Reasons to Become LIC Agent
Most sought-after career for young and experienced professionals
It is far from Mundane!
You will never get stuck in any kind of a routine, because of
a. The nature of your work
b. You will be constantly meeting new people
c. Forming connections
d. Traveling
Zero risk and very high rewards.
Once you have established your loyal customer base, most of your business will come from repeat business and/or referrals
You can also become a payroll employee as a development officer when the recruitment happens (vacancies are earmarked for advisors).
Your LIC career will enable you to grow both personally and professionally.
You are the business…!!!
You are in total control of how you operate it.
You can pass on existing practice and clientele to your children as a legacy.
Selling a LIC policy to an existing client saves time and energy and therefore is more effective than working with new prospective clients.
You can grow to the next level as
a. Corporate OR Galaxy Club member
b. You get cash equivalent benefits of up to 6,00,000 extra.
Are you ready for the challenge?
A career as a LIC Agent is full of opportunities!!
Why You Should Become An LIC Agent?
Introduction
- LIC Agent is a noble profession to provide Life Security to the people of India.
- LIC agents contribute to the Economic Development of the Country.
- The average income of TOP 20% of LIC Agent is above 12 Lac per annum.
Market Potential
- Out of total insurable population only 40% are covered till today.
- These 40% also are also not adequately covered.There is a protection gap.
- Only 20% of total agency force is working as Professionals, and these 20% brings 80% of total life Insurance business.
WE WILL HELP TO BUILD YOUR CAREER AS A PROFESSIONAL AGENT AND MAKE SURE THAT YOU WILL BE AMONG THESE TOP 20% AGENTS
Job Profile
> Prospecting
> Need Analysis
> Plan Presentation
> Closing of Sale
> After Sales service
Benefits of LIC Agency
> LIC agency is highest paid profession in the world
> Business with less Capital Investment
> Royalty Income
> Freedom to set your own working hours
> Opportunity to earn as per your potential.
ALL THESE POSITIVE ASPECTS PROVIDE YOU WITH TREMENDOUS OPPORTUNITY TO BUILD YOUR CAREER AS A PROFESSIONAL LIC AGENT
Successful LIC Agent Qualities
> You should be outgoing.
> Ambition to start own Business.
> Good Communication Skills
> Should have lot of Perseverance
> You should have Dedication and Devotion
Growth Opportunities
> Low Insurance Penetration
> Low Insurance Density.
> Low Volume of Life Insurance Premium.
> High per capita Savings.
> Increase in working population.
> Growth in personal Income.
> High Consumer Awareness.
> Strong LIC brand.
In Brief
> Least Insured life Insurance Population.
> Paucity of Professional Agents.
> Low Insurance Penetration and Density.
> Low percentage share of world market.
> High rate of personal savings.
> Young working population.
> Rising Insurance awareness and
> Strong Brand image of LIC of India.
Some Interesting Facts For You!
High Per Capita Savings
- Indian People are good savers. For the year 2016-17 Indian Gross household saving in financial sector is 9.20% of GNDI (Gross National Disposable Income – Income available for consumption and saving)
- The share of life Insurance premium was 20.0% of gross house hold savings.
- Indian house holds saves more than those in other emerging markets like China and Brazil.
- The corresponding house hold savings in Brazil are 5%, China-15%, UK-2%, USA-1% of gross domestic savings.
ALL THESE POSITIVE ASPECTS PROVIDE YOU WITH TREMENDOUS OPPORTUNITY TO BUILD YOUR CAREER AS A PROFESSIONAL LIC AGENT.
Increase in Working Population
India has about 65% of young population at present i.e. age group 20 to 49 years. This is expected to grow until 2050.We are enjoying the demographic dividend. The income level of this group is rising and with increasing life expectancy and concept of nuclear family the need for life insurance will also increase
As per World Economic Forum report 2016:
India is the world’s fastest growing large economy, having outpaced China.
The middle class is growing at breakneck speed and will one day overtake the rest of the world. It has already reached 60 Crores. So half the population is middle class
Number of households with disposable income of more than Rs - 6 lacs has increased from 2 Crores to 5 Crores from 2006 to 2015.
As per PWC report Average Wages of Indian will Quadruple from 2013 to 2030.
THE REPORT SAID THAT TWO THIRDS OF THE INDIAN MIDDLE CLASS IS TO BE FOUND IN URBAN INDIA
A report on the savings pattern states that
Become An LIC Agent
Be A Part of Team Ajay Gupta
Strong LIC Brand
You will be associated with one of the leading Life Insurance companies in the world. The brand image of LIC of India is huge, people in India identify life Insurance as LIC only. Thus, selling life Insurance policies for LIC of India is much easier.
Strong LIC Brand
We have different products catering to the differing needs of all segments of society. These are basic Insurance plans (whole life, endowment, and money back), Term Assurance Plans, Unit linked plans, Pension Plans, Health plans, etc.
Policies to be Guaranteed by The Central Government
The sum assured of all policies issued by LIC of India including any bonuses declared in respect thereof and, subject to the provisions contained in section 14 the amounts assured by all policies issued by any insurer the liabilities of which have vested in the LIC of India under this Act, and all bonuses declared in respect thereof, whether before of after the appointed day, shall be guaranteed as to payment in cash by the Central Government. Under Section 37 of LIC ACT, 1956
LIC policyholders also enjoy a double guarantee in terms of high Solvency margins (more assets in relation to liabilities)
Market potential summary
- The Least Insured Population,
- Small Number of Professional Advisors,
- Low Insurance Penetration and Density
- Low Volume of Life Insurance Premium,
- Low Volume of Life Insurance Premium,
- High Rate of Personal Savings
- Young Working Population
- Increasing Middle- and Higher-Income Class,
- Rising Insurance Awareness and
- Strong Brand of LIC of India
