MDRT (Our Mission)
To be a valued, member-driven, international network of leading insurance and investment financial services professionals and advisors who serve their clients through exemplary performance and the highest standards of ethics, knowledge, service, and productivity.
Fringe Benefits
Club membership is a mark of professional achievement. It can show clients that an advisor values dedication and professional service. Different club levels may also offer different benefits, subject to current LIC rules.
1. Club Membership
As your performance grows, you may qualify for LIC club membership, depending on the current eligibility requirements.
- Corporate Club
- Chairman's Club
- Zonal Manager's Club
- Divisional Manager's Club
- Branch Manager's Club
2. Rewarded Handsomely
First Commission on Sales
Under the standard tables and terms described in this reference, first-year commission is 25% of the first-year premium paid by policyholders.
Bonus Commission
A bonus commission of 40% of eligible first-year commission may be payable if the advisor meets requirements for total first-year premium and the number of lives insured during the agency year.
Renewal Commission
Under the standard tables and terms described in this reference, renewal commission is 7.5% of premiums paid in the second and third policy years, then 5% from the fourth year onward. Renewal commission applies to premiums paid to keep a policy active.
Increasing Income
Renewal commissions from earlier business may continue as new sales are added. The total can grow over time, depending on sales, policy renewals, and applicable commission rules.
Continued Commission after Agency Ends
The reference describes conditions under which renewal commission may continue after an agency ends. These include minimum service periods and business-in-force requirements. Check current LIC rules for the exact conditions.
Commission for Heirs or Nominees
The reference describes cases where renewal commission may be payable to an agent's heirs or nominee after the agent's death, subject to service and business requirements. Confirm current rules with LIC.
Retirement Benefits
The reference mentions gratuity of up to ₹5,00,000 under the Agents' Rules, 1972, subject to qualifying service. Check the current rules and eligibility before relying on this figure.
Term Insurance
The reference describes a family protection benefit for certain agents, subject to age, service, active-agency, and policy requirements. Check current LIC rules for availability and eligibility.
3. Agent Network
- 242 Corporate Banks
- 98 Brokers
- 1,337,064 Referrals
- 42 Banks
- 98% Active LIC Agents
- 79 Individual Banks
Commission Earning Table
For each policy sold, an agent may earn commission when the policyholder pays premiums. For example, a policy with a 20-year premium term may provide commission over the years premiums are paid, subject to the applicable terms.
| Item | 1st Year | 2nd Year | 3rd Year | 4th Year | 5th Year |
|---|---|---|---|---|---|
| Number of Policies | 140 | 150 | 175 | 200 | 250 |
| Annual Premium (₹) | 3,500,000 | 3,750,000 | 4,375,000 | 5,000,000 | 6,250,000 |
| 1st Year Commission, 35% (₹) | 1,225,000 | 1,312,500 | 1,531,250 | 1,750,000 | 2,187,500 |
| 2nd Year Commission, 7.5% (₹) | — | 262,500 | 281,250 | 328,125 | 375,000 |
| 3rd Year Commission, 7.5% (₹) | — | — | 262,500 | 281,250 | 328,125 |
| 4th Year Commission, 5% (₹) | — | — | — | 175,000 | 187,500 |
| 5th Year Commission, 5% (₹) | — | — | — | — | 175,000 |
| Total Commission (₹) | 1,225,000 | 1,575,000 | 2,075,000 | 2,534,375 | 3,253,125 |
| Monthly Income (₹) | 102,083 | 131,250 | 172,917 | 211,198 | 271,094 |
First-Year Commissions of Top Agents
First-year commission amounts for the top 10 TOT 2014 qualifiers from LIC of India, as listed in the supplied reference:
| Rank | Name | Location | First-Year Commission (₹) |
|---|---|---|---|
| 1 | Shri V Venkateswara Rao | Vishakhapatnam | 20,509,585 |
| 2 | Smt Sangita Maheshwari | Indore | 17,758,368 |
| 3 | Shri Bharat V Parekh | Nagpur | 10,952,152 |
| 4 | Shri Ravinder Jethani | Mumbai | 10,124,090 |
| 5 | Dr Balwant Singh Chirana | Delhi | 8,811,908 |
| 6 | Shri Auti Dattatray Jayram | Mumbai | 8,646,357 |
| 7 | Shri Pulkit Khandelwal | Delhi | 7,071,261 |
| 8 | Shri Bhiman Das | Kolkata | 6,792,431 |
| 9 | Shri Deepak Dhabalia | Mumbai | 6,631,879 |
| 10 | Smt Heena Hitesh Shah | Mumbai | 6,601,442 |