You have more control over how much and when you work because it is a job where you choose your own hours. Additionally, you gain a lot of financial and insurance knowledge that will benefit your personal life. It’s a means of generating income and improving people’s lives at the same time. However, in this blog, we will see in detail how to become lic agent in 2023:
Who is the LIC agent?
A person who works for LIC and assists people to buy LIC policies is called a LIC agent. And their main role is to explain the LIC’s different plans to people and make them buy an insurance policy by helping them. Once the customer buys the insurance policy, the LIC agent gets a good commission.
|
Exam Name |
LIC Agent Exam |
|
Exam conducting body |
Life Insurance Corporation of India (LIC) |
|
Exam mode |
Online (Computer Based Test) |
|
Total duration |
120 minutes |
|
Passing marks |
50% |
|
Exam language |
English and Hindi |
LIC Agent: Exam Pattern
The exam pattern comprises three stages:
Phase I – Prelims Exam
Phase 2 – Main Exam
Phase 3 – Interview
LIC Agent Exam: Syllabus
There are 50 total marks in the LIC Agent or IRDA exam, and incorrect answers do not result in a deduction of marks. Moreover, during the training period that applicants must finish in order to be eligible for this exam, they are provided with the fundamental understanding of life insurance and financial products. These are the primary categories of questions that usually appear in the LIC agent exam pattern:
Fill in the Blanks
- MCQs
- Yes/No & Right/Wrong
Additionally, the following topics makes up the LIC Agent exam syllabus:
- Insurance
- Numerical Ability in discount, loan calculations and related percentages.
- Regulation, Instruments & General Application
- Other than insurance questions, the syllabus comprises English Language, Quants, Reasoning, General Awareness, etc.
How to Become LIC Agent: Online Procedure
The LIC agent online registration process is simple and also an easy process. The lic agent recruitment follows several steps. Below will look for the steps on how to become a LIC agent:
1. LIC agent registration:
LIC agent registration is the primary step to becoming a LIC agent. Online and offline are the two ways to register yourself as a LIC agent.
- Offline Registration: To register offline it is vital to visit the LIC branch office. Get the registration form from the office and fill in the basic details such as name, address, email id, photos, qualification, etc. mandatory in the form.
- Online Registration: You can apply through the official LIC site just by entering your personal details. Online lic India registration is simple and easy when compared to offline.
You need to enroll in the pre-exam training course of 25 hours duration once you complete the registration process. You can take the training online or offline based on your convenience. You will learn about the life insurance business and its principles. Also the rules and regulations & about governing body of the insurance industry which is the Insurance Regulatory and Development Authority of India (IRDAI).
3. IRDA Online exam:
After successful of Completion of training, you need to give online examination conducted by the insurance regulatory and development authority (IRDA).
4. Get your LIC Agent License!
After successful Completion of the examination you will be awarded an Appointment Letter by the IRDA to work as an insurance agent. You will be appointed as an LIC Agent
Role and Responsibility of LIC Agent
- Selling Life Insurance Policies
- Meeting Sales Targets
- Maintaining Accurate Records
- Building and Managing Client Relationships
- Providing Excellent Customer Service
- Adhering to Ethical Standards
Skills Needed For LIC Agent
- Effective Communication Skills
- Customer Service-Oriented Attitude
- Time Management and Self-Motivation
- Passion and Determination
How To Become LIC Agent: Eligibility
To join lic agent, you must pass the pre-licensing examination given by the Insurance Regulatory and Development Authority of India (IRDA). To take the test, you must fulfill the conditions outlined below:
- 10th pass from a recognized board
- Minimum age should be 18 years
- Candidates must not have a criminal background
- Must be Indian citizens
Further, if any queries are related to the LIC agent it is preferable to use lic customer care login to get clarity.
LIC Agent: Exam Fees
Candidates on the NSEIT website must pay the IRDA exam fees. After entering their unique registration number (URN), candidates will be directed to a website where they can use a credit card, debit card, or net banking account to pay the required amount. According to bank policies, transaction fees and service taxes will be charged when fees are paid. The next day, you will receive the exam schedule if you have successfully paid the IRDA exam fee.
LIC Agent Preparation Process
Preparing for LIC agent exams requires a systematic and thorough approach. Here are steps to help candidates excel in the exams:
- Understand the Syllabus: Start by getting familiar with the syllabus for the exam. It helps in sorting through the material and focusing on the most important topics.
- Enroll in Pre-Licensing Courses: Enroll in pre-licensing classes offered by a reputable organization. These classes deal with key ideas and provide structured guidance.
- Use Official Study Material: Make use of the official study guides that LIC and IRDAI have given. The material provided is detailed and follows the format of the exam.
- Practice Mock Tests: Take mock tests frequently to evaluate your comprehension of the material and improve your time management abilities in preparation for the online exam.
- Stay Updated: Stay up to date on changes to rules, policy changes, and improvements in the insurance sector. This information is essential for both the training and interview phases.
- Develop Communication Skills: A major part of the selection process is the interview, so work on improving your interpersonal and communication abilities.
- Seek Guidance: Try to get advice from mentors or LIC agents with experience, as they may provide valuable perspectives on every aspect of the job.
- Revise Regularly: To maintain the information, the revision must occur regularly. Plan your revisions so that you can go over important ideas frequently.
Documents Required to Apply For LIC Agent Requirement
- Photographs of 3 passport-size colored.
- Your educational qualification documents photocopy.
- Copy of your Pan Card
- 1 Cancelled Cheque
- Local Address Proof: Aadhar Card, DL, Passport, voter ID, Rent Agreement, etc.
After receiving your agency form and supporting papers successfully, the LIC Branch Manager will conduct a formal interview before issuing you an appointment letter and ID card for the lic login agent.
LIC Agent Commission Rates For 1st Year:
- Money Back plan: 20%
- New Endowment plan: 25%
- Term Plan: 25%
- Pension Plan: 2%
- Child Plans: 25%
- Health Insurance Plan: 25%
Benefits of LIC Agents?
1. Flexible Work Schedule:
You may balance your career and family lives with a flexible work schedule as an agent for the LIC. The benefits of lic agents will add a good work schedule.
2. Lucrative Earnings:
With the opportunity to earn commissions on each policy sold and renewal premiums, LIC Agents have the potential to generate significant revenue.
3. Unlimited Earning Potential:
You cannot set a salary limit for yourself as a LIC agent. You can earn more money by selling more insurance plans.
4. Job Security:
With the booming life insurance market, there is a significant need for LIC Agents. This translates into stability and employment security.
5. Professional Development:
You may have the chance to advance your professional abilities in areas like sales and marketing, communication, and customer service by working as an LIC Agent.
6. Helping Others :
It may be a very satisfying experience to assist people in protecting their families and assets through life insurance coverage as an LIC agent.
Benefits of LIC Agent App
LIC provides its agents with a mobile app to manage the sale of different life insurance plans. This lic agent portal app is beneficial for both iOS and Android users. Users can get this app from the respective app stores. The main characteristics of the LIC Agent App are listed below:
- OTP-based authentication for agents
- Multi-login platforms for agents
- Policy alerts and greetings
- Register and track complaints
- Agent’s diary and customer appointments
- Key renewals
Final Thoughts:
You will be a true business owner as an Agent. You are free to work for yourself, select your clients, and generate your income. All of this without any prior financial commitment. The above listed are the clear points you can consider on how to become lic agent in 2023.
FAQ’s:
What is the time to become LIC agent?
It takes just two weeks to complete all the process to become LIC agent.
Who can join to be LIC agent?
10th pass candidates are eligible for LIC agent
Why people choose to become LIC agent?
People choose to become LIC agent because of the convenience, benefits and commission.