Eligibility and Appointment

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.

Code of Conduct

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.

Sales and Marketing

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.

Remuneration and Incentives

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.

Training and Development

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.

Record Keeping and Reporting

Documentation: Maintain accurate records of all transactions, client interactions, and policies sold.

Reporting: Submit regular reports to LIC as required.

Confidentiality

Data Protection: Protect the confidentiality of client information and data.

Non-Disclosure: Do not disclose any proprietary information of LIC to unauthorized parties.

Termination and Disciplinary Actions

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.

Legal Compliance

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.

Miscellaneous

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.