How to pass IC 38 Exam as per NEW syllabus
What Is ERC for LIC agent?

LIC Agency as Free Pension

Pension for what? Its for old age financial need, a financial stability even a financial freedom .Be A LIC agent you will get all the stuff without any cost. Normally pension   is a type of retirement plan which gives monthly income at retirement age. Now a day’s employers offer pensions very rarely. Now Government organizations also offer   pension but taking employees contribution. Government  pension scheme, the employer contributes some money to the annuity  plan while employees are working. The annuity will be paid , usually as a monthly check at retirement, after one reach a particular retirement age. If you are not taking LIC agency then as normal citizen few avenues are available for you in the market, where you have to invest money.

  • Government National Pension Scheme
  • LIC Plan Jeevan NIDHI
  • LIC Jeevan Akshay
  • Private insurance company’s Equity linked Annuity scheme etc
As a LIC agent, if you are working for 5years minimum, you will secure good amount renewal commission, you may treat it as pension. The amount of pension will depend on your choice or on your labour.

Take a Example ,Suppose  you are LIC Agent and selling  1 policy in 1 week minimum rs 50,00 monthly mode(yrly  collected Premium would be Rs 60,000).
Note: We are considering only 48 weeks in a year in spite of 52 weeks. We all knows that LIC gives 35% of premium for 1st year,7.5% of Premium for 2nd and 3rd year thereafter 5% of premium  till policy holder pays to LIC of INDIA.

It shows whatever amount of premium, you will decide to sell in a week that will be your monthly income after 5years till the policy holder pay premium to LIC of India.

How to pass IC 38 Exam as per NEW syllabus
What Is ERC for LIC agent?
LIC Agency as Free Pension

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