• [email protected]
  • +91-9910887090
  • Login
  • List Your Company
logo
  • About
  • Course
  • Service
  • Franchise
  • Companies
  • Contact Us
  • Blogs
  Home   : :   How to Become LIC Agent: Education, Skills and Exam 
How to Become LIC Agent: Education, Skills and Exam 

How to Become LIC Agent: Education, Skills and Exam 

Written By Vikas Singh 20-11-2023

We have seen lots of agents in our lives for various work purposes including a LIC agent. They are the person or individuals who advice clients or potential customers to get life insurance plans to cover their family from unexpected events such as death, accident, or retirement. 

  • What Is the LIC Agent Salary Structure?
  • What Benefits LIC Agent Get? 
  • What is LIC Agent Registration Process? 
  • Pros & cons of LIC Agent
  • LIC Agent Commission 
  • LIC Agent Commission Chart 
  • LIC Agent Gratuity Calculation Formula 

In this wrok, you require quite a lot of communication and convincing skills. The work of such agents is to sell as many insurances to people as possible and in return, they get some commission from the company they are offering. It surely is not an easy job in the current life insurance market. Further in this article, we will talk about how one can become an LIC agent and their salary structure. 

What Is the LIC Agent Salary Structure?

Whenever you plan to get yourself in a corporate position you always check out the salary structure of that particular position. Now, most salary structure in the corporate world depends on the experience and skills you have. The more and better skills you posses the better salary structure you get from the company you are willing to work for. 

Similarly, if you are willing to become an LIC agent in India then the base salary is quite low but, as you become experienced in the field it starts to rise. Moreover, LIC agent salary in India ranges between Rs 0.2 lakhs to Rs 5.5 lakhs with an average salary of Rs 2.0 lakhs. 

What Benefits LIC Agent Get? 

LIC agents get amazing benefits and they surely attract more candidates to become one. Here are some of the benefits that a LIC agent gets:-

  • Amazing commission rate- LIC agents get attractive commission rates on the sale of policies. Every sale they make at least gives them a commission of 35% of the premium value. 
  • Interest-free loan- LIC agents get interest-free loans from Life Insurance Corporation of India to fulfil their financial requirements. 
  • Great earning potential- If you have good communication skills then you can surely use that to earn good profit by selling policies to potential customers. 
  • Retirement provisions- They get a commission when it comes to the lifetime pension. 

What is LIC Agent Registration Process? 

Here is the registration process to become an LIC agent:-

  • You need to visit the official LIC website 
  • After you visit the website you need to click on the “Apply now and register” option
  • After submitting your application, you need to submit documents 
  • The third step includes to pay basic fees 
  • After you are done with all the steps officials will contact for further details 

Pros & cons of LIC Agent

Pros

  • Have a Flexibile Work Style
  • High Earning Potential
  • Positive Impact
  • Professional Growth
  • Job Security

Cons

  • Commission-Based Income
  • No Guarantees to be a successfull
  • Challenging Work
  • High Competition
  • Regulatory Requirements

LIC Agent Commission 

An LIC Agent most gets 35% commission on the first year premium, which includes money back plan, new endowment plan, term plan, pension plan, child plan, and health insurance plan. 

LIC Agent Commission Chart 

1st year 2nd Year 3rd Year 4th year 5th year 6th year 7th year 8th Year 9th Year 10th year 
New Commission 35%2100002541003074613720284501545446866590707974759649441167583
Renewal commission @7.5%4500054450658857972096461116718141229170887206774
4500054450658857972096461116718141229170887
30000363004392353147643087781294153
300003630043923531476430877812
3000036300439235314764308
30000363004392353147
300003630043923
3000036300
30000
Total Income2100002991004069115223626620588310911035620128310015825511944886
Monthly Income 17500249253390943530551726925886302106925131879162074
Income per hour 58383111301451183923092877356443965402

LIC Agent Gratuity Calculation Formula 

The formula is 15 x your last drawn salary x the working tenure /30. 

Disclaimer: The information provided in this post is for general informational purposes only and does not constitute professional advice. Please consult a qualified professional before making any decisions based on this content.

Vikas Singh

Vikas Singh

He is New Delhi-based Business Analyst and Marketing Specialist, brings 6+ years of experience in driving business growth. He has authored 100+ insightful articles on new business ideas and franchise opportunities, empowering entrepreneurs with actionable strategies.

Quick Connect

Latest Blogs

  • 7 Best Clothing Franchises in India 2025: Costs & Trends May 21, 2025
  • Amitabh Bachchan’s Brand Endorsements 2025: From Everest to Durex May 18, 2025
  • Blinkit Franchise Overview: How to Start Your Grocery Empire in India in 2025 May 16, 2025
  • Frullato Franchise in India 2025: Costs, Profits & How to Join Nagpur’s Favorite Shake Brand May 16, 2025
  • Virtual Tour Business: India’s Untapped Startup Goldmine May 14, 2025
  • EV Lithium Battery Manufacturing: The 2025 Business Idea to Power India’s Future May 13, 2025
  • Epoxy Flooring: The Hidden 2025 Business Idea That Could Make You a Millionaire! May 12, 2025
  • Mother Dairy Franchise vs. Amul Franchise: Which Dairy Giant Wins for Startups in 2025? April 3, 2025
  • MBA Chai Wala Success Story: Prafull Billore’s Journey to Building a Tea Empire March 26, 2025
  • MBA Chai Wala Net Worth 2025: Success Story, Franchise Cost, and More March 26, 2025

Business Opportunities All

Franchise Opportunities
  • ATM Franchise
  • Automobile Franchise
  • Beverages Franchise
  • Burger Franchise
  • Clothing Franchise
  • Courier Franchise
  • Food Franchise
  • Ice Cream Franchise
  • Jewellery Franchise
  • Laundry Franchise
  • Pharma Franchise
  • Salon Franchise
  • Sports Franchise
  • Super Market Franchise
  • Tea Franchise
Business & Entrepreneurship
  • Business
  • Business Ideas for Women
  • Business Model
  • Business Plan
  • Business Tools
  • Franchisee
  • Investments
  • Startup
  • Success Story
Industry-Specific Businesses
  • Cake & Bakery
  • Education
  • Electronics
  • Home Care Product
  • Modular Kitchen Manufacturer
Finance & Markets
  • Loan Offer
  • Mutual Fund
  • Share Market
Marketing & Digital
  • Digital Marketing
  • Ecommerce
  • Marketing Strategy
  • Youtube Ideas
News & Insights
  • Case Study
  • Shark Tank India
  • Top 10 Best
  • Uncategorized
 

About Our Company

Startup Authority is a leading SME service provider! SA is dedicated to provide the complete solution to new startups.

Talk To Our Support

+91-9910887090

Quick Links

    • About
    • Companies
    • Contact Us

Policies

    • Privacy Policy
    • Terms Of Use For Information
    • Terms and Conditions
Location

123A, Block D, Gali No 12, Shri Krishna Colony, Najafgarh, 110043


Follow Us On
© Copyright Startup Authority 2018. All Rights Reserved.
  • About Us
  • Privacy
payment-img