LIC Agent?
LIC agents are insurance company associated persons who encourage and guide customers to purchase a LIC plan according to their needs and requirements. These agents do not need to visit the branch office daily to carry on with their work. Logging in to the LIC Agent site helps them to monitor their job online.
Benefits of becoming an LIC Agent?
A Rewarding Career in LIC – When you join as a LIC agent, you help people achieve their financial goals. This is very important to understand. As there is nothing more satisfying than changing some ones life.
A great the team – LIC is a big company and oldest one in our times. It has great people associated with it and hence you get a team which helps you learn and achieve you goals in you career with LIC
Attractive Remuneration – Apart from having a good remuneration systems in the industry, the range of products and good will LIC has in the market, help you not only to earn more but secure future earnings as well in form of commissions.
Product and services – A very good range of products and services which you can use to sell. The range of product it offers gives you a lot of flexibility.
Wonderful training Support – LIC provides some wold class training to its agents. Helping them achieve their goals in best possible manner.
Flexible working hours – You work as per your schedule. No fix working hours.
LIC Agent Eligibility Criteria
To become a LIC Agent, applicants must qualify the pre-licensing examination of LIC Agents conducted by Insurance Regulatory and Development Authority (IRDA). To participate in the exam, they must meet the requirements as below:
- 10th Pass ( CBSE / ICSE or any recognized State Board)
- 18 years of minimum age
Process to become a LIC Agent
- Visit your nearest branch of LIC and you need to meet the development officer there.
- The officer or the branch manager will do the initial assessment. Will take your interview.
- If the officer finds you fit for the job he/she will send you to the Divisional/Agency Training Centre for the training.
- The training is of 25 hours. It deals with all facets of the life insurance industry.
- Once the training is successfully completed, you need to attend the pre-recruitment examination carried out by Insurance Regulatory and Development Authority (IRDAI)
- You need to score a minimum of 35% in this exam. Once passed you will be appointed as LIC agent with that branch.
- You will be working under the branch manager / development officer and will get on the job training which will further enhance your skills.
- You will also get the Agent ID card from LIC.
Dcouments required to become a LIC Agent
- Passport size photographs ( carry minimum 6 photographs)
- Xth Marksheet / passing certificate
- Address proof ( Adhar card / Driving license / PAN Card / Voter ID Card etc)
Apply for LIC Agent online
There is a way that you can also apply online. Please follow below method.
Apply for LIC Agent online – Agent Career in LIC – Option 1
- visit the official LIC website https://www.licindia.in/
- click on Join our team -> Become an agent (individual)
- Click on Apply Now link ( on right hand side)
- A form will come. Fill that form and submit it.
Look the screen shots below:
Fill this form below and submit
Once you submit the form above, it will automatically get routed to the branch office and they will call you for interview after initial screening of the form.
Apply for LIC Agent online – Agent Career In Lic – Option 2
On the main page of LIC itself there is another link from which you can go to online registration page. Have a look at the link below.
Once you click on above you get below screen and you need to choose appropriate option on this page.
Direct link is : https://agencycareer.licindia.in/agt_req/
But visit LIC main page and follow the link.
Salary of an LIC Agent
As per the LIC website – “LIC official website says, “We offer one of the best remuneration systems in the industry that not only takes care of your current earnings, but also guarantees an earning for the future. What’s more, you can set your own income targets with a potential to earn as much as you want for the rest of your life.”
Hence the earning potential as an LIC agent is huge and depends on the hard work you put it.
You should remember that most of the insurance companies work on commission based model.
LIC Agent Portal – What is it and how to reguster.
LIC Agent portal allows the LIC Agents to do all their work online. This means that they do not need to be in office. All they need is an internet connect , a computer or a mobile device. Below are the steps to register on LIC Agent Portal.
How to register on LIC Agent Portal
When you join LIC you are given a agent code. This is what you use to login to LIC Agent Portal. The link to Agent Portal is on the main page. You can look at the screen shot below. You need to click on that link and you will automatically be taken to Agent Portal Web page.
Visit the official LIC website https://www.licindia.in/
Benefits of Using Agent Portal
So what are the benefits of using agent portal. Below are some benefits which LIC agents have if they use agent portal
- Check for all the insurance policies. Will be possible to check all the details which are available only to the agents
- Check the First Unpaid Premiums (FUP) Dates of their customers
- Also get the list of policies which are lapsed and contact their customers for the same
- Check the maturity of various policy which they have sold to their customers
- If their customers have taken any loan on the policy, it is also visibile there.
Mobile based access for agents – LIC Agent App
There is a LIC agent app as well which you can download. This app is available on android and iOS platforms. Let us look at some of the key features of this app
- OTP-based authentication so that the access is secure
- Offers a benefit of Multi-login platform
- Provide alerts on policies
- Agents can register complaints, or track complaints
- Maintain a diary online for customer visits etc
- Information on key policy renewals
Conclusion
Friends career in LIC can be a very fulfilling option. Jobs in LIC provide a lot of flexibility. Has a great learning potential. Becoming a LIC Agent also means doing something which adds value to some ones life. The aim of LIC has been to give insurance cover at affordable cost which is very much needed in small cities and villages and by understanding these polices well you can help people in a big way.
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Friends I hope you liked the information provided. If you have any questions regarding career in LIC or Jobs in LIC, please post you comments in comment box below and we will try to get an answer to it.
Good luck!
