You can earn up to Rs 84,000 extra every month by joining LIC. Image Credit source: Representative Photo
If you have 4 to 5 hours of free time on weekends. Then you can earn up to Rs 84,000 extra every month by joining LIC. The best thing is that this will not affect your job as well, and if your income starts getting good then you can do this work full time also.
Actually you have to join LIC as an insurance agent. This work can be done both part time and full time. There is neither any limit to work nor there is any limit to earning. LIC agent’s earning comes from getting a good commission on insurance.
must have inter pass
If you want to become an agent of LIC, then you must have intermediate certificate. That is, even a normal 12th pass person can increase his earnings many times by becoming an agent of LIC.
To become an agent, you have to provide 4 color passport size photographs, age proof, education proof, PAN card and Aadhaar card details as documents.
35% commission, income will increase every year
LIC gives its insurance agents a maximum commission of up to 35 percent on a policy. Although it decreases every year. If you get an insurance policy with a premium of Rs 10,000. So in the first year you will get 35 percent of it as commission i.e. Rs.3500.
After this, on depositing the premium of the policy in the second year, you will get 7.5 percent commission i.e. Rs.750. On the other hand, after this, for the number of years the policy will run, you will get a commission of 5 percent of the premium every time i.e. 500 rupees.
One of the advantages of becoming an agent of LIC is that your one policy gives you continuous income for the next 10 to 15 and 20 years. If you do a new LIC policy every year in the right way, and your old policy is also renewed on time, then your income increases every year. However, the agent’s commission on LIC’s policy is decided according to the type of policy.
Commission is decided according to the policy
LIC mainly sells two types of policy plans. There is an endowment plan and the other is money back plan. LIC agent gets a maximum commission of 35 percent of the first premium on some special policies. While up to 25 percent commission is available on new endowment plans, term plans, health insurance plans and child plans. At the same time, LIC also gives a commission of 2 percent to the agent on the pension plan.
This is how you can earn 84,000 per month
If you understand this math, then to earn Rs 84,000 per month as an LIC agent, you will have to sell at least 2 policies on every weekend. Means you have to sell 1 policy every day in 8 days of the weekend. If the commission of 35 percent of the first premium is considered as income, then you will have to bring a business of at least Rs 2.4 lakh in a month to LIC i.e. premium.
On this, you will get a direct income of Rs.84000 as premium. If you make it up to Rs 3 lakh, then your income will cross Rs 1 lakh.