Remuneration and Benefits

Remuneration and Benefits’ are the core of the driving force behind all human endeavors. So is our motto of the true ‘Financial Freedom With LIC Agency’. Here we provide you your ‘Remuneration and Benefits’ in the form of commission periodically (Every Fortnight). The distribution of commission on your business vary from plan to plan. It could be in the range of 2% to 20% on annual premium in first year. This is not done, you will get additional fringe benefits on your business procured in the form of Bonus commission, Renewal Commission, Cash Prizes, Gifts, Education Tours (National & International).

The More you procure business, the more monitory benefits you reap & with time Your LIC Agency become a cash machine that provide you Cash every month for many years(depending on policy term). Every year you procure new business which produce you 2% to 20% & you get renewal commissions @ 6% to 7.5% on previous business. Hence it produce ‘Snowball Effect’, which ultimately make you to achieve your ‘Financial Freedom’.

‘Remuneration and Benefits’ not end with pay out of commission only. Apart From these direct benefits your LIC Agency provides ‘Social Security’ to you and your family in the form of : Gratuity, Group Insurance, Mediclaim. Also we provide some more additional benefits to our Top Performing Club Member Agents who are Subsidized Home Loan @ 5%( Up to 25 Lakhs), Interest Free Car Loans, Interest free Festival advance

The ‘Remuneration and Benefits’ Can Be Summarized As –

First Year Commission @ 2% To 20%
Bonus Commission @ 40% of First Year Commission.
Renewal Commissions @ 7.5 % to 6% or 5%
Cash Prizes/Gifts
Group insurance
Mediclaim
Gratuity
Hereditary Commission to family in case of demise.

Here’s a breakdown of the ‘Remuneration and Benefits’ of becoming an LIC agent:

Remuneration:

First-year Commission (FYC): This is the highest commission you’ll receive, typically ranging up to 20% of the first-year premium.
Bonus Commission : It will be up to 40% of The First Year Commission.
Second year to 5th Year Commission: You’ll earn up to 6.0% of the premium amount in these years.
Renewal Commission: This is a recurring income, typically up to 5% of the premium amount, paid annually from the fourth year onwards as long as the policy is active.

Benefits:

High Earning Potential: With consistent performance, you can earn a significant income.
Residual Income: Renewal commissions provide a steady stream of income even after the initial sale.
Flexible Work Hours: You have the freedom to manage your own schedule.
Training and Development: LIC provides extensive training programs to equip you with the necessary skills.
Career Advancement: You can progress to higher positions within the organization.
Recognition and Rewards: Top-performing agents are recognized and rewarded with incentives and bonuses.
Perks: You may be eligible for various perks like office space, travel allowances, and other benefits.
Social Security: LIC agents are eligible for certain social security benefits like gratuity and pension.

Additional Considerations:

Commission Structure: The exact commission rates may vary depending on the specific policy and your performance.
Performance-Based: Your income is directly linked to your sales performance.
Initial Investment: You may need to invest in initial training and marketing materials.

Overall, becoming an LIC agent can be a Lucrative Career option with the potential for high earnings and flexibility. However, success depends on your dedication, sales skills, and ability to build and maintain strong client relationships.

So what are you waiting For? Start Your Journey of “Financial Freedom With LIC Agency” today and made your future secure financially with the brand name and trust of LIC of INDIA whose motto is ‘Your Welfare’ (योगक्षेमं वहाम्यहम्).

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