LIC’s endowment policy gets a commission of up to 35 per cent of the total installment and up to 25 per cent of the total installment in the moneyback.
The government has opened the treasury for LIC, the country’s largest government insurance company. The government has proposed to increase the authorized capital to 25000 crore rupees for LIC. Actually, the company is planning to launch an IPO next year. For which this proposal has been given by the government. Investors will get an opportunity to earn through the IPO of LIC when the IPO comes. But if you want to earn money by joining LIC, then the company pays a good special commission for it. Let’s know what is the way to connect with it and how it will earn.
Eligibility for this is also intermediate. The specialty of business with LIC is that the more you work, the more commission you will receive, that is, the earnings in this business are unlimited. Commission on LIC policy is decided according to the policy.
Strategy to earn 70 to 75 thousand rupees
Geeta Kandari of Delhi has been associated with LIC for many years. And by working only 4 to 5 hours a day, she is earning 70 to 75 thousand rupees a month. Gati Kandari told TV9 Hindi that by working with LIC, you can fix your desired income. At the same time, the most important thing is that for this you can also decide the working hours on your own. Kandari explains that the older you get with LIC, the more your earnings grow. After a time, the largest part of your income becomes an old policy. Your income gets better with renewal policies.
Agents earn in lakhs
According to the company’s website, if the customer takes a 20-year policy and pays a premium of Rs 10,000 every year, then after 20 years, the Angel gets 1.35 lakh in the endowment policy and Rs 1.43 lakh in the moneyback policy. Is earning. The more the agent gets the policy, his earnings also increase accordingly.
Commission gets up to 25%
LIC pays up to 25% of the policy installment to its agents as commission. This applies only to the first installment of the policy (first year’s premium), after which the commission decreases. The agent will get commission every time the policy holder submits the installment. The agent has to make a policy only once. His commission is fixed on every installment.
This is how commission is fixed
According to the LIC website, there are different commissions under endowment and moneyback policies. Commission rates are different in both policies. The endowment policy provides a commission of up to 35 per cent of the total installment and 25 per cent of the total installment in the moneyback. After this, the commission starts decreasing. The agent’s commission is decided according to the LIC policy. On endowment policy, Enget gets up to 25 per cent of the first commission installment. Apart from this, 40 percent of the commission is given to the additional agent. If a client created by an agent has deposited the first installment of Rs 10,000, then the agent will get 2500 rupees as commission. Apart from this, 1000 rupees is 40 percent of the commission. In this way, the agent will get a commission of about 3500 rupees on the first installment. The longer the policy, the higher the agent’s earnings.
