LIC Agency Benefits: Unlock Your Earning Potential

All Agents upto Age 69 are automatically covered for Group Insurance based on the duration of agency as per the Sum Assured Limits given below:

👉 Upto 3 Years: Rs.5,00,000

👉 3 to 5 Years: Rs.7,50,000

👉 5 to 10 Years: Rs.10,00,000

👉 Above 10 Yrs: Rs.15,00,000

A Very Small amount of Premium is deducted from your COMMISSION to provide the above Cover.  This is a REAL BOON to all Agents irrespective of your Service.

Gratuity is a Benefit which is given by an Employer to his Employee in recognition of his/her Service for a Longer period of time.  LIC AGENTS are granted Gratuity by our Organization even though AGENTS are NOT Employees. To avail Gratuity, an Agent should have completed minimum 15 Qualifying Years and Age should be 60 and above (both conditions to be satisfied).

The amount of Gratuity is dependent on the Renewal Commission earned in the Qualifying Years.  There is a Standard Formula to arrive at Gratuity; More the Renewal Commission earned, more would be the Gratuity. But the Maximum Ceiling amount for Gratuity Payment is fixed at Rs.5,00,000 (as on date).  This amount will certainly increase in the days to come. Keeping this in Mind, all AGENTS (especially NEW) should focus on earning More Renewal Commission year-after-year.

Hereditary Commission is nothing but continuance of Renewal Commission to the Nominee of the Agent after his/her unfortunate demise. This is 1-of the GREATEST BENEFITS in LIC AGENCY which is otherwise NOT seen or heard in any other Organization.

As per Regulation 19 (5) of the LIC AGENTS (Regulations) 2017, in the event of death of any Agent, any commission payable to the Agent would be paid to the Nominee of the Agent provided at least 2 years' Service has been completed by the Agent and a minimum of 12 LIVES should be in force prior to death.  This HEREDITARY COMMISSION ensures that the HARD WORK of an AGENT is transferred to the NOMINEE till the Last Policy introduced by the Agent goes out of the Books of LIC.