Is there any pension for LIC agent?

Is there any pension for LIC agent?

Group pension Group pension is also available under Lic Agent Benefits.

What is group pension for LIC agent?

The scheme, christened, City Career Agents, will offer a monthly stipend to agents who have to cover at least 24 lives and earn a commission of 30,000 per month. This scheme is eligible for a year for a agent and is aimed at making sure that the agent can bring sizeable premium income for LIC.

What benefits does LIC agent get?

Interest Free Advance for purchase of CAR/ Motor Bike and Office Equipment. Interest Free Advance for Festival Advance. Housing Loan At Concessional Rate of Interest. Term Insurance and Mediclaim Benefit.

What is the new pension scheme in LIC?

Pension Plans

Sr. No. Product Name Plan No.
1 “Pradhan Mantri Vaya Vandana Yojana “ 856
2 LIC’s Jeevan Akshay – VII 857
3 LIC’s New Jeevan Shanti 858
4 LIC’s Saral Pension 862

What is Samvardhan contribution?

(a): Life Insurance Corporation of India (LIC) has informed that LIC has launched a Defined Contribution Group Superannuation Scheme (Samvardhan) for its agents on 1st February, 2011 to help them accumulate corpus during their productive period which can be used for providing pension in a structured way after the …

What are group insurance plans?

What Is a Group Health Insurance Plan? Group Insurance health plans provide coverage to a group of members, usually comprised of company employees or members of an organization. Group health members usually receive insurance at a reduced cost because the insurer’s risk is spread across a group of policyholders.

What is group insurance scheme?

Group insurance is a type of insurance plan that covers a number of people in the same contract. Such a plan provides the same level of insurance coverage to all members of a group irrespective of their age, gender, occupation or socio-economic status.

Do LIC agents pay first premium?

Though, Agents earn the commission for the policies they sale. LIC offers 25% to 35% commission on the policy premium for the first year, then 7.5% for 2nd & 3rd Year + 5% till the policy maturity.

How do LIC agents get paid?

LIC agent can earn unlimited since there is no specified salary. They get a commission from the policy they sell and they can earn more than their capacity. Apart from this, LIC agents also get some allowances and benefits from LIC club memberships when they have fulfilled the conditions of club membership.

How much pension will I get from LIC?

Eligibility Criteria of Pradhan Mantri Vaya Vandana Yojana

Parameters Details
Pension (Minimum) Monthly – Rs. 1,000 Quarterly – Rs. 3,000 Half-Yearly – Rs. 6,000 Yearly – Rs. 12,000
Pension (Maximum) Monthly – Rs. 9,500 Quarterly – Rs. 27,750 Half-Yearly – Rs. 55,500 Yearly – Rs. 1,11,000

What is NPS Swavalamban scheme?

The Swavalamban Scheme is a Govt. of India incentive for unorganized sector. This is a pension scheme available to provide the retirement benefit to unorganized sector and under this scheme, the Govt. of India will contribute Rs. 1000/- per year to every NPS-Swavalamban account provided the contribution is between Rs.