LIC Agent: Business opportunity for self-employed, others! Here is what you can do
LIC Agent: The Life Insurance Corporation of India (LIC) has been allowing registered companies, banks, NBFCs, co-operative societies and partnership firms to become its agents since 1 April 2014
LIC Agent: The Life Insurance Corporation of India (LIC) has been allowing registered companies, banks, NBFCs, co-operative societies and partnership firms to become its agents since 1 April 2014. The registration is done as per the directions of the insurance regulator - Insurance Regulatory and Development Authority (IRDA). This can be a huge business opportunity for self-employed, retired people and corporates too.
LIC of India started the Bancassurance & Alternate Channel in 2001. It has PSU banks, Regional Rural, Private and Co-operative banks and Corporate Agents as Bancassurance and Alternate Channel partners on roll.
The state-run company also allows individuals to work with it as agents.
For Corporate agents: To become a corporate agent you can contact LIC at the following address
Life Insurance Corporation of India,
Bancassurance & Alternate Channel, Central Office,
Yogakshema, 6th flr., Link,
Nariman Point, Mumbai - 400 021.
LIC has a PAN India network of 113 divisional offices, 2048 branches and 1381 satellite offices making it easy and convenient to transact business with it.
For Individual LIC Agents:
You can become an entreprenur with the freedom to be your own boss. You can choose your clients. No initial capital investment is required. LIC provides support to its agents in the form of sales and marketing tools. The state-run company offers attractive remuneration. The agents can set their own income targets with potential to earn more throughout out their lives.
You can offer your customers over 50 product combinations.
You can become an agent even without prior experience in selling. LIC also offers management career option with the company depending upon the performance of the agent.
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As per the LIC's own claims, the state-run insurer is serving over 30 crore customers. LIC has over 70% market share in the insurance domain. Government of India being its only stake holder, LIC policies come with sovereign guarantee.
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