What is the salary of insurance advisor in LIC?
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What is the salary of insurance advisor in LIC?
Average Life Insurance Corporation Of India LIC Advisor salary in India is ₹ 2.2 Lakhs for employees with less than 1 year of experience to 15 years. LIC Advisor salary at Life Insurance Corporation Of India ranges between ₹ 0.3 Lakhs to ₹ 4.5 Lakhs.
What is difference between advisor and agent?
“Advisor helps you to achieve your goals and provides end to end financial planning with proper risk mitigation.” “Agent lacks the knowledge of border spectrum of financial products and sell those products which are more beneficial for them and company they work / associated for as an agent”
How can I become a LIC advisor?
Here are the steps to apply for becoming an LIC agent:
- Visit the official website of LIC.
- Click ‘Be an Agent (Individual)’ under Join Our Team menu tab.
- Click ‘Apply-Now’ located on right side of the page.
- Fill in the application form to take it ahead with the branch office.
What is the work of LIC advisor?
Insurance advisors represent insurance companies and sell the insurance products offered by such companies to their clients. As such, insurance advisors sell insurance policies and, as a compensation for their services they earn a commission on each policy that they sell.
What is the meaning of LIC advisor?
Definition: A professional who provides specialized guidance and advice for investment in various insurance schemes is an insurance advisor or insurance consultant. He is alternatively also known as insurance consultant.
What is the salary of LIC agent in India?
LIC AGENT Salaries
| Job Title | Salary |
|---|---|
| Life Insurance Corporation of India LIC AGENT salaries – 6 salaries reported | ₹19,090/mo |
| Life Insurance Corporation of India LIC AGENT salaries – 3 salaries reported | ₹13,436/mo |
| Direct Agents LIC AGENT salaries – 2 salaries reported | ₹15,024/mo |
How do LIC agents earn?
Though, Agents earn the commission for the policies they sale. LIC offers 25\% to 35\% commission on the policy premium for the first year, then 7.5\% for 2nd & 3rd Year + 5\% till the policy maturity.
Is LIC agent a govt job?
No, state government or central government employees can not work as an lic agent.
How much does a LIC agent earn in one year?
Lic agency is a business nd there is no limit of earnings in business. By working even only one yr he can feed their family whole life. If lic agent sell 1000 policy on average of rupees 10000/- . He will get 35lacs and 5lacs every yr untill the maturity period of policy.
How to calculate LIC agent commission?
To illustrate the income benefit of a LIC agent from this plan, let’s consider the below policy details. Annual premium value 1,00,000Policy term 20 years (more than 15 years)In that case, as per the above commission chart, the LIC Agent commission calculation will be like below Total of all = 25,000 + 15,000 + 85,000 = 1,25,000.
However, in some cases, the LIC agents offer to give the 1st-month premium to inspire their clients to purchase the insurance plan. For an Endowment Policy with over 15 yrs. The agent gets 25\% as well as an Extra Commission for LIC agent on the same insurance plan to the level of 10\% on their 1 st Year Premium.
What are the different types of LIC plans and their commissions?
Types of LIC Plans and Their Commissions: 3.1. LIC Agent Commission on Children Plan 3.2. LIC Agent Commission on Endowment Plan 3.3. LIC Agent Commission on Pension Plans 3.4. LIC Agent Commission on Money-Back Plan