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gaurav
13-08-2010, 06:46 PM
Hi

i would like to know the following regarding LIC agents license
1. how many lives do it need to insure in a year
2. how much should be the first year premium of newly insured lives
3. what if i do get required lives but not the target premium

thanks!

Expert
14-08-2010, 01:40 PM
1. how many lives do it need to insure in a year Min 12 Policies per year.

Expert
14-08-2010, 01:47 PM
2. how much should be the first year premium of newly insured lives
I am not 100% sure but it's roughly Rs. 1,50,000/- premium per year.


3. what if i do get required lives but not the target premium

thanks!
If you meet ONE of the target from the above then your agency would not be terminated.
If you won't meet ANY of the above criteria then your agency would be terminated.

CONFUSED
14-08-2010, 06:11 PM
In an exposure draft on persistency of life insurance policies,in July'2010, the IRDA has suggested a target of 20 policies per year for individual agents and a minimum first year premium income of Rs 150,000.
IRDA has also proposed nonrenewal of an agent's licence where the persistency ratio is less than 50 per cent.

This is just a draft for all Life Insurance Companies.

rameshsen
23-07-2012, 02:10 PM
I also want to ask that, for how many years I have to make 12 life per year.
Actually I have successfully completed 3 years.
Is there any criteria that we have to Compulsory insure 12 live for any particular years.

Manish_Kumar
24-07-2012, 02:19 AM
I also want to ask that, for how many years I have to make 12 life per year.
Actually I have successfully completed 3 years.
Is there any criteria that we have to Compulsory insure 12 live for any particular years.
Check attachment of this thread - Link (http://www.policywala.com/forum/showthread.php/1082-What-is-the-minimum-policies-required-for-an-LIC-agent?p=7680&viewfull=1#post7680)