LIC agent is the person who provides advice on Life Insurance Planning to people to protect their family from unexpected events of death, disability and retirement of the bread winner. It is a noble profession indeed.
LIC agent also contributes to economic development of the country. As the money collected towards life insurance premium goes towards Nation Building Activities e.g: Roads, Railways, Ports, Bridges, Water supply, Electricity, Housing etc.
LIC agency as a career has a tremendous potential. Life insurance sector was opened for private companies in the year 2000. As on 31/03/2012 there were 24 life insurance companies. LIC’s market share on new business premium as on 31/03/2012 stood at 71.36%, other 23 companies have combine market share of just 28.64%. On number of policies LIC’s market share is 80.90%.
During the last 10 years the new business premium income of life insurance sector has increased from Rs.9,707 crores in the year 2000-2001 to Rs.1,26,381 crores in the year 2010-2011 i.e compounded annual growth rate of 29.26%. As per report of BCG (Boston consulting group) and FICCI of April 2011 “India Insurance: Turning 10, Going on 20”, it is estimated that life insurance sector will grow at the rate of 20% to 22% during the next 10 years i.e the estimated premium during the year 2020-2021 will be in the range of Rs.15 lakh crores to Rs.20 lakhs crores.
At present India is ranked 9th in global life insurance industry with market share of 2.69%. By the year 2020 it is likely to be one of top three life insurance markets behind China and USA, it will overtake the Japan, British, France and Germany markets.
India has about 40% of young population at present i.e. age group 20 to 49 years. This is expected to grow to 45% by the year 2020. The income level of this group is rising and with increasing life expectancy and concept of nuclear family the need for life insurance will also increase.
The level of education and general awareness of about life Insurance is increasing day by day. Customers prefer to buy insurance from people who give them correct advice and provide excellent after sales service. Such types of agents are very few in the market at present. Lot of part time agents are leaving this industry due to regulatory changes. This has already created the huge demand for the Professional life insurance advisors.
Top 10 LIC agents earn between Rs.3 crores to Rs.4 crores per annum. The average gross income of top 10% of LIC agents is Rs.10 lakhs per annum.
You will be trained in such a way that you will be among top 10% of agents within 3 years’ time and your earnings will be minimum Rs-1,00,000 per month, the only pre-requisites are Passion and Hard work.
Over and above the money, you will get immense job satisfaction by helping people in ensuring their future financial security. By doing this you gain prestige in the society. Moreover you can pass on this business to your future generations as a legacy.
Welcome to the world of unlimited opportunities, visit our website www.licguru.in or call on 9869624991 to know more about this profession and also apply online. Your success is our commitment.