Become an LIC Agent

The Life Insurance Corporation of India (LIC) was the first life insurance company, and continues to remain the first choice for many people purchasing life insurance. The backbone of the company are its agents, who work to find the best rates and coverage for their clients. Being an LIC agent can be a rewarding career, where you can be your own boss, and there is no limit to the amount of money you can make on commission. To become an LIC agent, you must first pass an examination to receive your license, and be assigned to a branch office for field training.

Steps

Meeting the Eligibility Requirements

1. Obtain proof that you're at least 18 years of age and an Indian citizen. You'll need to be at least 18 years old and a citizen of India to become an LIC agent. If you were born before July 1, 1987, the only proof of Indian citizenship that you need is your birth certificate. If you were born after July 1987, you can prove your citizenship with your birth certificate and a copy of one of your parent’s birth certificate to prove that at least one of your parents were Indian citizens. If you were born after December 3, 2004, you will need your birth certificate and the birth certificates of both of your parents to prove that both of them were Indian citizens.
   • If you need to get a new copy of your birth certificate, you can get one from your nearby Municipal Corporation. You will need the following documents to apply for a new birth certificate: ID proof like a PAN card, Ration Card, Driving License, Aadhar Card or Voter ID, proof of address like an electricity or water bill, a photo to be used on your application form, and an affidavit of your mother, father, or other close relative swearing the place of your birth, the date, the year, and the time of birth.
2. Have your Secondary School Certificate. Another requirement to become an LIC agent is to have passed your 10th Board Exam. You will need to have your certificate showing that you completed and passed the exam. If you do not have a copy of your certificate, you can contact the school you attended and where you took your exam for a copy.
3. Apply for a PAN card. If you do not yet have a Permanent Account Number (PAN), you need to apply for one before you become an LIC agent. Your PAN card lists your ten-digit number that registers you with the Indian Income Tax Department. It also serves as a document that can provide proof of identification.
   • In order to apply for a PAN card, you will need to complete government forms and submit a proof of identity, and proof of address.
   • You can apply for a PAN card online.

Preparing for the LIC Exam

1. Contact your nearest LIC branch office to schedule an interview. Once you have your documents in order, you can contact a local LIC branch to schedule an appointment to meet with a development officer. They will need to conduct an interview with you in order to confirm your eligibility to be an agent. You can also confirm what documents you will need to bring with you when you schedule your interview.
   • If you aren’t sure where a branch near you is located, you can use the branch locator online.
2. Go to your interview with the development officer. The interview is the first step to becoming an LIC agent. First impressions are important, so be sure to prepare for your interview. Bring any required documents with you and arrive on time. If you meet the requirements and the interview goes well, they will then register you for a training program at an agency center.
3. Complete the LIC training program. Before you can become an LIC agent, you must complete the required training and certification. LIC of India has their own training program that they conduct at agency training centers to prepare you for your final exam. The program takes a total of 25 hours of classroom time to complete and covers all aspects of the life insurance business.
   • There are also online training courses that you can enroll in.
   • You will register for your exam while you’re in the training program.
4. Study and prepare for the final exam. The exam you will take after you complete your training will determine if you can become an LIC agent, so you should prepare for it as much as possible. You can find books that will help you study for the exam, and even have practice tests so you’ll be ready to face the test with confidence. Good marks on the exam can help determine your placement as an agent, so be sure to study for your test!
   • Many branches will provide a free LIC preparation book you can use.
   • You can use online materials to help you prepare for the exam as well. There are several free videos on YouTube that can give you some helpful coaching for the test.
   • There are also professional tutors you can hire to prepare you for the exam.
5. Take the IRDAI exam. The Insurance Regulatory and Development Authority of India (IRDAI) requires you to pass an examination to determine if you can become an LIC agent. You must pass the exam with at least a 40% score to be eligible. But there is no limit on how many times you can take the test, so if you do not pass the first time, you can prepare and take the test again.
   • This exam will determine if you can become an LIC agent, so be ready to take the test.
   • You can also take the exam online. Ask your development officer, one of your trainers at the agency center, or go online for more information on taking the IRDAI exam remotely.

Getting Issued a License

1. Receive your appointment letter with your agency code. After you pass your examination, you will be sent an appointment letter. The letter will contain information about your appointment to meet with a development officer to determine your agency placement. It will also contain your identity card with your agency code, which serves as your license and identifies you as a LIC agent.
   • Your identity card is very important. Be sure to keep it somewhere safe, with your other important documents.
2. Contact your assigned development officer. Your appointment letter will tell you who your assigned development officer is. Once you have that information, you should contact them to confirm your interview and to see if there are any documents you will need to bring with you. Your officer will help you learn the ropes of being an agent, so be professional and courteous.
3. Attend the interview with your development officer. Now that you’re a licensed LIC agent, your final training will come from your development officer. Be sure to arrive on time and prepared for your appointment with them. After your interview, you will be assigned to a team and will work under the direction of a branch manager. In addition to your score on your exam, your interview plays an important part in deciding where you will be assigned as an LIC agent.
   • Your development officer manages a team of agents, who will become your new colleagues and co-workers, and can help you get started as an agent.
4. Complete your field training with your development officer. The final stage of becoming an LIC agent is learning the realities of the business. Your development officer and the other agents on your team will show you the ins and outs of being an agent. They will take you out in the field to get you comfortable being an agent and provide other valuable knowledge to help you do well in the marketplace.

References

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