LIC agent exam is conducted to recruit candidates who can work as LIC agents. The exam is prescribed by the Insurance Regulatory and Development Authority of India. To become a LIC agent, the educational qualification required by the candidate is to pass in 10+2 examination. Being an integral part of the organisation, LIC agents are responsible to build and develop contacts with clients buying different policies from the organisation. They get an attractive salary, remuneration, commission and pension for a lifetime. LIC agents can avail loans at a low rate of interest.
Pattern of the LIC Agent Exam
Insurance-related subjects and general rules are part of the LIC agent exam. The exam is quite comprehensive and depending on your skills and aptitude, it can be both simple and tough to become a LIC agent. The training is provided by The Divisional / Agency Training Center of Life Insurance Corporation. You need to visit the nearest LIC branch office’s development officer for an interview. It’s very crucial to clear the interview. Your general knowledge is tested in the interview. Money and finance related questions are also asked in the interview. Once your application is accepted for training after the interview, you will be sent for a training session. The duration of the training is 50 hours in which awareness of all aspects of life insurance is presented.
After completing the training session, one can attend the qualifying test. After successfully qualifying the exam, you get a license of a life insurance agent. The branch office recruits successful candidates of the exam as the LIC agent to work under the guidance of the branch manager. The main skills required by an individual are good communication skills, self-motivation and an ability to build close contacts with clients. Your appearance, personality, clarity of speech and politeness will also be judged in the interview without your knowledge. The duration of the exam is 60 minutes and there are 50 objective type questions. One must score at least 18 marks out of 50 to qualify the exam.
English and Hindi language, basic general knowledge and maths, rules and regulations of life insurance business are part of the syllabus. Choose study materials that cover all important aspects of the syllabus and there are an ample number of questions to practice.
Some recommended books to prepare for LIC agent exam are –
- Principles of Insurance – P.K. Gupta
- Applications of Life Insurance – Dr Rakesh Agarwal
- Fundamentals of Insurance – Hargovind Dayal
- Guide for Legal Aspects of Life Insurance – Dr Rakesh Agarwal
- Guide to Regulations on Insurance Business – Dr Rakesh Agarwal
- The Ultimate Guide to IC38 – IRDAI General Insurance Agent Exam – Dr M Venu
Practice general insurance question answers to gain knowledge. Reading newspapers and magazines will sharpen your knowledge. From the IC38 study material, study all the chapters and practice the question sets. There are 400 pages in the book along with 20 chapters. Cover all important topics to understand all insurance-related subjects. Attempt mock tests frequently to know of your strength and weaknesses. On the exam day, you must answer the questions you are completely sure of first. Don’t waste much time on the doubtful questions. Try to complete the exam before 10 minutes so that you get sufficient time to go through all the questions. Make sure that you attempt all the questions as there is no negative marking. The exam ensures that the candidates have a good knowledge of the field they are considering to build a career in, to select potential LIC agents who persuade the customers to purchase the insurance policies. To know more, you can click on the link given below: https://www.mintpro.in/lic/lic-advisor-exam/