Life insurance agency is a unique career if you want to be LIC agent in mumbai – it is monetarily rewarding and soul satisfying too.The commodity that a life insurance agent sells is unique- you sell and service financial security and hence the pattern of remuneration for the same is also unique. Life insurance profession is the “best paid hard work”. The harder you work the more commission you get. The Profession of LIC Agent is called LIC Agency and LIC Agent Recruitment is done with the guidelines of IRDA.
Its A Part Time Profession/JOB
Commission Based Profession (not salary )
Without Leaving Present JOB/BUSINESS







 Unlimited Income :

One Can write own cheque with own working hours.An agent works on commission basis. A stated percentage of the premium collected through his agency is paid as commission. 
Section 40 A(1) if the Insurance Act states that commission shall be
  • 35% of the first year’s premium
  • 7.5% of the second and third year’s renewal premium
  •  5% of subsequent renewal premium till maturity of policy.
    LIC Agent Commission
    LIC Agent Commission
     Commission rates are less if
  • for shorter duration policies means less than 15 yrs term and
  • Under single premium plans,only 2% of premium Commission would be given.

Noble Professional:

Like any other professionals

  • Financial
  • Legal
  • Accountancy,
  • Health consultants,  (LIC agent is an   Insurance consultant)

Pension (life time) :

  • As Renewal Commission life time till premium paid
  • If LIC agent works for 5 years,
  • As long as his policyholders pay renewal premiums,he or his Family Members will receive the renewal commission.(ERC & HRC)


Up to a maximum of Rs. 3,00,000/- is payable under Schedule VI of the (Agents) Rules, 1972 provided the agent has completed the business guarantee for at least 15 years called as “qualifying years”. The total amount of gratuity payable depends upon the total number of qualifying years and the amount of renewal 8 commission he earned in the “qualifying years” out of the last 15 years of agency. Gratuity is payable at age 60/65 or on resignation or termination for any reason other than an excepted reason, subject to fulfillment of the above condition. Gratuity is also payable on death while agency is subsisting and the amount depends on the number of “qualifying years” completed and the renewal commission earned in the “qualifying years”.

Dream TWO/FOUR Wheeler :

Loan with no interest, Only principle amount have to pay without interest in 60 months.


Loan on 5.25%  interest only.








Agent can have office to nurture old clients  and procure new clients. LIC will pay allowance upto Rs 25000 per month.


  • LIC agency gives a good  recognition in the society
  • Adding “LIC” to your Vehicle  or to your Visiting Card will give a status

International Status

Like MDRT,Club Member

Job Satisfaction :

With no hectic office hour, No target ,No pressure

Help to the Nation:

Some Part of your LIC premium goes to Nation building Like Bridge/Fly over /Road etc

Eligibility  to be LIC agent:

Min SSC Passed and I8 yrs completed is necessary  but actually ,one should have soft skill to sales policy and retain the customer for ever. So that one can generate new prospect from old one. LIC agent protecting funds of customer as well as providing risk cover also. Hence ,LIC agent always update them self with financial news.


Procedure to be LIC agent

There are few steps to follow to be LIC agent .Those are as below   

  1. Fill the Agency and urn forms
  2. Get online /Offline training
  3. Pass IRDA Exam
  4. Interview at Branch level .Then get LIC Agency code.

IRDA Exam for LIC Agency
Its a online exam at different centers in Mumbai. Total duration of objective Exam is one hours. 50 multiple questions  would to be answered .Passing marks is 35% (seventeen marks).We will provide you books ,mobile app and training to pass the exam.

Role of LIC Agent or LIC agent

LIC agency is a Salesmanship

It’s a responsibly of LIC agent to identify proposer (prospective insurance buyer) who is enjoying good health and sound financial capabilities .Insurance is a hidden need of every individual always it is not in the priority lists of people. So it’s a part of LIC agency to bring that need into priority of proposers by showing risk cover, saving, returns, financial provisions for particular goals etc. Once need is created then it is easier to give solutions for that need. Hence if you want to be LIC agent ,you have to meet new people on regular basis.
LIC agent must have equipped with all LIC plans knowledge as well as other financial market product in order to explain to prospective. Role of LIC agency is providing financial security and showing saving opportunities.
LIC agency as Intermediaries between proposer and LIC
If any one wants saving, risk cover, retirement solution, child education provision ,daughter marriage provision ,Tax planning etc for long term ,they have to  take LIC policies. Only LIC agent is the authoriesed person to sale LIC policies. Now a days LIC is saleing very few plans (Term insurance, Single Pension plan ,Cancer Plans ) through online, but if is not very compatible with we Indian. We always need one to one explanation with some experts rather online reading abstruse terminology.
Underwriting is assessment of risk of particulars. LIC agent inquires about present heaths, physical builds ,personal habits ,family history of health, present occupation etc then give the report to LIC .It helps LIC to take decision whether the person is eligible for having LIC plans or not.
LIC AGENCY as a service Provider
Having LIFE Insurance is a long term phenomenon, throughout the policy term of 15,20,30yrs clients need personal guidance and help .LIC agent helps them with proper service like premium payments, revival of policy, address change, change of nominee ,surrender of policy ,Loan etc. this after sales service of LIC agency also help for new sales to old customers.