Managing people to succeed in today’s highly competitive global environment is important. They offer the key ingredients for making Human Resources an active contributor for their organizational success.
The areas which their virtual university focuses on are:
• HR Practices
• Organizational Behaviors
• People Management
• Performance Management
• Recruitment and Retention
• Training and Development
Simple step-by-step guide on how to become an LIC agent (Selection process of Agents)
12th standard pass
Age 18 and above tell
Contact your nearest Branch Office and meet the Development Officer there.
The Branch Manager (I/C) will conduct an interview, and if found suitable, you will be sent to training at Divisional/Agency Training Centre.
The training is for 100 hours and covers all aspects of Life Insurance Business.
After successful completion of training you will have sit for Pre-Licencing examination conducted by the Insurance Regulatory and Development Authority (IRDA).
After successful completion of the examination you will awarded a Licence by the IRDA to work as an insurance agent.
You will be appointed as an agent by the Branch Office and you will be a part of the team under your Development Officer.
The Development Officer will impart you field training and other valuable inputs which will help you in the market place.
Some Of The Qualities LIC seek Are:
• A master communicator
• A go-getter
• A graduate
Our agents go through both generic and specific, professional programs that help them remain well-informed and knowledgeable about the company’s products in the market. There is a further focus on soft skills such as communication, managing long-term relationships and selling skills, which are very relevant in a service-driven industry like life insurance.
State of the art infrastructure training facilities coupled with an excellent faculty, guarantee an exceptional learning environment. For agents who might be occupied with their daily business/professional routines.
A 17-18 day training schedule covers the mandatory IRDA training requirements and LIC product-training module. Revision session ensure that the candidates thoroughly understand the course contents and are well prepared for the licensing examination. Theoretical training is interspersed with practical appointment settings with potential customers, giving agents a feel of how their business will work from the very first day. All through, the Development Officer and the management provide continuous support to the advisors in achieving independence towards garnering business.
Career development is emphasized upon from the very day the agent joins the system. Though individual meetings with his or her Development Officer, the agent can discuss various issues related to business development and career enhancement. Expectations from the organization in terms of chalking a career in the insurance industry are also discussed.
Absorption into the management is another career enhancement option provided at LIC. This program helps agents build a full time career as a Development Officer in the organization, offering great potential for managing a team of agents and personal development.
REWARDS AND RECOGNITION
LIC agents are constantly recognized and rewarded for their performance. Numerous competitions all year round promote healthy competition amongst agents and recognition for their efforts. Depending on the level of business the agent achieves in a year, he or she can become a member of various clubs such as the Corporate Club, the Chairman’s club, etc. Each of these clubs have specific performance criteria for qualification and members of these clubs are entitled to attend seminars held at exotic international and domestic locations each year. Advisors can also qualify for the renowned MDRT (Million Dollar Round Table), an exclusive international insurance advisors club.
BENEFITS THAT LIC OFFERS TO ITS AGENTS
1. Rewarding Career
You will help people realise their dreams by fulfilling their financial goals. The difference you make to their lives is more rewarding and satisfying than you could ever imagine.
2. A Successful Team
By joining us, you will be a part of the country's finest team of life insurance Agents.
Last year, we contributed 1317 members to the Million Dollar Round Table: a global forum that salutes the world's most successful Insurance Agents.
3. Attractive Remuneration
We offer one of the best remuneration systems in the industry that not only takes care of your current earnings, but also guarantees an earning for the future. What's more, you can set your own income targets with a potential to earn as much as you want for the rest of your life.
As an Agent, you will be a true entrepreneur. You have the freedom to be your own boss: work for yourself, choose your own clients and make your own money. All of this, without your having to make any initial capital investment.
5. World-Class Training
We provide you with the best-in-class training systems, since that is what differentiates LIC Agent from the rest. Even if you don't have previous experience in selling, our multi-dimensional training programme conducted by our qualified in-house training personnel, will make you a specialist in life insurance sales.
6. Commitment To Career Agency System
Our commitment to the Career Agency System means that, we support you and your efforts not just today, but at every stage of your business. We believe in encouraging our Agents to strive towards the highest levels of success, throughout their careers. In fact, depending on your performance, we also offer a management career option with the company.
7. Infrastructure Support
We have invested in creating a state-of-the-art infrastructure at each of our Branch Offices. You will have access to the necessary tools, technology and people support that will enable you to build a profitable long-term business.
8. Full Range Of Products And Services
You can offer your customers over 50 product combinations of our unique Products and Riders, to help them meet all their financial goals. In order to give you a greater competitive edge, we are also continuously working on newer and more innovative products.
9. Sales And Marketing Support
We support our Agents with innovative sales and marketing tools. The Sales, Promotions and Marketing collaterals that we provide will help you take your business to new heights.
10. Financial Strength
LIC offers you and your customer unmatched financial strength and solidity.
Educational Qualifications: For Employees category and Agents category in both Urban and Rural area
Applicant shall possess the bachelor’s degree of a university in India estd under a statute or a foreign university approved for the purpose or the Fellowship of Insurance Institute of India, Mumbai
An applicant from others category for recruitment as an Apprentice Development Officer in both Urban and Rural area shall possess the bachelor’s degree of a university in India established under a statute or a foreign university approved for the purpose or the Fellowship of Insurance Institute of India, Mumbai
Preference may be given to those applicants who possess master’s degree in business administration in Marketing or Post Graduate Diploma in Marketing from a university in India estd under statute or by an Institute approved by All India Council for Technical Education or a recognized Institution
Age Limit: The applicant shall have completed 21 years of age (in completed years) and not more than 30 years of age (in completed years) as on 01st November, 2012
Age Limit Relaxation: SC/ST- 35 years; OBC- 33 years; Ex-serviceman, increased by the number of years of service in the armed forces subject to maximum age of 45 years for OBC, 47 years for SC/ST, 42 years for general
Experience: The applicant should have the requisite experience as on 01st November, 2012
LIC Employees: Not less than 3 years of service after confirmation in Class III post
LIC Agents (Urban Area): Not less than 5 years as an agent and has brought a net first years premium income of not less than Rs 5,00,000/- during the immediately preceding 5 agency years and a net first year premium income of not less than Rs 1,00,000/- on 50 lives in each of any 3 of these agency years
LIC Agent (Rural Area): Not less than 4 years as an agent and has brought a net first years premium income of not less than Rs 1,00,000/- on 50 lives per year in any 3 of the immediately preceding 4 agency years
Other Candidates: Preference would be given to candidates who have at least 2 years experience in life insurance industry
Selection will be made on the basis of on line test followed by an interview of candidates who qualify in the on-line test
On-line Test: On-line test will be of objective type, multiple choice of two hours duration comprising of the following two papers
1. Test of Reasoning and Numerical Ability
2. General Knowledge, Current Affairs and English Language with Special emphasis on Grammar and Vocabulary
Candidate must pass in each paper separately and should also obtain minimum marks in the aggregate of the two papers to qualify for the interview
The minimum marks to be obtained in each paper and in the aggregate shall be decided by LIC of India
The marks obtained by the candidate in each paper and in the aggregate shall be arrived at after deduction of the marks for wrong answers
LIC of India reserves the right to fix the minimum eligibility standard in order to restrict the number of candidates to be called for the on-line test and/or interview, commensurate with number of vacancies
Decision of the corporation in this regard shall be final and binding on the candidates
No correspondence will be entertained in this regard
On-line test will be held at the following centres, tentatively on 02nd -03rd February, 2013, Saturday/Sunday
Interview: Successful candidate will be eligible to be called for an Interview
Candidate who does not obtain the minimum qualifying marks in the interview shall be disqualified from further selection
Medical Examination: Selected candidate will be appointed as Apprentice Development Officer subject to him/her being found medically fit by the medical examiner authorized by LIC for the purpose
Pre-exam Training: There is a provision for pre-exam training for SC/ST candidates
SC/ST candidates who wish to avail the benefit of pre-exam training should exercise the option while registering on-line application
Those SC/ST candidates who have opted for pre-exam training while registering on-line application may contact Sr Divisional Managear of Life Insurance Corporation of India of that Divisional Office to which the candidate has applied in the second week of January, 2013
Guarantee Bond: Candidates will be required to give an undertaking to serve the corporation for a minimum period of four years from the date of joining (including apprenticeship period) failing which he/she will be liable to pay liquidated damages of Rs 25,000/- (Rs rupees twenty five Thousand only) to the corporation
The candidate will have to submit an Indemnity Bond of Rs 25,000/- (R twenty five thousand only) duly stamped and executed by a surety of sound financial standing and not related to the candidate
The stamp value of the bond will be as applicable to the state in which the bond is executed