Question: Can I Buy LIC Without Agent?

Can I change the LIC agent?

No, you cannot change your LIC agent.

Once the plan is sold by the agent to the customer, you are only a customer for the LIC of India and the agent has no liability to you.

The only exception being that if a plan is sold to you with improper information, you can withdraw your insurance policy within 15 days..

How do LIC agents make money?

LIC agent can earn unlimited since there is no specified salary. They get a commission from the policy they sell and they can earn more than their capacity. … 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.

Do LIC agents get pension?

The special pension plan for its agents who earn commissions of more than 1 lakh per year may benefit about five lakh-odd agents who could be the main target of private companies, many of whom are struggling to profit. … “LIC has about 14 lakh agents of which about 30-40% earn commissions of more than a lakh.

What is the commission of LIC agent?

A agent gets 25% commission on LIC Jeevan Labh policy. This commission is for the first premium and then 2nd and 3rd year the commission is 7.5% and for 4th year onward till whenever the policy is in force the agents gets 5% commissions on premiums.

Is LIC agent a good career?

2] Attractive Remuneration: LIC offers 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. As 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 Pmvvy safe?

If you are a risk averse investor looking for a long-term regular income plan, PMVVY should be your first choice. Next comes SCSS and POMIS, followed by bank FDs. However, if you can take some risk, invest only a portion of your savings in PMVVY and rest can be diversified among SCSS, POMIS or FDs across banks.

Do LIC agents pay first premium?

Generally, the commissions start from around 10% to 15% of your premium. This is for the first premium. … The next three years, the agent will get around 7% as commission and the rest of the term, 5%. So the higher the premium you pay, the more the agent benefits.

What is the qualification for LIC agent?

To be a LIC agent, your educational qualification should be at least 10th pass and the age should be minimum 18 years. Earlier, it was necessary to have 12th pass certificate to become an agent. – Contact your nearest LIC branch office and meet the development officer there.

What is the salary of LIC assistant?

Rs. 14435The basic pay of a LIC Assistant (Clerk) is Rs. 14435/- per month in the scale of Rs. 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195 (2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080 and other admissible allowances as per rules.

Is LIC a govt job?

LIC(Life Insurance Corporation of India) conducts an exam namely LIC ADO to fill in the vacant posts for ADO in their offices. It is a government job with a healthy salary package of nearly Rs 45,000/- per month. … LIC ADO is a management cum marketing job.

How can I pass IRDA exam?

Passing 35% =18 (even you score 17 marks ,One mark will be given as grace )Strategy To Pass this IC 38 LIC agent Exam.Obtain Minimum Marks.First Solve 10 question minimum——————10.Tick Ans “C” option remaining 40 Question———–10 (Probability)Total Obtain Marks=======20(Passed)

Can a lawyer become LIC agent?

under law an Advocate cannot to do a work other than an Advocate. You may pray for suspension of your license of Advocate and then you may work as LIC Agent. … no advocate no doctor or no engineer no teacher can not become any LIC agent .

Is SCSS or Pmvvy better?

Currently, for the quarter ending December 2020, the rate of interest on SCSS is 7.4 per cent per annum. On the interest rate front, SCSS scores higher as it carries a higher rate of interest than PMVVY.

How can I buy LIC Pmvvy online?

How Should I Apply For PMVVY?Click on ‘Products’ followed by ‘Pension plans’.Click on ‘Pradhan Mantri Vaya Vandana Yojana’. … Submit the form with the required details and click on ‘Get Access ID’.You will get an ID on your mobile or email address. … Now, select the plan as per your needs and fill the form and submit.More items…•

What is the minimum target for LIC agent?

An LIC agent is required to sell minimum 12 policies per year, and if he fails to achieve this, he has an option to complete the target in another one year. But in the third year, if he fails to get 36 policies, his registration gets cancelled.

Can private employee become LIC agent?

Yes it is possible to be an agent in any General insurance or Life insurance company in India. But the most important condition is the applicant for agency must not be an employee/ the relative of any employee working in Life insurance companies or General insurance companies.

What is LIC agent group insurance?

This is the first time an insurance company is launching a scheme to provide insurance at lower premiums to its agents, under the label ‘one-year renewable group term assurance’. Confirmed agents are those who have completed a year of service at LIC. … LIC has a total agent base of around 11 lakh countrywide.

What are the benefits of becoming LIC agent?

3 LIC Agents BenefitsZonal Manager’s Club.Chairman’s Club.Corporate Club.Interest-free vehicle loan.Low-interest home loan.Office maintenance allowance and financial benefits.Furniture allowance.Advance or bonus for festival celebrations.More items…•