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Career in lic of india as an insurance agent

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LIC AGENCY
for Life Long Income to YOU & Your Family
WHY
LIC AGENCY ?
WHAT ARE THE USES ??
•No Bossism
–You are the BOSS
to yourself
–You need not work under
anybody. You are a free bird.
• No Capital required
•Requirements are:
–A smile
–A few good words
–A little physical work &
–A strong thrust for earning
•Self-Employment
–No retirement.
–No Golden shake hand.
–Life long work.
– High net worth people always like
to be self-employed
• Highly Potential:
–Population growth of India
is 2 crores per annum.
–We produce one AUSTRALIA
every year.
Ad

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Career in lic of india as an insurance agent

  • 1. LIC AGENCY for Life Long Income to YOU & Your Family
  • 2. WHY LIC AGENCY ? WHAT ARE THE USES ??
  • 3. •No Bossism –You are the BOSS to yourself –You need not work under anybody. You are a free bird.
  • 4. • No Capital required •Requirements are: –A smile –A few good words –A little physical work & –A strong thrust for earning
  • 5. •Self-Employment –No retirement. –No Golden shake hand. –Life long work. – High net worth people always like to be self-employed
  • 6. • Highly Potential: –Population growth of India is 2 crores per annum. –We produce one AUSTRALIA every year.
  • 7. In India only 24% of Insurable Population is insured till date. Remaining 76% of Insurable population is yet to be insured. There is a huge untapped market to explore. 24% 76% Insurable Population Insured Not Insured
  • 8. • Increasing Population, • Increasing Insurance needs, • Continuous launching of New Life Insurance policies have been increasing Life Insurance SALES every year in India.
  • 9. • Work according to your own TIMINGS –Great opportunity to manage your free time –Part time agents are most successful agents
  • 10. • Unlimited INCOME –You can decide your own income –Regular Cash Flow
  • 12. LIC’s Insurance Agency is the Highest Paid Profession in the World……
  • 13. Commission Rates The Agent will get the following Commission Rates:  25% of 1st year premium with 10% Bonus Commission.  7.5% of 2nd & 3rd year premium.  5% from 4th year to end of the policy term. Every time a Policyholder pays his Installment Premium, the Agent receives his Commission.
  • 15. Magic of Renewal Commissions Total Premium Collection - 2,75,00,000 Total Renewal commission@5% will be 13,75,000 P.A. Recurring Consistent Income 1,14,583 P.M. SOURCE Business standard
  • 16. LIC Agency is a Social Service & Nation building activity LIC has invested Rs. 18,37,000 Crores In our Nation building activities from 1956 to 2015.
  • 17. - If LIC agent works for 5 years, - As long as his policyholders pay renewal premiums, - He…. Later his Family Members will receive the renewal commission. (ERC & HRC) Own Pension:
  • 18. •Social Status –LIC agency gives a good recognition in the society. –Adding “LIC” to your Vehicle or to your Visiting Card will give a status
  • 19. • No boundaries to do business Any where in our •Country, •World, •Universe.
  • 20. • Professionalism  Like any other –Financial, –Legal, –Accountancy, –Health consultants, • LIC agent is an Insurance consultant
  • 21. • Recognition – – B.M. club membership – D.M. club membership – Z.M. club membership – C.M. club membership – M.D.R.T. – Corporate club membership
  • 22. • Benefits to Club Members – – Car or Motorcycle – Housing Loan – Office allowance – Computer – Furniture – Marriage advance – Flight journey – & so many benefits.
  • 23. • Bright Career •Agent  •Dev. Officer  •Branch Manager  •S.D.M.  •Zonal Manager  •Chairman
  • 24. • Regular Training to meet the changes in the market –Branch level Training –Specialised Training at Sales Training Centers
  • 25. • Inner talents will be recognised and developed –Specialisation in selling HFL, PF business –Celebrity Marketing –Child & Female Insurance –Income Tax savings
  • 26. • Public Relations can be developed –Many of our LIC Agents have become Local Leaders, MLAs, MPs
  • 27. •Excellent Job satisfaction –When the dependent of a customer receives claim money from LIC
  • 28. • 100% white money –All the Commission is taxable income. –Agents submit I.T. returns every year –Income Tax will be deducted at source.
  • 29. JOB profile of LIC agent :- • Out Going: Loving to go out & meet People. • Plan Presentation: Suggesting suitable PLANS that fulfill the NEEDS of the Prospect. • Closing the Sale: Convincing the Prospect that you have suggested the best possible solution for his Need & ask for the Order. • After Sales Service: Provide efficient after sales service and claims settlement.
  • 30. • NOT necessary:- • LIC Agent need not be a highly talkative. • LIC Agent need not be a highly qualified. • LIC Agent need not be a highly intelligent. • LIC Agent need not have rich back ground. • LIC Agent need not have cast back ground.
  • 31. • Any Indian….  who • completed 18 years age… • completed 10th Class (for Rural area candidates) 12th Class for Urban Candidates) can take “LIC AGENCY”
  • 32. • SUCCESS formula for LIC Agents:- • Prepare a List of your Friends & Relatives. The list is called “Prospective List.” • It is good if you prepare very big List. • Inform all the persons in that List, as You have taken LIC Agency & You will meet them shortly. • If you could get policies from 2 out of 10 persons in the list…, You will become a Top Agent. • No body will give a policy as soon as you ask them. Somebody may take policy immediately, somebody after a month or year or later.
  • 33. • SUCCESS formula for LIC Agents:- • Daily... meet 4 persons, who are well known to you, explain them LIC policies, & ask them to take a policy. • Daily… get acquainted with 4 new persons. Collect references (address) from your Friends, Relatives & Customers.
  • 34. Ask these people…. Ritu Nanda Dipti Bhatnagar Abhishek Bachhan Ragini Yadav
  • 35. Only 20% of total agency force are working in a Professional Capacity. These 20% agents bring for more than 80% of total Life Insurance Business. Be “One” among the “Professionals” and earn your fortune.
  • 36. Employee LIC Agent Salary Commission Pension (contributory) Renewal + Pension Gratuity Gratuity L. T. C. L. T. C. 2 Wheeler Loan 4 Wheeler (Car) Advance Office Allowance × Office Allowance Housing Loan Housing Loan Festival Advance Festival Advance Mediclaim Mediclaim Telephone Facility Telephone Facility 10am-6pm OFFICE JOB OWN BOSS COMPARISION….
  • 37. Profession Degree Investment Time Workplace Doctor C.A. Lawyer Engineer LIC Agent X X X X √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ COMPARISION….
  • 38. Time : Money √ X - Retired & Unemployed X √ - Professionals X X - Salaried People √ √ - Agents
  • 39. Documents required:-- 4 Passport size color photographs Educational Proof :- 1. SSC / 10th Class Mark sheet / Certificate 2. HSC Certificate (for candidates from Town ) Age Proof :- (Any One) 1. S.S.C. Marks Sheet 2. Any T.C. 3. Passport Address Proof :- (Any One) 1. Aadhar Card 2. Passport 3. Voter ID 4. Ration Card 5. Driving License 6. Bank Statement PAN card & very minor fees later… BANK a/c
  • 40. Join as an & Get a future
  • 41. • If “Dhana Lakshmi” knocks at your door, do you welcome her or not ? • She/Agency will give you: – Name – Fame – Money – Satisfaction – Confidence
  • 42. Shashikant Shardul, BE (Mech), MA (Eng), DSMM Development Officer Life Insurance Corporation Of India Branch: Malegaon, Dist-Nashik Mobile: 9970269135, 9423970957 email: s.r.shardul@gmail.com Web: http:www.joinlicnashik.com