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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 INSURNACE CORPORATION OF INDIA
Life Insurance Agency is considered as the highest paid Profession in the world.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Earning OpportunitiesThere 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.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Commitment + Time Devoted = Results
In India only 26% of Insurable population is insured till date.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
74%
26%Bala
Balance 74% of population is yet to be insured.
There is a vast untapped market to explore
Only 20% of total agency force are working in a professional capacity.
These 20% account for more than 80% of total Life Insurance Business.
80%80%
20%
20% Professional agents
80% Business
Be “ONE” among the
“PROFESSIONALS”
And earn your fortune
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Growth Opportunities
Life Insurance Market In India is projected to grow from ` 1,09,000/- crores to `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
•Doctors
•Engineers
•Chartered Accountants
•Share brokers
•Lawyers
•Film personalities
•CEOs
•Businessmen
•Housewives
•Students & many more
There are:
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
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.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?
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 attractive commissions
On the premium you get.
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Magic of Renewal CommissionCASH JUST FLOWS
Business in Crs
Prm income
Yr
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 10000000
10 3500000
Commission earned at the end of each year
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 you a pension for the next 20 to 25 years &
for your generations to come.
Also Svavalamban & 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 ` 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.
Distinguished club
Branch Manager’s club
Divisional Manager’s club
Zonal Manager’s Club
Chairman’s club
Corporate ClubYour path to
the
TOP
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 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 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 Court of the table
Top of the table
Commission ` 8,18,600 ` 24,55,800 ` 49,11,600
First Year Prm. ` 32,74,400 ` 98,23,200 ` 1,96,46,400
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Benefits by qualifying for MDRT
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Enhancement of selling skills
Increase in production directly resulting in more commission
Development of leadership qualities
Sense of achievement
Recognition as top performers
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
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.
Your Role
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
There
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 : ` 2,87,315.38 croresTotal Premium Income : ` 2,02,802.90 croresTotal Life Fund : ` 12,83,990.72 crores Total Assets : ` 14,17,891.79 crores Total No. of Claims Paid : 185 lakhs Amount of Claims Paid : ` 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%
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
LIC settles 64800 Claims every day ie., 3 Claims per second
Policies to be guaranteed by Central Government
The Sum Assured by all Policies issued by the CorporationIncluding any bonuses declared in respect thereof, and subjectto 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.
Section 37 of Life Insurance Corporation Act 1956
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Our Organisational Strength
Central Office
EAST
(Kolkata)
N.EAST(PATNA)
WEST(MUMBAI)
NORTH(DELHI)
SOUTH(CHENNAI)
CENTRAL(BHOPAL)
N.CENTRAL(KANPUR)
S.CENTRALHYDERABAD
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
We are No.1 in Company 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
16.7818.65
21.2623.39
25.7827.83 28.629.16
'04-05
'05-06
'06-07
'07-08
'08-09
'09-10
'10-11
'11-12
385791463147
572603686616
809525
999518 11512011283990
'04-05
'05-06
'06-07
'07-08
'08-09
'09-10
'10-11
'11-12
Source : LIC Balance Sheet
LIC has crossed
12,00,000 Crores Life FundLIC’S Growth Chart
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
A Life Insurance Agent renders a Social Service to the
families as well as generates funds for ……….
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
LIC’s INVESTMENT AS AT 31.3.2012
Some Highlights (` in crores)
Nation Building Activities of LIC
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
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
NO Company Name 2011-12(Crs) 2010-11(Crs) Difference % Market Share
Performance Results of Life Insurance Companies (First Year Premium)
2011-2012
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
NO Company Name 2011-12(Crs) 2010-11(Crs) Difference % Market Share
Performance Results of Life Insurance
Companies (Number of Policies)2011-2012
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
Insurer 31st March 2010 Additions in 2010-11
31st March 2011
LIC Generated surplus of ` 22752.34 crores as at 31st March 2011.
Private Sector
210014.99 Crs. 2641.86 23661.85 Crs.
The cumulative losses of the Life Insurance industry as at 31st March,2011 stood at ` 20,569 crores
Performance of LIC vs Private Insurers
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
InsurerTotal
Claims
Claims
Paid
Claims repudia
ted
Claims written back
Claims pending
at the end of year
Break up of claims pending -duration wise (Policies)
≤ 3 months
> 3 to ≤ 6 months
>6 to ≤12 months
> 12 months
Private 10086.0
4 8.90 0.05 5.01 77.30 9.57 4.54 8.59
LIC 10097.0
3 1.00 0.51 1.46 36.6025.1
4 24.85 13.40
Total 10095.5
8 2.04 0.45 1.93 50.5119.8
2 17.91 11.76
INDIVIDUAL DEATH CLAIMS : LIFE INSURERS (2010-11)
(Figures in per cent of Policies)
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.
50 hrs
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
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 in 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
PROCESS You need to undergo 50 hours IRDA prescribed online training
- costs 500/-
You need to pass IRDA Online test-objective multiple choice
type, 1 hour duration. 50% is the minimum pass marks
required- u need to pay 350 online while scheduling the test
IRDA licensing after passing the test. DD for 250/-
The entire process takes 2 to 4 weeks time and total
investment would be 1100/-
IN TRUE SPIRIT OF SERVING THE PEOPLE AND NATION
Contact: Ajay Gupta
Development Officer, LIC of India.
Mobile:9845136164
Website: www.licajaygupta.com