Life Insurance Corporation of India (LIC) is an insurance company aided by the Government of India and is one of the leading companies where the people invest in life insurance policies. LIC offers a chance to the people to become agents and act as an executive working for the company.
On becoming an individual agent of LIC, one can work as a business person who can directly approach the clients and help them purchase a LIC policy. On thinking of how to become LIC agent, many aspiring individuals experience some myths. Due to these myths, a lot of people avoid becoming a LIC agent. Here, some myths are discussed in details that will help the desired candidates to become an agent keeping all incorrect assumptions aside:
Some LIC Agent Myths that Needs to be Busted
One needs to have complete knowledge of insurance
It is a primary myth that LIC agents need extensive knowledge about insurance. However, a person who has passed the 10th standard is considered eligible to apply for the LIC agent exams conducted by IRDA (Insurance Regulatory and Development Authority of India). While residing in an urban area, a person has to qualify at least the 12th standard to apply for the examination. So, a person can start making money from an early age working as a LIC agent without possessing extensive knowledge of insurance beforehand.
A LIC agent is a desk job person
Many people think that the job profile of the LIC agent resembles a desk job. This is totally a myth. As a LIC agent, a person needs to maintain a good connection with the clients. From collecting premiums to completing paper works, a LIC agent has many job roles to play. So, an agent must always be outgoing, disciplined and punctual. Moreover, he must have outstanding communication skills that can enhance his credibility among the clients. a LIC agent must always develop an excellent network of clients to improve the potential customer base.
The income of an agent is average
Many people possess a common thought that the income of LIC agents is not that good. However, it is just a myth. As the client base of a LIC agent enhances, he can start earning in decent sums. For each customer, an agent can get monetary convenience from LIC. Moreover, Life Insurance Corporation of India provides outstanding financial support to the agents to secure their present and future. An agent can also push his limits with respect to income target in a specific period and earn more perks.
Preference for online insurance purchase
Presently, there are different banks and private insurance agencies who are delivering life insurance policies online. Thus, there are many people who have a common belief that there are lesser chances of growth when it comes to becoming an online LIC agent. However, this is a myth. You can earn decently in both being online or a traditional insurance agent.
So, you must avoid thinking about the online policy purchase and try to become an LIC agent by giving the examination.
Insurance agents have to work as salesmen
Though it is correct that the LIC agents have to sell the insurance policies to the client but it is a myth that they have to work as salesmen. The agents can work as an independent entrepreneur while selling LIC policies. The agents have the responsibility to improve client relations and work on improving the awareness of people taking the life insurance policy.
The qualifying examination is too tough
As the basic eligibility for becoming an LIC agent is set to the 10th and 12th standard, one cannot expect the question of the qualifying exam to be very tough. So, you must not hold to the belief that it needs longer preparations for passing the IRDAI exam to be a LIC agent. Moreover, after you have qualified, a lucid appointment process would follow. So, it is less time consuming to become a LIC agent.
Fixed hours of work
As a LIC agent, you will not have any fixed hours of work. As said before, you will act more like an entrepreneur while being an agent. It is a myth that there will be a necessity to leave your daily job. You can dedicate a few hours and maintain a few clients while being an agent. However, always make sure that the clients must not face any discomfort for your reluctance of service. As an agent, you must be keen to protect both your and LIC’s repute among the client base.
So, these are some common myths that you should never belief while aiming to become a LIC agent. For a person with sharp communication skill and outstanding smartness, the work as an agent can be prosperous. A person can ensure outstanding income by being an agent on a part-time basis. Moreover, the training given by LIC during the appointment can help you to gain all the necessary knowledge about the insurance policies and its marketing.