LIC Agent Commission
LIC Agent Commission get varies from policy to policy and also varies based on the policy period or term of the policy. If the Policy term is higher, the Commission of LIC Agent becomes higher. The first Lic agent commission will be dependent on Term of the policy and type of the Policy (Endowment, Money back, etc.). Here we have provided the information about the commission that an LIC agent get for the varying term periods and various policy. Lic Agent Commission in Insurance is based on the type of the Policy that is also available in our website.
Commission Details
- First Commission: Depending on Term of the policy and type of the Policy (Endowment/ Money back, etc.).
- First Year Commission: Commission payable on the First year premium.
- Bonus Commission: Subject to conditions.
- Renewal commission: Depending on Term of the policy & type of the Policy.
LIC Agent Commission Types
Lic agent commission depending on Term of the policy and type of the Policy i.e., Endowment and Money Back are,
|
YEAR
|
1st Type
(ENDOWMENT)
|
2nd Type
(MONEY BACK)
|
| 1st YEAR | 25% | 15% |
| BONUS COMM. | 40% OF COMM | 40% OF COMM |
| 2nd YEAR | 7.5% | 10% |
| 3rd YEAR | 7.5% | 10% |
| 4th YEAR onwards | 5% | 6% |
| 1st YEAR | 25% | 15% |
Example:
If 10,000 Rs/- collected as Yearly premium for a 20 year Policy term and the Policyholder pays the Premium Regularly,
The Benefits are:
| ENDOWMENT TYPE | MONEY BACK TYPE |
|
1st Year :10000 X 25% – 2500
Bonus : 2500 X 40% – 1000
2nd Year :10000 X 7.5% – 750
3rd Year :10000 X 7.5.% – 750
4th Year :10000 X 5% – 500
5th Year :10000 X 5% – 500
6th Year :10000 X 5% – 500
7th Year :10000 X 5% – 500
8th Year :10000 X 5% – 500
9th Year :10000 X 5% – 500
10th Year :10000 X 5% – 500
11th Year :10000 X 5% – 500
12th Year :10000 X 5% – 500
13th Year :10000 X 5% – 500
14th Year :10000 X 5% – 500
15th Year :10000 X 5% – 500
16th Year :10000 X 5% – 500
17th Year :10000 X 5% – 500
18th Year :10000 X 5% – 500
19th Year :10000 X 5% – 500
20th Year :10000 X 5% – 500
TOTAL : – 13500
|
1st Year :10000 X 15% – 1500
Bonus : 1500 X 40% – 600
2nd Year :10000 X 10% – 1000
3rd Year :10000 X 10% – 1000
4th Year :10000 X 6% – 600
5th Year :10000 X 6% – 600
6th Year :10000 X 6% – 600
7th Year :10000 X 6% – 600
8th Year :10000 X 6% – 600
9th Year :10000 X 6% – 600
10th Year :10000 X 6% – 600
11th Year :10000 X 6% – 600
12th Year :10000 X 6% – 600
13th Year :10000 X 6% – 600
14th Year :10000 X 6% – 600
15th Year :10000 X 6% – 600
16th Year :10000 X 6% – 600
17th Year :10000 X 6% – 600
18th Year :10000 X 6% – 600
19th Year :10000 X 6% – 600
20th Year :10000 X 6% – 600
TOTAL : – 14300
|
|
FOR SINGLE PREMIUM — COMM. IS 2 %
|
|
* From 2nd Year onwards Commission you get is called Renewal Commission.
balakrishna says
October 28, 2017 at 11:53 pmHi sir,
i want commission chart of jeevan anand (815) & jeevan labh (836) policy tabbles
Regards,
Balakrishna
Sanjeev says
October 28, 2017 at 9:26 pmSir,i am not understandind what is the extra benefit of 2% on single premium & i also want to this extra benefit is for which customers or agent
Arti saket agrawal says
October 4, 2017 at 10:04 pmi want commission chart of limited premium endownment policy table no 830-12- 9.
stella says
September 19, 2017 at 8:42 amWithout agent u dont get any insurance. If the agents give good services, it makes u to get good returns for ur money.
ayan bose says
July 16, 2017 at 11:27 pmi want commission chart of jeevan umang policy table no 845.
Radhakanta Paramanik says
October 3, 2017 at 9:01 pmI like to commission of jeevan umang.pls clarify