You’re not alone if you’ve ever considered to join LIC as agent. This is a path to financial freedom and the opportunity to help people secure their futures.
Like with any profession, there are myths and misconceptions that keep some people on the sidelines.
This blog takes a closer look at six commonly held misconceptions about becoming an LIC agent, based on recent survey findings and real-world experiences.
It’s time to clear up the air and help you figure out if this career is for you!
Table of Contents
What Are The Myth Busters To Join LIC As An Agent?
Myth 1: Process to Become an LIC Agent is Complicated
Most people believe joining LIC as an agent is a long drawn-out process full of red tape.
The fact of the matter is, it is actually quite simple! All you have to do is meet a couple of basic requirements: you must be older than 18 years and have accomplished higher secondary education. Check detailed process of becoming LIC Agent here.
Once you’ve gotten through all those boxes, just go to your nearby LIC branch. Next, get there and complete a 25-hour training program, and pass the compulsory IRDAI Pre-Licensing Exam.
A recent survey by the Insurance Regulatory and Development Authority of India (IRDAI), finds that over 75 % of new agents said that they found the onboarding process was simple and organized.
That means there’s nothing to get too complicated about—starting is easier than ever!
Myth 2: High Earnings Are Guaranteed for LIC Agents
You probably think being an LIC agent would make you a pile of money as soon as you become one. The fact is, there is the potential for good earnings, but it ain’t instant.
Your sales performance, client base and the current market conditions largely determine your income. For instance, over the last few years, first-year commissions have fallen from 35 %down to just under 28 %, causing some agents to worry about an unstable income.
The National Association of Insurance Agents surveyed and found that 68% of agents are unsure how much they will be earning with these commission changes.
Yes, you can make a lot of money, but you have to work very hard, build a lot of relationships and understand the market. Success in this field is not about quick gains but dedication. Learn How LIC Agents Earn Money? for detailed explanation on the commission structure.
Myth 3: LIC Agents Should Just Sell Life Insurance Policies
A myth about joining LIC as an agent is that it is all about selling insurance policies.
Being an LIC agent in reality isn’t about sales. You’ll spend a lot of time not only learning about your client’s needs but also providing personalized advice and ongoing support throughout the life of the policy.
The Life Insurance Corporation of India says 80% of customers prefer to work with agents who offer valuable personalized service rather than just trying to sell them something.
Hence when you join LIC as agent, you’re not just selling products, but creating the ability to plan for the future and giving peace of mind. It’s about the relationships that stick and have a real impact.
Wait for What? Become LIC Agent with Expert Assistance from Ajay Gupta!
Myth 4: There's A Limited Career Growth Opportunities in LIC
Another very common misconception is that once you join LIC as agent, you have nowhere to go. However, it couldn’t be any further from the truth. You can explore more Career opportunities for LIC agents here.
There is plenty of room for growth in the insurance industry! So whether you are looking to step up and manage or specialize in specific areas like health or retirement plans, there is always a way to go forward.
You also find training programs such as ‘Jeevan Samarth’ by LIC which deals with training agents to upgrade their skills and learn new market strategies.
Research indicates that these professional development programs boosted the careers of about 70% of the agents who attended them. If you’re ambitious and willing to learn, becoming an agent at LIC can be just a starting point on a rewarding path.
Here are some important tips to become LIC agent.
Myth 5: The Insurance Market is Saturated To Join LIC
People worry that there is no room for new agents and that the insurance market is so crowded you can’t even get in. The reality is that there’s still a lot of room.
Even though there are more than 14.4 lakh active insurance agents in India, but the need for insurance still again is increasing, given that people are more aware of the importance of financial security.
Besides that, recently rules were changed so that agents can sell products from many insurers, which let them expand their business and take part in the market.
The insurance institute says the life insurance market in India will grow by 12% every year for the next five years. This means there is a lot of room for new people to come in and work as agents and do well
Myth 6: We Should Work Long Hours with No Flexibility
Working 12-hour days with no flexibility is not what you are signing up for if you decide to join LIC as agent.
This career is one of the most flexible ones. When you become an LIC agent, you decide your own hours based on what you prefer and what your clients need.
A survey from CareerBuilder actually found that 78% of insurance agents prize work-life balance and flexible hours among their favorite aspects of the job.
That’s why becoming an LIC agent allows you to enjoy some freedom – you can spend more time with your family or explore other pursuits without impacting your work. To bust this myth you can learn the benefits of LIC Agent.
Conclusion
It’s not just about selling insurance when you join LIC as agent, it’s about what you can do for your clients, and how you will build relationships and have a career that gives you flexibility and growth.
We’ve busted these six myths and shown that being an LIC agent is a rewarding and limitless career. Hereafter you can focus on “How to Become LIC Agent” to get started with new career.
Agents are increasingly unsure about their future income because of commission changes, and as such, it’s critical to keep up with industry trends and change accordingly. With some determination, skills development, and commitment to client service though, when you join LIC as agent, it can be a rewarding and lucrative option.
Want a career where you can ensure you meet your professional goals while making a difference in people’s lives… well, join LIC as agent and you might get what you were looking for!!
