All You Need to Know on How You Can Become a LIC Agent
Being a LIC agent is a job profile that can lead you to a life of financial independence and the option to be your own boss. Learning how to become a LIC agent can be easy and simple, but to become a good and effective agent can lead you to success. A good agent knows how to be outgoing, ambitious, able to decide his/her own working hours, be disciplined and motivated.
Becoming an agent means to become the backbone of the economy, as many people rely on your word and place their hard-earned money in your trust and care. You must know all the policies like the back of your hand and have the confidence to answer any questions your clients might have regarding rates and coverage. So if you are ready to take the plunge, here’s the step-by-step process of becoming a LIC agent.
Documents Required to Become an LIC Agent
Be prepared with all the necessary documents such as Educational Proof, Age Proof and Residential Proof. Given that the fees structure is nominal and affordable, anyone can opt to become a LIC agent. The fee structure is as follow :
- Registration – ₹150
- Online training – ₹300
- PRT exam study material – ₹100
- IRDA Exam fee – ₹525
Become an LIC Agent in 12 Steps
Below we have listed for you simple and easy steps to follow that can help you in becoming a LIC agent:
1. Proof of Age and Residence: The first step you need to follow is to obtain legit proof that you are 18 years of age or above along with the proof of your Indian Nationality. If you do not have a birth certificate, you can visit your nearby Municipal Corporation and apply for a new one with the necessary documents.
2. Proof of Education: You will need to have passed 10th Std and be able to provide the passing certificate as proof. In case you might have misplaced your certificate, you can always visit the school you attended and obtain a copy of your passing certificate to provide it for the next step in becoming an agent.
3. Provide your PAN card: You shall possess a PAN card and if not, you must apply and obtain one before you become an agent. You can easily apply for a PAN card online by submitting your government documents, proof of identity and address proof.
4. Meet with the Development Officer: once all your documents are in order, you can move on to the next step. You can easily locate online a local LIC branch near you and contact them to schedule an interview appointment for you with the Development Officer, who will assess your abilities and confirm your eligibility to become an agent.
5. First Impressions: A good first impression during the interview is of utmost importance and being well prepared can help you a long way. Be on time with all necessary documents along with you presenting yourself confidently while meeting all the requirements of the agency. Once you have been registered, your training will begin shortly at the agency centre.
6. Complete your training: You must complete your LIC training program at the agency training centre that prepares you for your final exam. The course can be completed from a classroom or online which is 25 hours long and covers all aspect of life insurance policies and business.
7. Prepare for the final step: the final step is to complete your training and take your final exam that will decide your fate. You can find books, study material and mock test online or tutors you can hire to help you be prepared for the final exam with full confidence. The more you prepare for your final exam the higher the chances of you scoring higher marks.
8. The IRDAI EXAM: This exam determines if you can become a LIC agent or not. If you do not succeed the first time, you can take the test multiple times online or in person. You must pass the exam with a 40% score to be eligible.
9. Become a Licensed Agent: You will now receive a letter of approval that officially states that you are now a licensed LIC agent. An appointment letter might be issued separately that will also contain your dates for meeting with your development officer who will determine your agency placement. The appointment letter will also contain your identity card, which is also your license and you must keep the card with you while visiting clients.
10. Learn the basics: You will be assigned a designated development officer who will guide and train you. Be courteous and open to learning new skills and become an excellent LIC agent.
11. Team Management: You are now a licensed agent who will be working with a group of co-workers under a branch manager, who will guide you along the way. This interview is important and you need to be prepared for it with full confidence as it determines your placement as a LIC agent along with your excellent exam score.
12. Step into the Field: The last but not the least step to become an agent is to step into the field of reality. Once you step out of your comfort zone, your peers and team members will guide you through every detail of the insurance business. You will have to deal with clients in the real world and put your training to practical use.
You will learn skills that will last you a lifetime while securing the financial needs of your clients and lifetime commission for you. From college students to business owners, housewives, doctors or lawyers anyone can become a LIC agent.