LIC Agent Commission: You must be noticing that nowadays, many people have started LIC agent job. LIC Agent Commission is nothing, but it is a commission that an LIC Insurance Agent gets from the corporation. The first Lic agent commission may be dependent on Term of the policy and also the type of the Policy. Life Insurance Agency is a unique job for good career. Because the harder you work, the more commission you get. Moreover, it varies from policy to policy, and also depends on the term of the policy.
LIC agents are official insurance advisors will explain you about the LIC Policy and in return, they earn the commission. So, here in this article, we will tell you about the Agent Commission of LIC and the benefits. So, go through this article to get the complete information on this topic.
Details of the LIC Agent Commission
Below are the particulars of the LIC Agent Commission Chart. You can know the various commissions that are present in it.
- First Commission: It will depend on the term of the policy and also to the type the system belongs.
- First Year Commission: It is nothing but the commission that is payable for the first year premium.
- Bonus Commission: It will be subjected to the conditions of the policy.
- Renewal Commission: Similarly, it also depends on the term and type of the policy.
Types of Agent Commission in LIC
The maximum amount of an LIC Agent Commission is 25% in endowment plans. Apart from that, it acquires 15% in the Money back Plans. We have given the complete details of Agent Commission in LIC below.
2. Money Back
|Years||1st Type||2nd Type|
|Bonus Comm||40% of Comm||40% of Comm|
|4th Year Onwards||5%||6%|
Eligibility Details of Life Insurance Corporation of India Agent
To become an LIC agent, the candidate should have the following qualifications to a part of the Agent Commission in LIC.
Education Qualification: Any graduate with HSC pass will be considered for exceptional candidates.
- The applicant should be a desire for learning and earn.
- He/She must be self-motivated.
- They should have the willingness to build relationships.
- Moreover, they should have the ability to accept rejections and learn from them.
- Passport size photographs.
- Two copies of SSC and HSC certificates.
- Residence proof of two copies.
- Any Identification proof such as PAN Card.