Life Insurance Corporation of India is an Indian statutory insurance and investment corporation. It is under the ownership of Ministry of Finance, Government of India.
The Life insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.
As of FY 20-21, Life Insurance Corporation of India had total life fund of 34,36,686 Crores. The total value of sold policies in the FY 20-21 is 28.62 crores. Life Insurance Corporation of India settled 2,29,15,000 crores claims in as per FY 20-21. It has 290 million policy holders.
The total number of agents on roll is 12 Lac as of March 2021. The total number of agents increased by 8% from 23 lack in March 2020.
Total Gross Income for the FY 20-21 6,82,205 Crores. Total Assets of Corporation is 38,04,610 Crores.
LIC is India’s most trusted insurance brand. As an agent you get liberty to be an entrepreneur, chose your own customer and make your own money without any capital investments. LIC takes care of your current and guarantees future income.
You can plan your income according to your ability.
LIC supports all phases of your business areas. It also encourages all its agents to achieve highest level of career success. LIC also bring new products. Not only that, LIC also gives awards to their agents for their performance, for this various competitions are held throughout the year. Based on achieving business level, an agent can become member of several societies, such as the TOT , COT, Corporate Club,, Galaxy (CM,ZM, DM, BM/DC Club Menber) and so-on. LIC allows best-performing agents to open offices as well as it also provides cost of running it.
Those who have worked for over three years and have meet the criteria, get attractive commissions and following facilities:
Pension by NPS facility
Housing loan facility.
Two-wheeler /Four wheelers for a Debt-free advances
Telephone Exp. Reimbursement
Group insurance/Group Mediclaim schemes
TOT, COT, MDRT, classifying pass the chance to travel abroad.
Chance to win prizes in various competitions.