Table of Contents
How much does a development officer in LIC earn?
The highest salary for a LIC Development Officer in India is ₹92,374 per month. What is the lowest salary for a LIC Development Officer in India? The lowest salary for a LIC Development Officer in India is ₹27,441 per month.
What is the commission rate for LIC agents?
Though, Agents earn the commission for the policies they sale. LIC offers 25\% to 35\% commission on the policy premium for the first year, then 7.5\% for 2nd & 3rd Year + 5\% till the policy maturity.
Can LIC agent becomes LIC development officer?
If you are an LIC agent already or the one applying for and wondering if an agent can also become a Development Officer in the company, the answer is ‘yes you can. ‘
What is the post of development officer in LIC?
LIC Development Officers Examination leads to the recruitment of the Development Officers who belong to the class II officer category. They are in charge of their territory for the development of insurance policies.
What percentage does an insurance agent make on a policy?
Commission Structure The average insurance carrier gives captive agents a 5-10\% commission of any policy sold, while the average independent agent makes around 15\% commission.
What is eligibility of LIC development officer?
| LIC ADO Eligibility Criteria 2021 | |
|---|---|
| Age | 21 – 30 Years of Age |
| Educational Qualification | Bachelor’s degree in any discipline |
| Nationality | Indian |
| Number of Vacancies | To be Updated |
Who is LIC 1st officer?
LIC of India Class I Officers’ (Revision of Terms and Conditions of Service) Amendment Rules, 2021
| S.N. | Entry | Class I Officer posts |
|---|---|---|
| (1) | (2) | (3) |
| 1. | (i) | Zonal Managers |
| (ii) | Chief Engineers I Chief Architects | |
| 2. | (i) (ii) | Deputy Zonal Managers I Senior Divisional Managers Deputy Chief Engineers I Deputy Chief Architects |
What is the Commission of LIC agent?
LIC Agent commission is nothing but money that an LIC agent gets from insurance corporation for selling the policy. LIC agent commission depends on the term of policy and type of insurance policy (Endowment, money back etc.). Higher the terms mean better is a commission.
What is the Commission of LIC agent on pension plan premiums?
This commission is for the first premium and then 2nd and 3rd year the commission is 7.5\% and for 4th year onward till whenever the policy is in force the agents gets 5\% commissions on premiums. LIC Agent commission on pension plans like Jeevan Shanti, Pradhan Mantri Vaya Vandana Yojana (PMVVY) in 2021
How much Commission do LIC Jeevan Labh agents get on LIC policies?
A agent gets 25\% commission on LIC Jeevan Labh policy. This commission is for the first premium and then 2nd and 3rd year the commission is 7.5\% and for 4th year onward till whenever the policy is in force the agents gets 5\% commissions on premiums.
What is LIC money back plan and Commission?
Money back plans are plans where an insured person gets a percentage of sum assured at regular intervals, instead of getting the lump sum amount at the end of the term. Few popular LIC money back plans and applicable commission are given below. From above it is very clear that LIC Insurance agents earn a hefty commission.