Choosing a career is a vital part of our life dreams. Almost, 90% of fulfilling our dreams is dependent on what career we have chosen. If you have come across an opportunity to become a LIC agent & make a living to live the life of your wish, then this blog post gives you clarity on, how to become an LIC Agent!
Joining LIC as an agent is a journey that involves a structured process. You should have minimum eligibility & you should choose the right mentor or trainer to become successful in this career.
This article takes you through the series of steps to follow to join LIC as an insurance agent.
Table of Contents
Detailed Guide on How To Become An LIC Agent in India
The Eligibility & Documentation Criteria To become a LIC Agent
Now that you’ve decided to join LIC (Life Insurance Corporation of India) as an agent, here’s how you should go about it.
The process involves a few basic steps, such as meeting the eligibility criteria, undergoing training, and clearing an examination. Let’s dive into the step-by-step guide to becoming a LIC agent.
The first step to begin this process to become a LIC agent is to fill up a sponsorship application form and submit self-attested Xerox copies of the following documents:
- 10th Standard marks sheet
- Certificate of Highest Qualification achieved
- PAN card
- Local address proof/Aadhaar Card
- 6 Passport sized photos
After processing your LIC sponsorship application form and the above documents, we will call you for an informal meeting with the Branch Head to check your eligibility and suitability for the role of the LIC agent member.
Click here to download the sponsorship form
A training and examination program to Become a LIC agents
1. IC38 Training Program
After that, you will be required to take the IC38 training program (both online at your convenience time or offline for 4 days at the LIC training center), which is for 25 hours.
This course covers the basics of life insurance, health insurance, documentation, financial planning, regulatory aspects, customer service, etc.
2. Online/Offline LIC Agent Classes
You have the option of either doing this online or in class. The advantage of the online option is that you can do this from the comfort of your own home since it is location-independent.
The classroom training is a 4-day program, from 10:30 AM – 5:30 PM. As with face-to-face training classes, you will have the advantage of clearing any of your doubts as you interact with the trainer. You will also have the chance to meet and interact with other aspiring people who want to become a LIC Agent.
You can choose the mode of training accordingly.
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3. Prepare for the IC38 Exam with 25-Hour Training
Once you have completed the IC38 training program, you will have to take a 1 hour online test. Once you have completed the 25-hour training and taken adequate mock tests, you will find the actual test to be relatively simple. To do well on this test, make sure to study the training material thoroughly.
Although the actual IC38 is quite a voluminous document, with 450 pages, and would take you a couple of weeks to study it; there is an abridged version, including mock tests.
The mock tests help you gauge your understanding of the subject and whether or not you are prepared to sit for the actual exam. You can explore & choose the mock test here – 10 Best LIC Online Mock Tests for Agents
4. Take IC38 Test To Become LIC Agent
Overview of the IC38 Test Conducted for LIC Aspirants
The test is a physical computer-based test, which will be held at the NSEIT Ltd Test Centre. It is a multiple-choice test where the candidate will have to select the right answer from a list of 4 options.
There will be no negative marking, which means the candidate can attempt all 50 questions, without the fear of losing any marks.
To pass, the candidate has to get 18 answers correct out of 50, and 17 out of 50 is considered a grace pass. The score will be made available immediately after the test has been completed.
Failed candidates can re-apply again and there is no limit on the number of attempts; however, each attempt will cost Rs. 502/
Tip for the Test: Start with attempting questions that you are sure of let’s say those are 10-12 questions. Next, since there is no negative marking, for the remaining questions, even if you answer them all as “c”, because of probability you will at least get an additional 8-10 marks.
For the above procedure, there is a one-time fee to become an LIC agent, which is as follows:
150/- fees payable at the LIC counter
150/- fees payable only for the online training
502/- fees for online NSEIT Test
Final Setup of Become a LIC Agent
Once the test has been cleared, the candidate will then have to visit the concerned LIC office, along with 6 passport-sized photos and a cancelled cheque for the online transfer of commission payments.
Another application form will then need to be filled out. After this, LIC will be issuing an appointment letter and an agent ID card.
Your journey to become a LIC agent is ready to begin in the insurance world!
How long will it take to become a LIC agent?
It’s a quick process and a rewarding field. It takes only 3-4 weeks. So, you go for an application, and after this, there will be a basic interview, then you are enrolled for mandatory training sessions usually ranging between 25 to 50 hours.
There, you will learn everything about insurance, and then there is the IRDAI exam, in which passing the exam will make you qualify as a licensed LIC agent. This short journey to becoming an LIC agent shall lead you to a fulfilling and lucrative career with the license in hand, to help people secure their future. Learn more about Process to Become LIC Agent outlined by our experts.
Can I be a part-time LIC agent?
The answer is a big YES! You can become a part-time LIC Agent.
It helps you continue your present job or fulfill the other commitments in your life. Since you are working at your pace, you can be more time-effective in managing things while making some extra money on the side. As a part-time LIC agent, you can schedule meetings and appointments on your suitable dates, gradually develop a significant client base, and thus increase the scope for your professional growth.
Each policy sold by you shall fetch you commissions to convert your part-time efforts into profitability. Whatever may be the potential of the side hustle becoming a full-time venture, this part-time LIC agent opens doors to financial and professional prosperity. However, keep in mind that success as a part-time agent often depends on your dedication, time management skills, and ability to build a strong client base.
Read More: Part-time Jobs in Bangalore as Become a Lic Agent
Conclusion
Becoming an LIC agent is an exciting journey that offers the potential for a rewarding and successful career. With LIC as a guidance, you can also earn high commissions with flexibility of time. By following the instructions and committing yourself to the necessary training and exam, you can embark on a fulfilling path in the insurance world.
There are many successful LIC agents are produced every year from Team Ajay Gupta at very affordable cost. You can easily enroll into the mentorship program of The Ajay Gupta to learn Hacks, Tactics & Sales Skills those are essential for an LIC agent to become successful in their career.
You can have a quick view on Bharat Parekh & Ravi Jethani Story to understand the level of success you can achieve as LIC agent.
Good luck on your journey to becoming a LIC agent!
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