Sell LIC insurance policies

Sign Up
/ LIC / How to sell LIC policy

About LIC

The Life Insurance Corporation of India (LIC) is a pioneer in the life insurance industry. The company was the first life insurance company formed in India and as such it has the largest customer base. As such, LIC has more than 2048 branches operating today. Customers have an inherent trust in the plans offered by the company and so they readily buy LIC insurance policies. Due to this many individuals seek to become an insurance advisor and sell LIC policies.

How to sell LIC policy?

To sell a life insurance policy of the Life Insurance Corporation of India (LIC), you have to become an advisor with LIC. To become an advisor the following steps are required -

  • You have to register for an agency with LIC directly under a DO (development officer)
  • Attend a classroom training for 25 hours at a LIC training institute
  • There would be an exam conducted by the Insurance Regulatory and Development Authority (IRDA)
  • You would then have to clear the examination to get a license to act as a LIC advisor.

Once you get the license, you can sell LIC policies to your contacts by visiting them one-on-one.

The newer way to sell LIC Policy: Become a PoSP

Instead of becoming an advisor with LIC directly, you can become a PoSP(Point of Sale Person). TurtlemintPro gives you complete online support for selling insurance policies to your clients. Right from finding the plans suitable for your client to help them with their claims, TurtlemintPro gives you online assistance. You can use the TurtlemintPro app to sell LIC policies online.

When you sell online, your customers can buy the policy directly from the app and pay the premiums online. The policy is issued at the earliest and your hassles are also reduced.

Your clients can also compare the plans offered not only by LIC alone but also by different life insurance companies. Thus, by comparing, your clients can buy the best policy at the lowest premium rates. Also, the features of every policy are available at your fingertips on the TurtlemintPro app.

Besides helping your customers buy insurance after comparing, TurtlemintPro also gives you end-to-end support. You can provide efficient post-sales service to your clients with TurtlemintPro’s help. You get regular renewal reminders and can track your sales on the app. TurtlemintPro also helps you provide claim assistance to your clients. Thus, TurtlemintPro helps you sell insurance the paperless way. You just need to focus on selling the policy to your contacts and TurtlemintPro would do the rest.

Selling insurance policies of LIC

LIC policies can be sold in two ways - online and offline. Let’s understand how these methods work -

  • Offline mode of selling LIC policies
    You can sell LIC policies by visiting your clients. You have to explain the plan details to your clients. After the client agrees to the policy that you recommend, you should help your clients fill up the proposal form. After the form is filled, collect the premium.
    Then, you need to visit the office of LIC for getting the policy issued. It is a cumbersome process as you have to physically visit the company premises for entering in the policy details which you have sold.
  • Online mode - An easier alternative
    Rather than visiting your contacts physically, you can become a Point of Sale Person (PoSP). TurtlemintPro allows you to sell LIC policies online from the comfort of your own home.

How to sell LIC policy online?

To sell LIC policies online, you can follow these steps –

  • Create a list of all your contacts including family, friends, relatives and acquaintances and then approach them
  • Try and find out the financial requirements of your contacts before telling them the details of the policy. Once you find the financial requirements you can understand which policy would be suitable for them.
  • Once you have understood the requirement of the client, recommend the suitable LIC policy. It can be an endowment plan for savings oriented needs, child plan for child’s future planning, pension plans for retirement planning or unit-linked plans for creating wealth
  • Once the client sees that the product which you are suggesting meets his/her financial needs, he/she would buy the policy from you. When the client agrees to buy the plan, help them fill up the proposal form online. The form should be filled with particular details and the details should be correct. If the client does not understand any part of the form, educate him/her about it so that the form is filled after complete understanding.
  • After the form is filled, help your clients pay online premiums and help them get the policy thereafter.

That’s it. You can sell your LIC policies easily using these steps.

The TurtlemintPro advantage

Become an insurance advisor with LIC directly:

However, if you wish to enrol with LIC directly, you can do so by enrolling as a LIC advisor and then sell LIC policies. As mentioned earlier, to become a LIC advisor, you need to contact a DO (Development Officer) of LIC, enrol under him, appear for 25 hours of mandatory insurance advisor training and then pass the IC38 exam conducted by the IRDA to get an insurance advisor license.

LIC advisor usually use the offline method of selling insurance. You can, however, sell LIC policies by the online mode through the LIC website as well.

Become an insurance advisor

Join us