Join LIC

Here�s a simple step-by-step guide on how to become an LIC agent

Eligibility:

12th standard pass
Age 18 and above

Process:

Contact your nearest Branch Office and meet the Development Officer there.

The Branch Manager (I/C) will conduct an interview, and if found suitable, you will be sent to training at Divisional/Agency Training Centre.

The training is for 100 hours and covers all aspects of Life Insurance Business.
After successful completion of training you will have sit for Pre-Licencing examination conducted by the Insurance Regulatory and Development Authority (IRDA).

After successful completion of the examination you will awarded a Licence by the IRDA to work as an insurance agent.

You will be appointed as an agent by the Branch Office and you will be a part of the team under your Development Officer.

The Development Officer will impart you field training and other valuable inputs which will help you in the market place.

Can I Become An Agent?

You certainly can if -

• You are outgoing and like meeting people
• You are ambitious to own a business
• You only want your clients to be your bosses
• And you want to decide your working hours

Unlimited earning potential; A clear career path; all round support through exclusive advertising, your own in-house consultant, and world-class training:

• A comprehensive benefit package
• Training
• Careers
• Rewards & Recognition

They are a key source of business for the organization, and are the continuing link with our clients. That is why; we take a lot of care in recruiting and developing our agency force, so that we continue to set higher standards of quality in service and salesmanship. To cater to the needs of the knowledge-oriented marketplace, we look for graduates who are service-oriented, good communicators and enjoy meeting new people. Prior sales experience is an added benefit.

Some Of The Qualities We seek Are:

• Self-motivation
• A master communicator
• A go-getter
• A graduate

Jeevan Amrut

Product summary:
Some people, particularly the younger ones, want to have high cover at a low cost. Further, many of them do not want commitment to pay premiums for a longer duration. LIC's Jeevan Amrit is most suitable for such persons. Under this plan premium payment is limited to 3 or 4 or 5 years and the premium payable during the first year is higher than the premiums payable in subsequent years.

Options:
You may choose Sum Assured (S.A.), Premium Paying Term, Policy Term and Mode of premium payment.

Payment of Premiums :
You may pay premiums yearly or half-yearly during the premium paying term of 3 or 4 or 5 years.

Life in India

Economic functions

The economic functions of banks include:

1. issue of money, in the form of banknotes and current accounts subject to cheque or payment at the customer's order. These claims on banks can act as money because they are negotiable and/or repayable on demand, and hence valued at par and effectively transferable by mere delivery in the case of banknotes, or by drawing a cheque, delivering it to the payee to bank or cash.
2. netting and settlement of payments -- banks act both as collection agent and paying agents for customers, and participate in inter-bank clearing and settlement systems to collect, present, be presented with, and pay payment instruments. This enables banks to economise on reserves held for settlement of payments, since inward and outward payments offset each other. It also enables payment flows between geographical areas to offset, reducing the cost of settling payments between geographical areas.
3. credit intermediation -- banks borrow and lend back-to-back on their own account as middle men
4. credit quality improvement -- banks lend money to ordinary commercial and personal borrowers (ordinary credit quality), but are high quality borrowers. The improvement comes from diversification of the bank's assets and the bank's own capital which provides a buffer to absorb losses without defaulting on its own obligations. However, since banknotes and deposits are generally unsecured, if the bank gets into difficulty and pledges assets as security to try to get the funding it needs to continue to operate, this puts the note holders and depositors in an economically subordinated position.
5. maturity transformation -- banks borrow more on demand debt and short term debt, but provide more long term loans. Bank can do this because they can aggregate issues (e.g. accepting deposits and issuing banknotes) and redemptions (e.g. withdrawals and redemptions of banknotes), maintain reserves of cash, invest in marketable securities that can be readily converted to cash if needed, and raise replacement funding as needed from various sources (e.g. wholesale cash markets and securities markets) because they have a high and more well known credit quality than most other borrowers.