How to Become LIC Agent: Education, Skills and Exam 

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. 

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

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%	210000	254100	307461	372028	450154	544686	659070	797475	964944	1167583
Renewal commission @7.5%		45000	54450	65885	79720	96461	116718	141229	170887	206774
			45000	54450	65885	79720	96461	116718	141229	170887
				30000	36300	43923	53147	64308	77812	94153
					30000	36300	43923	53147	64308	77812
						30000	36300	43923	53147	64308
							30000	36300	43923	53147
								30000	36300	43923
									30000	36300
										30000
Total Income	210000	299100	406911	522362	662058	831091	1035620	1283100	1582551	1944886
Monthly Income	17500	24925	33909	43530	55172	69258	86302	106925	131879	162074
Income per hour	583	831	1130	1451	1839	2309	2877	3564	4396	5402

LIC Agent Gratuity Calculation Formula 

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