Career Path to become LIC Agent
Role / Profile
Who can become ?
Who is an LIC agent?
An LIC agent is a professional who provides advice on life insurance planning to people who want the best financial protection for their family in case of unexpected death, disability and retirement. The professional specialises in selling different types of insurances like property and casualty, life, health, disability and long-term care.
What are the roles of an LIC agent?
An LIC agent, apart from selling insurance products, are responsible for a number of other roles. Some of these are outlined below:
• Identifying prospective customers and making appointments to provide them with the necessary information.
• Understanding the needs of the customers and helping them understand theirs.
• Suggesting the best insurance plans to the customers and convincing them on the same.
• Providing after-sales service efficiently and whenever necessary.
What are the skills required to become an LIC agent?
To become a successful LIC agent, one should have the following skills:
• Strong communication skills (written and verbal).
• Good convincing and interpersonal skills.
• Proficient in selling and understanding the needs of the customers.
• Good analytical and problem-solving skills.
• High level of energy and a can-do attitude.
What are the career outcomes of an LIC agent?
• Sales Manager
• Business Development Manager
• Risk Manager
What is the average salary of an LIC agent?
There is no fixed salary for an LIC agent, they earn commissions through selling LIC policies. According to a report by LIC, the top 20% of LIC agents earn about ₹ 12 Lakhs per annum. Usually, the average earning is around ₹ 4-5 Lakhs per annum. You can improve your earnings if you have good communication and convincing skills, which you can get with the help of a certification in sales.
What are the career advantages of becoming an LIC agent?
The role of an LIC agent can have positive impacts in professional life. Some of the career advantages are:
• As an LIC agent, you will have the freedom to work within your preferred working hours.
• There is no limit to what you can earn as an LIC agent. The better you perform, the greater is your income.
• As you grow as a professional, the work gets easier and you can perform tasks without any difficulties.
• You can move to a good sales profile with the experience that you will gain as an LIC agent.
Which profiles can go for an LIC agent role?
• Fresh Graduates
• Sales Executives
• Telesales professionals
• Retail Sales Persons
Who can become an LIC agent?
• Fresh Graduates – If you are a fresh graduate and want to do something on your own, being an LIC agent will help you in that direction. You can earn on your own and in your own time. This way, you can pursue any other passion that you might have.
• Non-experienced professionals – It is easy for non-experienced professionals to become successful LIC agents if they have good communication and negotiation skills. You can get these skills through a professional training course.
• Experienced professionals – Most experienced professionals should have common skills like communication and convincing skills. You can boost your earnings with a certification in sales to understand the nuances of selling.
Naukri Learning offers a variety of professional certification courses in sales which can help you to boost your career, get better jobs and increase your salary.
What is the eligibility criteria to become an LIC agent?
There is no fixed eligibility criteria to become an LIC agent. You can become an LIC agent without any experience. You need to have good communication and interpersonal skills, which you can boost with the help of a certification in sales.
Why are candidates going for an LIC agent profile?
There are various reasons why candidates prefer to move to an LIC agent profile. Some of them are outlined below:
• Fresh Graduates – Those who want to earn without any limit on the potential and looking to work in their own time after graduating, the LIC agent profile offers them the right opportunity.
• Sales Executives – Most sales executives have to work hard to reach tough targets so that they can get good incentives. However, as an LIC agent one can earn good incentives if they have the energy and passion. This is why many sales executives look to utilise their sales skills to become an LIC agent.
What do recruiters look for in an LIC agent candidate?
Recruiters usually look for the following points in an LIC agent candidate:
• Prior experience – There is no prior experience needed to become an LIC agent. One only needs to have the right attitude and dedication to become a successful LIC agent.
• Key skills – Communication, sales, insurance, convincing skills, business development, client handling, relationship management, etc.
Who are the top recruiters that hire LIC agent candidates?
Many top organisations love to hire candidates who have experience in handling customers, have sales skills or worked as an insurance agent. Some of these big names are TATA AIA Life, Reliance Life Insurance, Bajaj Capital, American Express, and IDBI Federal Life.