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Lady Career Agents Scheme Initiative of LIC of India PDF

LIC of India has launched a stipendiary scheme for women to work as insurance agents, requiring candidates to be Indian female citizens aged 18 and above with a minimum education of 10th standard. The program offers a structured appointment process, a stipend that decreases over three years, and a commission structure that includes bonuses and renewal commissions. This initiative aims to provide flexible income opportunities and career growth potential in the insurance sector.

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Dhaval Kotak
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104 views11 pages

Lady Career Agents Scheme Initiative of LIC of India PDF

LIC of India has launched a stipendiary scheme for women to work as insurance agents, requiring candidates to be Indian female citizens aged 18 and above with a minimum education of 10th standard. The program offers a structured appointment process, a stipend that decreases over three years, and a commission structure that includes bonuses and renewal commissions. This initiative aims to provide flexible income opportunities and career growth potential in the insurance sector.

Uploaded by

Dhaval Kotak
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Lady Career Agents

Scheme initiative of
LIC of india
LIC introduces a stipendiary scheme for ladies to work as insurance
agents. This program offers a unique opportunity for women to build a
career in insurance sales.

by Samir kotak Chartered Financial advisor


223, 2nd flr nandgoapl ind estate B.S road dadar west
Mumbai mobile no-9322271758
office -022-40048113/40048110
www.samirkotak.in/LICadvisor.org
Eligibility Criteria

1 Age and Education


Indian female citizens, 18 years and above, who have passed
10th standard.

2 IRDA Qualification
Must pass the Pre-Recruitment Test of IRDA.

3 Employment Status
Not a salaried employee or having substantial regular income
from other sources.
Appointment Process

1 Recruitment
Normal agent recruitment process followed by
SBAs/DOs/PDOs/ADOs/CLIA/LIC Associate/Chief
Organizer.

2 Interview
Branch-level interview conducted by the Branch-In-
charge.

3 Onboarding
Successful candidates join as Lady Career Agents.
Stipend Structure
First Year
Rs. 7,000 per month

Second Year
Rs. 6,000 per month

Third Year
Rs. 5,000 per month
Performance Requirements
Number of Lives 24

First Year Commission (FYC) Rs. 48,000

Bonus Commission Excluded from FYC calculation


Prospective Candidates
Working Women Self-Employed Non-Working Ladies

College students ,Bank employees, Women seeking additional income Those looking for part-time
general insurance advisor- sources. opportunities.
medicalim , mutual fund advisors,
teachers, sales personnel.
Commission Structure
First Year Commission
25% of premium + 40% bonus commission

Renewal Commission
5% of premium for subsequent years

Total Income
Commission + Stipend (Rs. 14,000 per month)
Long-Term Benefits

1 Years 1-3
Stipend + Commission (Rs. 14,000 per month)

2 Years 4-5
Renewal commission on existing policies

3 Years 6+
Fixed income of Rs. 3,000 per month for 12-13 years
Key Product: Jeevan Laabh

Protection
20-40 times premium paid in case of unfortunate events

Savings
Lump sum payout at policy maturity

Growth
Vested bonus added to the benefits
Career Growth Potential

1 Flexible Income
Income increases with higher premium policies

2 Full-Time Opportunity
Potential for full-time career after 3 years

3 Skill Development
Opportunity to learn and earn in insurance sector
Contact & address

Samir kotak Chief advisor- Div-4


223, 2nd flr nandgoapl ind estate B.S road
dadar west Mumbai
Samir kotak mobile no-9322271758
office -022-40048113/40048110
www.samirkotak.in/LICadvisor.org

Mail id :[email protected]

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