Life Insurance Corporation of India (LIC) offers a variety of insurance and investment products. Some of the key products include:
1. LIC Term Insurance Plans: Provide pure life cover for a specified term.
2. LIC Endowment Plans: Combine insurance coverage with savings and maturity benefits.
3. LIC Money Back Plans: Offer periodic payouts along with maturity benefits.
4. LIC Whole Life Insurance Plans: Provide coverage for the entire lifetime of the policyholder.
5. LIC ULIP (Unit Linked Insurance Plans): Combine life insurance with market-linked investment options.
6. LIC Pension Plans: Designed to provide a regular income after retirement.
7. LIC Health Insurance Plans: Cover medical expenses and provide financial support in case of illness.
8. LIC Children's Plans: Tailored for the education and future needs of children.
9. LIC Micro Insurance Plans: Aimed at providing insurance to economically vulnerable sections of society.
Key responsibilities:
1. Selling insurance products on behalf of LIC (basically you will be appointed as an insurance advisor in "LIC").
Note: It will be purely a sales job. You have to provide the best service to customers.
Benefits:
1. In the first year you will be getting a commission of 35% on every policy you sell
2. In the second and third years you will get 7.5% renewal commission
3. Afterwards you will get a renewal commission of 5% till the policy matures.
4. You will be getting Mediclaim
5. Your own life insurance without any premium paid by you
6. Housing and car loan
7. Festival advances
8. Office allowance
9. A chance of getting a government job in LIC
Annual CTC: ₹ 2,00,000 /year
LIC of India is the only public sector life insurance company in India. The company was established in September 1956 and is HQ in Mumbai, India which is undertaken by Government of India. S K Roy is the Chairman of Life Insurance Corporation of India. It is the largest life insurance company in India with a huge presence in both rural and urban markets. It is the top most leading and famous public sector life insurance company in India and it provides many different types of LIC policies to customers. More than 200 insurance companies are established in India. The main objective of is to spread these insurance products all over India particularly in rural areas and economically background classes and to provide financial insurance covers against death at a low premium.
