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.
Sir any policy without agent.
i am also a lic agent sir can u plz tell me if any agent does not achieve their target their agent code will be terminate…….
I am a agent working 2003 to 2012 bm,s club member,there after we have not working in agency.please suggest me to my reneul commission of 2013 to till dates i have not to received,
Sir,
I m Keshab Deb
Sir I m working in LIC as an agent from 2013 July but till yet I don’t get Bonuses
So, sir I requested you to please say why I m not getting bonuses and wat should I do to get my bonuses plzzz sir
Sir please give Jan 2017 month commission details
My agent code 01577750 pl give details of Jan 2017 commission
WHAT IS commission is given to new policy holder by agent , as some offer more than forty percent t of the annual amount and some higher
i am N.Jaya krishna Lic Agent No:03152676…please provide for last six month commsion bills send to my ,maii id: njk1611@gmail.com……….
POLICY HOLDER NEFT POSITION SOW ANOTHER HEAD IN PREMIUM POINT WITH BANK NAME AND ACCOUNT NUMBER FOR POLICY HOLDER FACILITY
POLICY HOLDER NEFT POSITION SOW ANOTHER HEAD IN PREMIUM POINT
sir first year commtion kya milta h policy par 6000 par kitna commition milta h