LIC Club Membership is a prestigious recognition program for Life Insurance Corporation (LIC) agents, acknowledging their exceptional performance and dedication. For those aspiring to become a LIC agent, this elite club symbolizes success within the LIC community, as it rewards agents who consistently meet high sales targets, maintain strong client relationships, and achieve significant business growth.
What is LIC Club Membership? Understanding this better would help you get more clarity on how to achieve this milestone in your LIC career.
For LIC agents, achieving club membership boosts their professional credibility and enhances their earning potential, making it a key milestone in their career journey. Learn in depth about What is LIC Club membership? How to achieve it & benefits of joining the club in this blogpost.
Table of Contents
What is LIC Club Membership?
Club Membership is a reward program, LIC specifically designed for the agents-a reward for top performers through a financial package and office allowances to special privileges. It has several levels Branch Managers Club and Chairman’s Club where very few are rewarded to feature excellence.
It is an exclusive honor reserved for top-performing agents, with different levels such as Branch Manager’s Club, Divisional Manager’s Club, Zonal Manager’s Club, and Chairman’s Club.
Each level has its own set of qualifications, offering agents various financial and non-financial benefits, such as special incentives, office allowances, and access to exclusive training sessions.
What Are The Benefits of Joining LIC Club Membership?
If you are thinking of what the various Club Membership levels in LIC are, here are those –
- BM Club
- DM Club
- ZM Club
- CM Club
- Galaxy Club
- Corporate Club
There are various other benefits associated with these club achievements.
- Office allowance for CM Club members up to ₹1,00,000/- per annum.
- Office allowance for Corporate club members can go up to ₹1,75,000/- per annum.
- Get LIC guest house facility after attaining club achievement.
- A complimentary copy of “Yogakshema” is provided for those who achieved ZM, CM, Corporate & Galaxy Club.
- You will also get a certificate of membership which adds more credibility to your LIC career.
- You will also get MHR (Moral Hazard Report) authority by achieving Club membership.
Download the detailed PDF of Monetary Club Membership Benefits for LIC Club Members here.
Why LIC Agents Should Aim for Club Membership?
LIC agents should aim for club membership to achieve diverse career-enhancing benefits. Membership in a club denotes excellence, and the agent establishes a professional image and reputation.
It provides motivations in monetary form such as reward bonuses and office allowances, high commissions, as well as rewards in a non-financial sense, encompassed by special training and elite networking.
Getting a club membership shows that the agent has worked continuously and therefore contributed to better client retention, and eventually, to the establishment of trust.
It also shows an opportunity for long-term career advancement in LIC, so it is a great prize for any agent who works well.
What Is The Eligibility Criteria To Join LIC Club Membership?
| ELIGIBILITY CRITERIA | CM | ZM | DM | BM | DA |
|---|---|---|---|---|---|
| Min Net No. Of Lives | 40 | 30 | 20 | 15 | 40 |
| Net No. of Lives OR | 130 | 100 | 80 | 50 | 40 |
| No. of Lives in Force | 600 | 400 | 250 | 150 | 40 |
| Renewal Commissions Paid | 210000 | 147000 | 95000 | 53000 | – |
| First Year Commissions Paid | 210000 | 147000 | 63000 | 37000 | 50000 |
What Is The Salary for LIC Club Members?
| Club Membership Level | Salary/Income (Approximate) | Benefits |
|---|---|---|
| Chairman’s Club | ₹12 lakhs to ₹25 lakhs+ annually (based on commissions, bonuses, and other perks) | - Highest commission rates on policy sales |
| - Special allowances, bonuses, travel perks, housing, office rent reimbursement, health insurance, and gratuity | ||
| Zonal Manager’s Club | ₹8 lakhs to ₹15 lakhs+ annually (based on commissions and bonuses) | - High commission rates |
| - Special allowances, bonuses, travel reimbursements, and health insurance | ||
| Divisional Manager’s Club | ₹5 lakhs to ₹10 lakhs+ annually (based on commissions and performance) | - Moderate commission rates |
| - Some perks like office space allowance, travel expenses, and health insurance | ||
| Branch Manager’s Club | ₹3 lakhs to ₹7 lakhs+ annually (based on commissions and sales performance) | - Entry-level benefits |
| - Lower commission rates compared to higher clubs, limited perks like health insurance and travel allowance |
Become LIC Agent With Ajay Gupta
Get in touch with us to get mentored & become an LIC Agent
Success Stories of LIC Club Members
Mr. Bharat Parekh – Chairman's Club Member
Achievements:
Bharat Parekh is one of the most well-known and successful LIC agents in India. He has been part of the prestigious Chairman’s Club for several years and is recognized for consistently exceeding sales targets.
Journey:
Bharat started his LIC career at a young age, and faced initial struggles but gradually built his client base through exceptional service. His focus on relationship-building, personalized client solutions, and understanding insurance needs propelled him to the top.
Key Success Factors:
His ability to retain clients and increase referrals, along with continuous learning, made him one of LIC’s top-performing agents.
Income & Recognition:
His annual income exceeds ₹50 crores in premium collection. Bharat also holds the honor of being featured among the top insurance agents globally.
Mrs. Neelam Verma – Zonal Manager’s Club Member
Achievements:
Neelam Verma, a dynamic LIC agent, has been a Zonal Manager’s Club member for over a decade. She has achieved notable success in urban and rural areas by connecting with a wide range of clients.
Journey:
Neelam’s journey began as a part-time agent while managing family responsibilities. She invested time in understanding LIC products deeply and tailored her approach to match her client’s needs. Over time, she built a trusted network of clients who regularly sought her advice for life insurance and investment options.
Key Success Factors:
Consistent follow-up, empathy toward clients, and detailed product knowledge helped her rise quickly in her career.
Income & Recognition:
Neelam earns ₹8-10 lakhs annually and has received numerous accolades for her service in the insurance sector.
Wrapping up
LIC Club Membership is a prestigious achievement that reflects an LIC agent’s dedication, performance, and ability to consistently meet and exceed targets.
It offers numerous benefits, including higher commission rates, exclusive perks, and professional recognition, motivating agents to enhance their sales and client service.
For LIC agents, club membership signifies career growth, financial stability, and a reputation as a trusted advisor in the insurance industry. By achieving these milestones, LIC agents can enjoy a successful, rewarding career while making a positive impact on their clients’ lives.
Got the answer for what is LIC Club membership? If not contact Ajay Gupta to get guidance from professionals to increase the rate of your success!
Pingback: Become an Agent of LIC: How Long Does It Take? | Team Ajay Gupta
Pingback: What Is MDRT in LIC? Never Aim for It | Team Ajay Gupta
Pingback: Tips To Become Successful LIC Agent (From Experts) | Team Ajay Gupta
Pingback: Become LIC Agent: Skills, Tests, Process to Join | Team Ajay Gupta