Age and Education: Must be at least 18 years old and have completed the necessary education, typically a high school diploma or equivalent.
Training and Examination: Successful completion of pre-licensing training and passing the required examination.
Appointment: Official appointment as an LIC agent upon successful completion of the training and examination.
Professionalism: Conduct business with integrity, professionalism, and in the best interest of the clients.
Ethical Practices: Avoid misrepresentation of policies, concealment of material facts, and engage in fair selling practices.
Compliance: Adhere to all LIC guidelines, regulations, and legal requirements.
Promotion: Promote LIC products and services to potential clients.
Sales Targets: Meet or exceed the sales targets set by LIC.
Customer Service: Provide excellent customer service and maintain good relationships with clients.
Commission: Earn commissions on the sale of LIC policies. The commission structure may vary based on the type and term of the policy.
Incentives: Eligibility for bonuses, awards, and other incentives based on performance.
Ongoing Training: Participate in ongoing training programs to stay updated with the latest products, services, and industry developments.
Skill Development: Continuously develop skills to improve sales techniques and customer service.
Documentation: Maintain accurate records of all transactions, client interactions, and policies sold.
Reporting: Submit regular reports to LIC as required.
Data Protection: Protect the confidentiality of client information and data.
Non-Disclosure: Do not disclose any proprietary information of LIC to unauthorized parties.
Grounds for Termination: Breach of contract, unethical practices, non-performance, or any other valid reason as per LIC guidelines.
Notice Period: Adhere to the notice period requirements in case of voluntary termination.
Regulatory Adherence: Comply with all applicable laws and regulations governing insurance practices.
Licensing: Maintain a valid and active license to operate as an insurance agent.
Indemnity: Indemnify LIC against any losses or damages arising from breach of terms or misconduct.
Modifications: Accept any modifications to the terms of service as communicated by LIC from time to time.