Other Benefits

There are so many benefits other than club member benefits to LIC Agents.

1). Gratuity: You must have not seen any business which guarantees gratuity payment. But in this profession LIC takes care of that, as there a guaranteed gratuity payable to every agent who have completed 15 years of service and completed 60 years of age. At present, the amount of Gratuity is Rs 3,00,000/- which going to increase in near future.

2). Group insurance: LIC is an organization to provide insurance cover to its customers. So, how is it possible that LIC wouldn't take care of insurance coverage of its agent...??

Insurance coverage of LIC Agent :

Service in Agency Years Life Cover
upto 3 agency years  1 lac
above 3 year-upto 5 years 3 lacs
above 5 years- upto 10 years 5lacs
above 10 agency years 10 lacs

3). Pension: Swavalambhan / Samvardhan Pension Scheme

An exclusive contributory Pension fund is maintained by LIC of India for our Agents.. 

4). Marriage Advance :

LIC provides marriage advance to its agents for marriage of self, son and daughter with lower interest rate which is repayable in 36 monthly installments. (no security, no surety)

5). Other Benefits :

Hospital medical

for self / family members

last year renewal comm. ( or ) actual repay in 36 installments

rate of interest

9% p.a.

Domicilliary medical expense

10% of last year renewal comm.

Or 

Rs 25000

repay in 36 installments

rate of interest

9% p.a.

family function

last renewal comm. 

Or 

Rs 25000

repay in 36 installments

rate of interest

9% p.a.

marriage expenses for self/ family

( 3 times)

Last year renewal commission repay in 36 installments

rate of interest

9% p.a.

Car repairs

Rs. 28,000

Or

last year renewal commission

Repay in 36 installments rate of interest 9% p.a.

Two-wheeler

Repairs

Rs. 15600 

Or

last year renewal commission

Repay in 36 installments

Rate of interest 

9% p.a.

Housing Repair Last year renewal commission Repay in 60 installments rate of interest 9%  p.a.

Flood (or )

Drought Advance

Amount fixed by LIC Repay in 60 installments  

Business Development Training

Rs. 7500 Repay in 12 installments