Friday, January 8, 2016

Procedure to Become LIC Agent in Mumbai


Procedure to Become LIC Agent in Mumbai

LIC Agency is one of the world’s best professions in terms of money, recognition and job satisfaction. It is the highest rewarding career as it offers you an unlimited income earning opportunity; you can simply decide what amount of income you want to earn based on your efforts. Also it gives you immense job satisfaction as you help people in terms of; family security, children’s education, marriage, retirement planning etc. Along with this LIC Agency gives you international recognition in terms of MDRT (www.mdrt.org).

Let’s understand the detail procedure about how to become an LIC Agent.

LIC’s Basic Structure:

To understand joining process you should first understand how LIC functions.

As an LIC Agent you need to deal with the branch offices of LIC. 99% of all the sales activity is done through all respective branch offices in LIC. Branch is the place where you as an LIC Agent need to get registered and be attached to in future.

As an LIC Agent for you development officer is the key figure. He is the person in branch offices who is responsible for recruitment of LIC Agent, their detail training and he guides the agent in the field with his experience. You can simple say for LIC Agent; Development Officer is the single point contact for all LIC related activity.

So to become an LIC Agent you need to contact a Development Officer. (www.startlicagency.com)

IRDA Process:
After meeting a Development Officer the first thing he will inform you is that about the IRDA Process. Insurance Regulatory Development Authority (IRDA) is the regulator for all insurance company and it has designed a standard process for becoming an insurance agent. Let’s understand the process in following manner:

Step 1. Eligibilty:

To become LIC Agent you need to be;
1.      Minimum Age 18years and above.
2.      Minimum H.S.C. or any 2 years full time diploma from recognized institutions after 10th std.


Step 2. IRDA Training:

Once you are eligible to take LIC Agency then you need to undergo compulsory 25 hours Pre-Recruitment Training as per syllabus prescribed by IRDA (www.irdaonline.org) and provided by individual insurance company.

Once you have submitted all documents with requisite fees you will be send to training by LIC. Now trainings are of 2 types Classroom Training or Online Training. As an applicant you have to decide what mode of training you want to undergo. The total duration of the training is 25 hours.


Step 3. IRDA Pre-Recruitment Exam:

Once you have successfully completed IRDA Training and are confident to appear for the exam, then you need to generate a batch id for IRDA exam, which will be generated by LIC. But you have to give a preferred date you want to appear for the exam to LIC. Then once batch id is generated you have to make online exam fee payment to NSE IT on www.nseitexams.com. Once you have made the payment you will receive a sms on your registered mobile number from NSE IT informing you about the exam date and time. Then you have to generate hall ticket from www.irdaonline.org  and carry the same with you at the time of the exam. Please note it is very important to compulsory to reach the exam centre on exact time or else you will be disqualified to appear for the exam.

 Again just remind you the exam will be of one hour and objective type pattern, you need to just select the right option and after completion of the paper once you submit you get your result immediately.

Once you have passed the exam you need to generate your result copy from www.irdaonline.org  just like you have generated your hall ticket. The result is valid for 1 year.

You have to finally submit the result copy to the Development Officer and he will submit the same to generate an Agent Code for you.

Registration Process.  
Now let’s see what documents and fees are required to become lic agent. Once you have decided to become LIC Agent, then you need to meet Development Officer in LIC’s branch office and he will help you start the registration process by giving  you a registration form, which you need to fill and attach a following documents:

List of Documents required to Become LIC Agent:
ü  4 Colored Photographs (White Background).
ü  Age Proof : Birth Certificate or Leaving Certificate or S.S.C. Board Certificate or School/ College Bonafide Certificate.
ü  Qualification Proof:  H.S.C. Marksheet or 2 years full time Diploma Certificate/ Marksheet + Graduation Certificates (Photocopies)
ü  Pan Card (Photocopy)
ü  Address Proof (Photocopy)
ü  Cancelled Cheque (For Commission Purpose)

Fees:
ü  Registration Fees : Rs 150/-
ü  Training Fees : Rs 200 (Online Training only, Classroom Training free)
ü  Material Charge : Rs 150/-
ü  IRDA Exam Fee : Rs 350/-

The most important point you should note here is you will be attached to the team of same development officer with whom you have registered and will be attached to the same branch office permanently.

This is how you become LIC Agent in LIC.

For further details or to join you can visit www.startlicagency.com or send your contact details below.

Do write us about how helpful the information was to you, on following mail id. nikhilesh.tawde@licindia.com

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