LIFE INSURNACE
CORPORATION OF INDIA
Welcome you
To the profession of
LIFE INSURANCE ADVISOR
of
LIFE INSURANCE CORPORATION OF INDIA
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Life Insurance Agency is considered
as the highest paid Profession in the
world.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Earning Opportunities
There is no restriction on the
amount of
Money that one can earn
Even sky is not the limit
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Advantages over Other professions
 Start Business of your own without Capital
Investment.
 Freedom to set your own working hours.
 To be in a Business that gets easier & less
demanding as you grow old, compared to
mounting pressures encountered in other
businesses.
 No Compulsory retirement.
 Noble profession opens doors for social service
 Within a short span of time standard of living
could be improved.
 A tool in Nation building activities as money
mobilised is used for people’s welfare.
Commitment + Time Devoted = Results
In India only 26% of Insurable
population is insured till date.
74%
Balance 74% of population
is yet to be insured.
26%
There is a vast untapped
market to explore
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
 Only 20% of total agency force are working in a
professional capacity.
 These 20% account for more than 80% of total
Life Insurance Business.
20%
80%
Be “ONE” among the
“PROFESSIONALS”
And earn your fortune
20% Professional
agents
80% Business
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Growth
Opportunities
Life Insurance Market In India is
projected to grow from Rs. 1,09,000/crores to Rs.2,60,000/- crores within
5 years time.
Be a part of this Growing Industry.
Be a part of
LIFE INSURANCE CORPORATION OF INDIA
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
People from all walks of life have entered this
profession
There are:
•Doctors
•Engineers
•Chartered Accountants
•Share brokers
•Lawyers
•Film personalities
•CEOs
•Businessmen
•Housewives
•Students & many more
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Just ask your self …… if…..
• Smt.Ritu Nandu (Raj Kapoor’s Daughter)
• Sri.Abhishek Bachan ( Cine artist)
• Smt.Ragini Yadav (Daughter of Lalu Prasad Yadav)
• Sri. O Madhavan (F/o. Mukesh)
•Sri C K Padmanabhan ( Politician)
•Sri.A.K.Antony
Were or are agents of this Corporation then
What about you?
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
SUPPORT FROM OUTSIDE
 We will provide you with world class training and
support you need to make your carrier a success.
Regular counseling & monitoring.
Strong back Office support.
50 powerful products to cater to the needs of every
individual.
 Encouragements through various Competitions &
Rewards.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Attractive Commission Rates
On any standard policy you shall be paid commission as per the following
rates.
• Up to 25% of
year
• 40% Bonus Commission on the 1st year
commission
• Up to 7.5% of 2nd & 3rd year premium.
• Up to 5% thereafter till the policy continues.
1st
Every time a
Policy Holder
pays his
instalment
premium , the
Agent receives
his
commission
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Magic of Renewal Commission
CASH JUST FLOWS
Bus
ines
s in
Crs
Prm.
income
Y
r
1
2
3
4
5
6
7
8
9
10
1
1000000
1
350000
75000
75000
50000
50000
50000
50000
50000
50000
50000
2
1500000
2
525000
112500
112500
75000
75000
75000
75000
75000
75000
3
2000000
3
700000
150000
150000
150000
150000
150000
150000
150000
4
2500000
4
875000
187500
187500
125000
125000
125000
125000
5
3000000
5
1050000
225000
225000
150000
150000
150000
6
3500000
6
1225000
262500
262500
175000
175000
7
4000000
7
1400000
300000
300000
300000
8
4500000
8
1575000
337500
337500
9
5000000
9
1750000
375000
10
1000000
0
10
Commission
earned at the
end of each
year
3500000
350000
600000
887500
1187500
1512500
1862500
2237500
2637500
3062500
5187500
You earn your own Pension
As years pass, the Renewal Commission starts building up
thereby assuring a pension for the next 20 to 25 years, not
only for you but also for your heirs.
Also Swavalamban & Samvardhan Schemes are available.
WE
INSURE
and also
ASSURE
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
This is the only profession where you are entitled for
GRATUITY
(Proportionate to your commission earned) if
He has continuously worked as an Agent for 15 or more
Qualifying Years or attained 60 years of age whichever is
later
Maximum amount of Gratuity admissible is Rs. 2,00,000/-
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Club Membership
Club membership is the recognition given for outstanding performance to
agents.
Corporate Club
Chairman’s
club
Zonal
Manager’s
Club
Distinguished
club
Branch
Manager’s
club
Divisional
Manager’s
club
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Fringe Benefits of
Club Membership
 Interest free advance for 2 wheeler and 4
wheelers.
 Interest free advance for purchase of Personal
Computer, Laptop, Furniture etc.
 Housing loan @ 5% p.a
Free term Insurance up to Rs.1.5 lacs & 50%
concession on group medi claim.
 Reimbursement of expenses on stationery ,
Office, Sales promotion & Gift items.
 And many more. Career path DO, CLIA etc.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
An Agent will get International Recognition by
Qualifying for
MDRT ( Million Dollar Round Table)
Qualifying Conditions
Type of
Performance
MDRT
Commission
First Year
Prm.
Court of the
table
Top of the table
Rs. 8,45,200
Rs. 24,55,800
Rs. 49,11,600
Rs. 32,74,400
Rs. 98,23,200
Rs. 1,96,46,400
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Benefits by
qualifying for MDRT
 Enhancement
of selling skills
 Increase in production directly resulting in more
commission
 Development of leadership qualities
 Sense of achievement
 Recognition as top performers
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Qualities you need to possess
♦ Strong determination, Self confidence
♦Good communication skills
♦Willingness to share
♦ Thirst for Knowledge
♦ Quest for Self-Improvement
♦ Eagerness to build relationships
♦ Power to grab opportunities
♦ Time Management
♦ Hard working
♦ Positive attitude, Consistency & Perseverance
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Your Role
To Identify Various Customer needs
Suggest Suitable Life Insurance Plans
from 50 powerful plans to satisfy those
Needs.
Encourage them to buy products
PROVIDE EFFICIENT AFTER SALES
SERVICE.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
T
h
e
r
e
There are only 4 Countries* in the
world whose population is larger
than LIC’s Customer Base
*LIC has more than 30 crores Customers; only
China, USA, Indonesia and of course, India
have population of more than 30 crores
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
All India Performance as at
31.3.2012
 Total Income
: Rs. 2,87,315.38 crores
Total Premium Income
: Rs. 2,02,802.90 crores
Total Life Fund
: Rs. 12,83,990.72 crores
 Total Assets
: Rs. 14,17,891.79 crores
 Total No. of Claims Paid
: 185 lakhs
 Amount of Claims Paid
: Rs. 66,022.82 crores
 93.34% of Maturity Claims are settled on or before
Date of maturity.
 O/s Claims Ratio (MC+ SB) : 0.5%
 O/s Deaths Claims Ratio
: 1.22%
LIC settles 64800 Claims every day ie., 3 Claims per second
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Policies guaranteed by Central
Government
Section 37 of Life Insurance Corporation Act 1956
The Sum Assured by all Policies issued by the Corporation
Including any bonuses declared in respect thereof, and subject
to the provisions contained in section 14, the amounts assured
by all policies issued by any insurer the liabilities under which
have vested in the Corporation under this act, and all bonuses
declared in respect thereof, whether before or after the appointed
day, shall be guaranteed as to payment in cash by
the Central Government.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Our Organisational Strength
Central Office
EAST
(Kolkata)
N.EAST
(PATNA)
WEST
(MUMBAI)
NORTH
(DELHI)
SOUTH
CENTRAL
(CHENNAI) (BHOPAL)
N.CENTRAL
(KANPUR)
ALL INDIA
ZONES : 8 DIVISIONS : 113 BRANCHES : 2048 SATELLITE OFFICES : 1202
STAFF : More than 1.19 lakhs AGENTS: 12.78 lakhs
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
S.CENTRAL
HYDERABAD
We are No.1 in India
For generating the highest amount of
Net profit (Surplus) in India
For being the highest Net worth in India
We are 2nd largest I.T. user
Company in India
LIC – The Pride of India
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
LIC has crossed
12,00,000 Crores Life Fund
LIC’S Growth Chart
25.78
23.39
21.26
27.83 28.6
1283990
29.16
1151201
999518
809525
18.65
16.78
686616
572603
385791
463147
'04- '05- '06- '07- '08- '09- '10- '1105 06 07 08 09 10 11 12
'04- '05- '06- '07- '08- '09- '10- '1105 06 07 08 09 10 11 12
Number of Policies
Life Fund in Crores
Source : LIC Balance Sheet
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
We are No.1 in World
• Highest number of Policies sold in a year
• Number of claims settled in a year
• To service Highest number of Policies –
(Including Group Policies)
More than 39 Crores
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Nation Building Activities of LIC
A Life Insurance Agent renders a Social Service to the
families as well as generates funds for ……….
LIC’s INVESTMENT AS AT
31.3.2012
Some Highlights
(Rs.
in crores)
Central Govt.Securities
4,41,760
State Govt.Securities
2,13,913
Power
86,880
Housing
41,067
Water Supply/Irrigation/Sewerage
3,774
Road, Port, Bridges & railways
10,494
Others
21,947
Total
8,19,835
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Be Proud to be associated with the only
Insurance Company
with Maximum Awards
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Be Proud to be associated with the only
Insurance Company
with Maximum Awards
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Be Proud to be associated with the only
Insurance Company
with Maximum Awards
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Performance Results of Life Insurance
Companies (First Year Premium)
2011-2012
NO
Company Name
2011-12(Crs)
2010-11(Crs)
Difference %
Market Share
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Performance Results of Life Insurance
Companies (Number of Policies)
2011-2012
NO
Company Name
2011-12(Crs)
2010-11(Crs)
Difference %
Market Share
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Sri D K Mehrotra , Chairman of LIC Of India handing over a
cheque for ` 1137,99,41,404 – the dividend by LIC for the
Fin. year 2010-11 to the Union Government.
LIC generated a surplus of ` 25624.58 Cr. For the
Fin.Year 2011-12. Share to Govt .` 1281.23 Cr., Bonus to
Policy Holders ` 24343.35 Crores.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Performance of LIC vs Private Insurers
PAID UP CAPITAL – LIFE INSURERS
Insurer
31st March 2010
Additions in
2010-11
31st March 2011
Private
Sector
210014.99 Crs.
2641.86
23661.85 Crs.
LIC
Generated surplus of Rs. 22752.34 crores as at
31st March 2011.
The cumulative losses of the Life Insurance industry as at 31st
March,2011 stood at Rs. 20,569 Crores
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
INDIVIDUAL DEATH CLAIMS :
LIFE INSURERS (2010-11)
(Figures in per cent of Policies)
Claims
pending at
the end of
year
Total
Claims
Claims
Paid
Claims
repudiated
Claims
written
back
Private
100
86.04
8.90
0.05
5.01
LIC
100
97.03
1.00
0.51
1.46
Total
100
95.58
2.04
0.45
1.93
Insurer
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
The Procedure to become a
Life Insurance Agent
Minimum Age : 18 Yrs.
 Qualification
:
12th Pass ( Where population is >5000 ) ,
10th pass ( where population is below 5000)
 Formal training for a period of 50 hours.
 Qualifying in the examination conducted by
Insurance Institute of India.
Field training by Development Officer.
 Personal Interview
Issue of Licence by IRDA.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
50 hrs
Training & its Benefits
* Effective selling skills.
* Innovative marketing strategies.
* Customised training
* Goal Oriented approach.
* Through knowledge of products.
* Enhanced professionalism
* Ability to build long term Customer Relations.
* Certificate issued by the Insurance Institute of India.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Coming ………. .. Working……Staying
Coming together
is beginning
Working together
is progress
Staying together
is Success
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
TEAM WORK
TOGETHER
EACH ONE OF US
ACHIEVE MORE
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION