How much commission does a LIC agent get?
How much commission does a LIC agent get?
There isn’t any fix salary from the LIC for the agents. Though, Agents earn the commission for the policies they sale. LIC offers 25% to 35% commission on the policy premium for the first year, then 7.5% for 2nd & 3rd Year + 5% till the policy maturity.
Who is the richest LIC agent?
Lachman Das Mittal is among 828 individuals with wealth of over Rs. 1,000 crore: IIFL Wealth Hurun India Rich List 2020.
What are the benefits of LIC agents?
Life Insurance Agency is an Unique career
- First Commission on sales. Under standard tables and terms you are paid 1st year’s commission of 25% of the first year’s premium paid by the policy holders.
- Bonus Commission.
- Retirement Benefit.
- Hereditary Commission.
- Guaranteed Income.
- Increasing Income.
Who is the No 1 LIC agent in India?
KHEM SINGH
The top 50 Agents on Singular Premium
Rank | Agent Code | Agent Name |
---|---|---|
1 | 10084310 | KHEM SINGH |
2 | 0049793P | RAJESH CHHEDA |
3 | 0063210G | SH. RAJENDRA G. SHAH |
4 | 1268997 | B.V.PAREKH. |
Can I change LIC agent?
There is no need and no provision to change your LIC agent, as there is no contract between you and an LIC agent. As far as a policyholder is concerned, the contract is with insurance company. The agent is just a facilitator.
Do LIC agents pay first premium?
Generally, the commissions start from around 10% to 15% of your premium. This is for the first premium. So if you are paying a premium of Rs 40,000, your agent will pocket Rs 16,000.
Is being LIC agent a good career?
Yes, becoming an LIC agent is a good career. Life Insurance Company offers best remuneration systems which takes care of your current earnings and also guarantees an earning for the future. By becoming LIC agent, you can set your own income targets with a potential to earn as much as you want for the rest of your life.
Is LIC a govt job?
Ans. Yes, LIC recruitment are classified under government job.
Is it good to be LIC agent?
Can I change my LIC agent?
How do LIC agents earn?
LIC agents’ earning depends on the commission which is paid by LIC, more premium paid by the people implies more will be the agent’s commission. Top performers in LIC are earning nearly 3 to 4 Crores per year. New Delhi: Life Insurance Corporation is India’s only public sector life insurance company.
Who is the highest paid insurance agent in India?
But Parekh managed to find work under a development officer at 18 and has never had to look back since then. He sells around 1,000 policies a year, the worth of a policy being Rs 2 lakh on an average, and manages to generate a premium of Rs 200 crore for the corporation — the highest generated by any agent in India.