Now that you’ve decided to join LIC as agent, here’s how you should go about it.
The first step to begin this process is to fill up a sponsorship application form and submit self-attested Xerox copies of the following documents:
After processing your LIC reigstration sponsorship application form and the above documents, we will call you for an informal meeting with the Branch Head to check your eligibility and suitability for the role.
If we think you are a good fit, you will be required to take the IC38 training program, which is for 25 hours. This course covers the basics of life insurance, health insurance, documentation, financial planning, regulatory aspects, customer service, etc.
You have the option of either doing this online or in-class. The advantage of the online option is that you can do this from the comfort of your own home, since it is location independent. The classroom training is a 4 day program, from 10:30 AM – 5:30 PM. As with face-to-face training classes, you will have the advantage of clearing any of your doubts as you interact with the trainer and you will also have the chance to meet and interact with other aspiring people who want to join LIC as agent.
Once you have completed the IC38 training program, you will have to take a 1 hour online test. If you have completed the 25 hours, you will find this test to be relatively simple. To do well on this test, make sure to study the training material thoroughly. Although the actual IC 38 is quite a voluminous document, with 450 pages and would take you a couple of weeks to study it; there is an abridged version which is 135, including 5 mock tests. The mock tests help you gauge your understanding of the subject and whether or not you are prepared to sit for the actual exam. Other than mock tests, there are many apps that can also help you prepare for your exam, but the website we recommend is www.workwithlic.com . A lot of support and training material can be found on this website, which will help you pass the test with flying colours.
The Test is a computer based test, which will be held at the NSEIT ltd Test Centre. It is a multiple choice test where the candidate will have to select the right answer from a list of 4 to 5 options. There will be no negative marking, which means the candidate can attempt all the 50 questions, without the fear of losing any marks. To pass, the candidate has to get 18 answers correct out of 50; and 17 out of 50 is considered a grace pass. The score will be made available immediately after the test has been completed. Failed candidates can reapply again and there is no limit on the number of attempts; however, each attempt will cost Rs. 502/-
Tip for the Test: Start with attempting questions that you are sure of; let’s say those are 10-12 questions. Next, since there is no negative marking, for the remaining questions, even if you answer them all as “c”, because of probability you will at least get an additional 8-10 marks.
For the above procedure and to become LIC agent, there will be a one time expense, which is as follows:
Once the test has been cleared, the candidate will then have to visit the concerned LIC office, along with 2-3 passport sized photos and a canceled cheque for the online transfer of commission payments. Another application form will then need to be filled out. After this, LIC will be issuing an appointment letter and an agent ID card.
Your journey to become LIC agent is ready to begin in the insurance world!