LIC Agent Commission [Updated 2023]

In the world of insurance, Life Insurance Corporation (LIC) stands tall as one of the most trusted and reputable names. LIC agents play a crucial role in promoting and selling LIC policies to the masses. They are not only the face of the company but also serve as the bridge between potential policyholders and the benefits offered by LIC. In this article, we will delve into the world of LIC Agent Commission, exploring how these agents earn their income, recent changes in the commission structure, strategies to maximize earnings, and the challenges they face.

Understanding LIC Agent Commission Chart 2023

What is LIC?

Life Insurance Corporation (LIC) is a state-owned insurance company in India, and it holds a dominant position in the life insurance market. Established in 1956, LIC has been instrumental in providing financial security and protection to millions of individuals and families.

Who is an LIC Agent?

An LIC agent is an authorized representative of the corporation who acts as an intermediary between LIC and potential policyholders. These agents are entrusted with the responsibility of explaining various insurance policies, assisting customers in selecting the right plan, and facilitating the purchase process.

Importance of LIC Agents

LIC agents play a crucial role in the insurance industry. Their personalized approach helps customers understand complex insurance products in a simplified manner. They offer tailor-made solutions that suit the unique requirements of customers and act as financial advisors, fostering long-term relationships.

LIC Agent commission rates for 1st Year

  1. Money Back plan: 20%
  2. New Endowment plan: 25%
  3. Term Plan: 25%
  4. Pension Plan: 2%
  5. Child Plans: 25%
  6. Health Insurance Plan: 25%

Benefits for LIC Agent

As an Agent, you will be a true entrepreneur. You have the freedom to be your own boss: work for yourself, choose your own clients and make your own money. All of this, without any initial capital investment.

35% Commission on Inaugural Annual Premium

Reap bountiful benefits as you embark on your exciting and rewarding journey as an LIC agent. Marvel at the opportunity that awaits you, as you delight in a generous 35% commission on the first year’s premium, paving the way for a prosperous future.

And that’s just the beginning! Continue to revel in the success and financial abundance that comes your way with a commendable 7.5% for the subsequent two years, ensuring a steady stream of income.

But the benefits don’t end there. You can joyfully celebrate an additional 5% commission persisting until the policy’s remarkable denouement, ensuring a lasting and fulfilling income source. Embrace this incredible opportunity and savor the remarkable rewards that come with being an LIC agent.

Your journey towards professional and financial success starts here, where possibilities are boundless, and the sky’s the limit.

🕒Flexibility Redefined – Embrace Unfettered Working Hours

As an LIC Agent, embrace the liberty of crafting your work hours according to your preference. Whether it’s part-time or full-time, align your occupation with your existing job, and relish the symphony of work-life equilibrium.

If you choose to work part-time, you have the flexibility to dedicate your time to other pursuits or spend precious moments with your loved ones.

On the other hand, if you opt for a full-time role, you can immerse yourself in the insurance industry, honing your skills and contributing to the financial security and protection of individuals and families.

The job of an LIC Agent allows you to merge your passion for helping others with the opportunity to create a fulfilling and prosperous career. So, seize the freedom to shape your work schedule and enjoy the harmony between your professional and personal life.

📚Inimitable Tutelage & Accolades – A Confluence of Excellence

Immerse yourself in an unparalleled learning experience orchestrated by the LIC Development Officer, empowering you to soar to new heights in your vocation. The crème de la crème of agents are lauded annually with prestigious awards, a testament to their unwavering dedication.

Experience the transformative power of the LIC Development Officer’s exceptional training program, designed to inspire and elevate your professional growth. Dive deep into a realm of unlimited possibilities and expand your horizons like never before. Let the thorough guidance and support provided by the LIC Development Officer propel you towards unprecedented success.

Every year, the most outstanding agents are recognized and honored with prestigious accolades, reaffirming their unwavering commitment to excellence. These coveted awards serve as a shining tribute to their unmatched dedication and serve as an inspiration for aspiring agents across the industry.

💰The Gateway to Abundance – Unlimited Earning Potential

Unleash the true potential of your efforts, for as an agent, your earnings know no bounds. Ascend the echelons of success, as top-performing agents gain entry to the Million Dollar Round Table, a global assembly that heralds the world’s most triumphant Insurance Agents.

Experience unparalleled possibilities and unearth the boundless potential that lies within you. As an agent, your hard work and dedication will pave the way for unlimited success. Picture yourself reaching heights beyond imagination, as you ascend the ladder of achievement.

Dreams become reality as you join the prestigious Million Dollar Round Table. This esteemed gathering, renowned worldwide, stands as a testament to the exceptional caliber of Insurance Agents who have surpassed all expectations. Embrace the opportunity to be part of this exclusive assembly, where greatness is celebrated and excellence is the norm.

Let your ambition soar as you discover the secrets to unlocking boundless prosperity. With determination and drive, you can transcend the ordinary and become an inspiration to others. The path to success may be challenging, but your unwavering commitment will lead you to the pinnacle of achievement.

Remember, the sky is not the limit when it comes to realizing your dreams as an agent. Seize every opportunity, embrace every challenge, and witness your earnings soar to unimaginable heights. Go forth and conquer the world of insurance, knowing that the Million Dollar Round Table awaits those who dare to dream big and achieve even bigger.

💼Befriend Fortune – Exclusive Privileges for LIC Agents

Fortune favors the LIC agents, granting access to alluring perks such as interest-free loans for acquiring laptops, enticing interest rates ranging from 5% to 7.5% on housing loans, and irresistible opportunities for two and four-wheeler loans.

LIC agents are fortunate because they are provided with attractive benefits, including the option to take interest-free loans for purchasing laptops, housing loans with appealing interest rates ranging from 5% to 7.5%, and irresistible opportunities for obtaining loans for two-wheelers and four-wheelers. These perks make the career of a LIC agent highly desirable.

The availability of interest-free loans for purchasing laptops is a great advantage, as it allows agents to access modern technology without any financial burden. Similarly, the enticing interest rates on housing loans provide agents with affordable options for owning their dream homes.

Moreover, the irresistible opportunities for two and four-wheeler loans make it convenient for agents to purchase vehicles for their personal and professional needs. Overall, being an LIC agent comes with numerous benefits that can greatly enhance one’s professional and personal life.

🎁Embracing a Secure Future – Gratuity & Comprehensive Mediclaim

Secure your future with open arms, for LIC agents are entitled to gratuity rewards and an all-encompassing mediclaim cover. This remarkable opportunity not only guarantees financial stability but also provides peace of mind during challenging times. By choosing a career as an LIC agent, you are paving the way for a brighter and more secure future.

The numerous benefits and privileges that come with this profession are a testimony to the dedication and commitment LIC has towards its agents. With the support of a dynamic team and a robust system, you can embark on a journey towards success and prosperity.

Don’t miss out on this chance to build a rewarding career and enjoy the tranquility that comes from knowing you are protected by a comprehensive mediclaim cover.

Unveiling Unbounded Horizons – A Voyage to Unprecedented Success

Embark on a quest where the horizons are limitless, and the journey is as boundless as your aspirations. As an LIC agent, seize the reins of your fate and traverse uncharted territories, crafting a legacy of triumph that endures through time.

Explore the vast expanse of opportunities that await you, pushing the boundaries of your potential to new heights. Take upon yourself the challenge of unraveling the mysteries of the insurance world, as you navigate through endless possibilities and forge unbreakable connections.

With each step forward, let the flames of determination guide you towards a future filled with achievements and success.

Discover the unmatched joy of making a difference in the lives of countless individuals, providing them with the protection and security they deserve.

Embrace the adventure that comes with your role, as you shape a destiny that is both remarkable and extraordinary.

Let your passion and dedication illuminate every path you tread, leaving an indelible mark on the annals of history.

How LIC Agents Earn Commission

Commission Structure

LIC agents earn a commission on the premiums paid by policyholders. The commission percentage varies based on the type of insurance product sold and the premium amount. Generally, LIC follows a graded commission structure, where agents earn a higher commission for the first-year premium and lower percentages for renewal premiums.

Factors Affecting Commission

The commission earned by LIC agents is influenced by several factors. These include the type of policy, the premium amount, the agent’s performance, and the overall business generated by the agent. Agents who consistently perform well and meet their sales targets may also receive performance-based bonuses and incentives.

Changes in LIC Agent Commission for 2023

Regulatory Updates

The year 2023 has brought some notable changes to LIC Agent Commission due to regulatory updates. The Insurance Regulatory and Development Authority of India (IRDAI) has introduced new guidelines to ensure transparency and fairness in the insurance industry.

Impact on Agents

While the new regulations aim to benefit customers, they have also impacted LIC agents. Some agents may experience a temporary dip in their earnings during the transition period. However, these changes also present opportunities for agents to adapt their strategies and explore new avenues for growth.

Strategies to Maximize LIC Agent Commission

Building a Strong Customer Base

To boost their earnings, LIC agents must focus on building a strong customer base. By understanding the needs of potential policyholders, agents can offer relevant policies, thus increasing the chances of making a sale.

Cross-Selling and Up-Selling

Cross-selling and up-selling are effective techniques for maximizing commission. By recommending additional policies or riders that complement the customer’s primary policy, agents can enhance their earnings while providing comprehensive coverage to policyholders.

Renewal Commissions

Renewal commissions form a significant part of an LIC agent’s earnings. Agents must maintain a good rapport with existing policyholders to encourage them to renew their policies, thus ensuring a steady stream of income.

Challenges Faced by LIC Agents

Competitive Market

The insurance industry is highly competitive, with several private players vying for market share. LIC agents face competition not only from other insurance agents but also from online insurance platforms.

Meeting Sales Targets

LIC agents often encounter the pressure of meeting sales targets set by the corporation. While targets drive performance, they can also create stress and impact the overall well-being of agents.

Customer Trust

Earning the trust of customers is crucial for LIC agents. With the presence of fraudulent schemes and misrepresentation in the market, agents must work diligently to build credibility and maintain the reputation of LIC.

The Future of LIC Agent Commission

The future of LIC Agent Commission looks promising with the evolving insurance landscape. As digitalization gains prominence, LIC agents can leverage technology to reach a wider audience and provide personalized services efficiently.


LIC agents play an integral role in the success of Life Insurance Corporation, and their commission structure is a vital aspect of their profession. The changes in LIC Agent Commission for 2023 bring both challenges and opportunities for agents.

By adopting innovative strategies, building trust, and embracing technology, agents can thrive in the dynamic insurance industry and secure a prosperous future.


Is LIC Agent Commission the same for all policies?

No, the commission percentage varies based on the type of policy and the premium amount.

Do LIC agents receive bonuses for outstanding performance?

Yes, agents who consistently perform well may receive performance-based bonuses and incentives.

How can LIC agents increase their earnings?

LIC agents can increase their earnings by building a strong customer base, cross-selling, up-selling, and focusing on policy renewals.

Are LIC agents affected by regulatory changes?

Yes, regulatory changes can impact LIC agents’ earnings, but they also present opportunities for growth and adaptation.

What does the future hold for LIC agents?

The future looks promising for LIC agents, with the potential to leverage technology and provide personalized services in an evolving insurance landscape.

Eligibility criteria for becoming LIC agent?

Basic eligibility qualification for the LIC Agent is 10th Pass. If you have SSC passing certificate and the necessary documents then you are eligible to become a LIC Agent.

How much time does it take to become an agent?

Usually, it takes two weeks to complete all the process. You can submit the documents and basic fees to our Development officer. After the approval of our Development officer, you can give the exam and then you will be hired as a LIC Agent.

Who is LIC development officer?

Development Officer is a LIC employee responsible for Agent recruitment and training. Our officer will guide you through the recruitment system and provide you with all the necessary information and training.

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