AMANDEEP SINGH BAWA is one of the top performing development officer of LIC & now he is designated as SBA (senior business associate) by LIC of india in recognition of his consistent & good performance. he is handling a team of around 120 advisors. he is posted at SO zirakpur under chandigarh division, if you join as an advisor with his team you have an extra advantage of various things. its just like joining IIM for MBA rather than joining any MBA College
India's largest life insurance company, the life insurance corporation (LIC) of India, has footprints across the country and its market share continues to make it the dominant player in the life insurance industry. It has an unmatched reach with 8 zonal offices, 113 divisional offices, 2048 branch offices & 1,275 satellite offices. LIC draws its strength from over 1.16 lakh employees and more than 1.2 million agents.
The corporation's figures speak for themselves. In the last financial year, LIC sold over 36 million new polices and occupying more than 84.4% market share. It has the largest customer base of about 290 million policy holders and its assets base is more than a mammoth Rs 15 lakh crore. The valuation surplus runs into more than `28,000 crore, of which, nearly `1,400 crore is given to the central government as dividend. So, what better reason can you have for associating yourself with such a big and growing organization?
For life insurers, the policy is the finished product. But to sell them, LIC makes use of various distribution channels, such as individual agents, brokers and corporate agents. The individual agency system, however, remains the backbone and the largest channel for selling policies.
Few industries provide an opportunity of unlimited earning from the very first day of working. The agency career with LIC, however, is an exception. For these agents, the sky is the limit when it comes to their earnings and signing their own cheques. With flexible working hours and the control to run one's own agency as a business, life insurance agency system suits those with entrepreneurial aptitude.
Life insurance helps families maintain their standard of living and also helps them save for their long term goals. LIC, being the oldest and the biggest in the life insurance industry, know it best in handling lives and money.
Most people have their first contact with an insurance company through an insurance sales agent. These people help individuals, families, and businesses select insurance policies that provide the best protection for their lives, health and property. Agents prepare reports, maintain records, seek out new clients, and, In the event of a loss, help policyholders settle their insurance claims. Increasingly, some are also offering their clients financial analysis or advice on ways to minimize risk.
Life insurance agents specialize in selling polices that pay the beneficiaries in the event of death of life insured or on survival depending on the policy & the policy can be designed to provide retirement income, funds for the education of children, or, other benefits. Life insurance agents also sell annuities that promise a retirement income.
Life insurance agents are hired by insurance companies and they act as the main link between the insurance company and the insured. Their role is to recommend their clients the right products that address the clients' needs. At the same time, they must act in the interests of the insurance company by using their unique position of knowing their clients well enough to protect the insurance company from any undue adverse product selection.
This makes the role of the agent very crucial. Agents facilitate the smooth sale of insurance products by assisting their clients with completing the paperwork involved, and after the policy is sold, the agent should ensure it is serviced properly until maturity, or in the event of claim. At the time of a claim, the agent should also assist the client to complete the required formalities to ensure quick settlement.
Life insurance agents are the backbone of any insurance organization. They are a key source of business for the organization, and are a continuing link with the client. That is the reason why LIC takes a lot of care in recruiting and developing their agency force. The endeavor is to set high standards of quality in service and salesmanship. To cater to the needs of the knowledge-oriented marketplace, LIC looks out for the people who are service-oriented, good communicators and enjoy meeting new people.