“Zindagi ke sath bhi, Zindagi ke baad bhi” – This iconic tagline of the Life Insurance Corporation of India (LIC) beautifully reflects the promise of life insurance—ensuring that your loved ones are taken care of, even when you’re no longer there. This isn’t something that an LIC agent simply communicates; it is a message that one embodies.
It is not about selling a policy; it is about ensuring families are protected, and clients can sleep well knowing their family is covered. A career as a LIC agent is one of the most enriching and splendid ones that an individual can begin with.
But as with any new profession, there are certain pitfalls that a lot of new agents fall for, which can hinder their progress. And let’s be honest—life’s too short to learn everything from your own mistakes, right? Therefore, below are 10 mistakes that one should avoid when beginning their career as a LIC agent.
Avoid These 10 Mistakes To Start Your Career As LIC Agent
Table of Contents
1. Ignoring your client’s need is Huge Mistake
The first major blunder an LIC agent could commit is never making an effort to learn and comprehend their client’s needs and financial background.
Selling a policy is more than just about reaching a particular sales figure; it is about presenting a product that can solve a client’s problem. Never assume that you know what the client wants for the future more than they do.
Thus, by being aware of what matters to them and what are their fears, one will be able to suggest favorable policies to be adopted to fulfill the customer’s dreams, thus creating a basis for a long-term partnership.
2. Never Expect Too Much & Too Soon
You will get numerous opportunities to make money if you choose your career as LIC agent; it may take some time to be able to get customers and gain their confidence.
It is also important to note that many newly appointed agents enter the market with high expectations of making huge sales right out of the starting line, but this is not usually the case generally.
There is no need to expect high income or increased sales figures during the first several months or even years of work. Just have to be patient—your hard work will certainly yield fruits as you progress with your solutions and get more clients. Learn more about – How LIC Agents Earn Money?
3. Never Ignore Training & Mentorship While Being LIC Agent
In the energy & excitement of making more money, there’s a huge tendency to forget the best practices of sales & customer relations by ignoring continuous training & mentoring.
Lack of training or having no mentor to guide you when starting can greatly set you back in your career as a LIC agent. Professional agents are peers who can offer valuable advice based on their experience as well as tips for dealing with certain missteps in your selling approach. Where available, join a mentorship program, and do not miss out on training camps. You can team up with Ajay Gupta to create a successful career in LIC.
A good role model can help you learn the information faster and make you aware of the pitfalls in the insurance industry at the same time.
4. Don't Neglect Follow-Ups
Follow-up is the most important & basic strategy for getting sales. You might be good at pitching the service, meanwhile, you might be bad at following up. Missing out on follow-ups is like forgetting to Brush before you take a bath, your mouth stinks the whole day.
A sale does not signify the total end of the communication process between you and the potential client but the commencement of it. One mistake that most new agents make is they lack proper follow-up with clients even after a sale has been made.
When you engage in follow-ups, your clients get to understand that you have their back when it comes to financial matters and not just because you want to make another sale. Such follow-ups also create a customer base out of your clients, which sometimes could result in referrals, and in the long run, business renewals.
5. Ignoring Potential of Digital Marketing
Adaptability is one of the key elements for success. A true leader always think to adapt themselves with what’s working in the market. Digital marketing is a crucial platform for expanding your business.
In today’s society, people cannot underestimate the importance of the Internet in marketing. Unfortunately, the majority of LIC agents are still confined to cold calling and word of mouth as their primary means of accessing clients.
Although those are relevant, they pale into insignificance when compared to the opportunities that come when organizations embrace digital tools. Understand how to generate leads by using Social media platforms, email marketing, and websites. Digital marketing is no longer an option but a necessity for reaching out to new clients and tapping into new markets.
You can hire the best Digital marketing agency where you invest a good amount of money to generate better RoI out of it.
Join Elite Team of Ajay Gupta
6. Never Overpromise Your Client out of Greediness
Due to the desire to complete a sale, many new agents run the risk of overstating what the policy can accomplish. It leads to disappointment and dissatisfaction resulting from the failure of the policy to deliver as per the expectations of the client.
Consumers should not be given distorted information about the benefits of each policy and should not be overselling what these policies are capable of.
It is always better to underpromise and then deliver more than expected than to promise a lot and perform dismally. Satisfied clients are more likely to recommend others to seek your service which will in turn boost your career as an LIC agent.
Explore these Top 5 Agencies to Become a LIC Agent in Bangalore
7. Ignoring Potential of Network in Sales
Networking is very crucial to any insurance pathway as it plays a vital role in enhancing your career as an LIC agent.
Reliance on the clients coming on their own would greatly hinder the expansion process of any business. Look for ways to extend your circle of contacts – and this does not only mean, searching the net.
Go to industry meet-ups, be active on social media, and network with other professionals. People in the network can help you to gain more exposure and connect you to potential clients.
8. Time Management is Everything
When you choose your career as a LIC agent, Orders and schedules have to be met in your ever-busy life, and this calls for efficient time management.
Just imagine trying to manage your appointments, paperwork, and outreach – all at the same time – without a good plan. Have goals and objectives and keep things in a proper working order.
It could mean shifting from using a traditional calendar, creating a to-do list for the day, or scheduling your day such that you allocate specific hours for specific tasks – in essence, whatever is done to help you accomplish all your tasks without feeling worn out is time management.
You can use some appointment scheduling tools like Calendly, Outlook & Google Calendar, and Zoho Bookings which are free to use. This can be more helpful, Check out here – Important Tips to Become LIC Agent
9. Lack of Product Knowledge
To gain the trust of clients, it is important to show confidence in the products you are pitching. Clients are clever enough to understand your abilities to differentiate products with their features, benefits & limitations.
So, spend time to understand all forms of investment opportunities offered through LIC such as endowment plans and even term insurance plans.
Product knowledge enables you to advise clients with a lot of confidence & assist them in making correct decisions concerning their financial assets.
Read this case study – Bharat Parekh & Ravi Jethani: Story of Two Successful LIC Agents in India
10. Always Be a Student
The insurance industry is fast growing, with the introduction of new products, changes in regulations and policies, and new trends. Sustained learning is crucial in gaining a competitive edge in the market.
Try to stay informed on changes in the industry, go to workshops, and try to read articles and books regarding the topic.
Agents who do not incorporate learning into their day-to-day work may find that they are not operating optimally in a relatively growing market. Be informed and you’ll always be more knowledgeable than the rest.
This might be more helpful – 5 Common LIC Agent Challenges & How To Overcome Them
Create best Career opportunities with LIC
As explained above, a career as an LIC agent is perhaps one of the most rewarding experiences any young, hardworking, patient, and willing-to-learn individual can undertake.
Steering clear of these pitfalls ensures that you can lay the perfect groundwork for a successful career as an LIC agent. Please do not forget that you’re not only offering customers some policies; you are giving them protection for their futures and their families. After all, not all superheroes wear capes, some sell life insurance.
You can Become a part of the most successful team of LIC agents in India & create brilliant career growth in LIC.
