minimum policy business for LIC agent in a year

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!

Quote:

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Originally Posted by gaurav

1. how many lives do it need to insure in a year

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Min 12 Policies per year.

Quote:

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Originally Posted by gaurav

2. how much should be the first year premium of newly insured lives

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I am not 100% sure but it's roughly Rs. 1,50,000/- premium per year.

Quote:

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

thanks!

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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.

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.

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.

Quote:

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Originally Posted by rameshsen

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.

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