COMMISSION OF LIC AGENT
LIC agents can earn unlimited since there is no specified salary. The Commission of the LIC agent is fixed in every policy. LIC offers 25% to 35% commission on the policy premium for the first year, then 7.5% for 2nd & the 3rd Year + 5% till the policy maturity. The Commission of LIC Agent depends on the policy they sell and can earn more than their capacity. Apart from this, LIC Agents also get some allowances and benefits from LIC Club Membership, when they have fulfilled the condition of club membership.
COMMISSION OF LIC AGENT IN DETAILS
LIC agent is an approved deals advertising specialist named by LIC of India for their arrangements and strategies. LIC agents procure commissions on their deals. There are various different advantages likewise given to a LIC agent. A LIC Advisor is somebody utilized by LIC to offer their arrangements to the overall crowded, which means they are paid for each approach you purchase from them, well the installment they get is structured a commission which they get after each premium paid by the particular purchaser of the strategy and level of the commission may shift with the sort of strategy sold.
- First-year commission:- 35% depending upon the type & term of the policy.
- Bonus commission:- 40% of first year commission
- 2nd & 3rd year of policy:- 7.5 %
- 4th year onwards:- 5%
- Below mention an Example of your expected commission of LIC Insurance Advisor earnings and Mutual fund Advisor earnings
Though, Agents earn the commission from the policies the sell. The Commission of LIC agents depends on how much policy they sell. LIC offers 25% to 35% commission on the policy premium for the 1st year, then 7.5% for the next 2nd & 3rd, 4th year onwards 5% till the end of the premium. LIC agent can earn unlimited since there is no specified salary. They get a commission from the policy they sell and they can earn more than their capacity. Apart from this, LIC agent also get some allowance and benefits from LIC Club membership when they have fulfilled the conditions of Clib Membership.