Job Profile
What is LIC’s Start–Up Opportunity
•It is an Exclusive Career opportunity provided by LIC of India to Fresh Graduates, Post Graduates and MBAs to become an Entrepreneur.
•You are expected to deal with Upper Middle Class and High Net worth Individuals.
•You will also deal with Corporates for Business Insurance.
•It is a full time Entrepreneurship Opportunity.
•Your earnings during 1st year itself will be Rs-25,000 to Rs-2,00,000 per month provided you perform all the mandatory activities .
•Your earnings by the end of 3rd Year will be Rs-1,00,000 to Rs-8,00,000 per month or even above depending on your capabilities.
Job Profile of LIC Advisor
The main job of LIC Advisor involves:
•Prospecting:
Identifying the prospective customers and fixing appointment.
•Need Analysis:
Identifying the needs and getting the prospect agree that need exists. (i.e. Family Income Provision, Children Education and Marriage Provision or Retirement Income Provision.)
•Plan Presentation:
Suggesting suitable plans that fulfil the needs as agreed by the prospect.
•Closing the Sale:
Convincing the prospect that you have suggested the best possible solution for his needs and ask for the order.
•After Sales Service:
Provide efficient after sales service and claims settlement.
Challenges of the Career
This is a great Profession to be in, But it is tough to Succeed as :
•Public attitude towards this profession is not always positive.
•You have to face series of Rejections in spite of your best efforts.
•Continuous Learning and Studying is required.
•Constantly meeting new people is required.
High field activity is must.
•Income at beginning will be low as it takes time to build relations with people.
Attributes You Should Possess
To become Successful LIC Advisor:
•You should be outgoing and love to meet people.
•You should be ambitious to start your own Business.
•You should have Good Communication Skills.
•You should have lot of Perseverance.
•You should be willing to work hard with lot of Dedication and Devotion.
•You should be prepared to accept rejections as stepping stone.
Market Potential
| First Year Premium in Crores | Market Share | Number of Policies | Market Share | |
| LIC of India | 1,77,977 | 68.74% | 2,19,25,106 | 75.90% |
| All 23 Private Companies | 80,919 | 31.26% | 69,61,463 | 24.10% |
| Total | 2,58,896 | 2,88,86,569 |
The above figures shows dominance of LIC of India even after 19 years of opening of the Insurance sector to private companies.
Why this profession is unique?
The profession of a Life Insurance Advisor is unique as it is a combination of several professions.
He is a teacher who teaches society the meaning, the message and the Magic of Life Insurance.
He is social engineer constructing bridges between the ‘certainty’ of today and the ‘uncertainty’ of tomorrow.
He is Lawyer who pleads the cause of the future generation with the present generation to ensure a better and happier tomorrow.
He is a Doctor who suggests a remedy for the different needs of the family by recommending savings and investments.
Above all he is a friend, philosopher and guide for his clients.
If an honest service is rendered the reward will automatically follow.
The Advisor’s sociability gets enhanced, the ripple of satisfaction widens, the enlargement of circle of friends and client increases and there is an eternal growth of new business.
As Life Insurance Advisor “Selling is for our living, but service should be our Life.”
