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So, are you wondering how much commission does an LIC agent get? Are you interested in getting into the insurance agency business, or are you just curious about how much commission LIC gives to its agents? Well, learn about LIC’s commission structure, its rate of commission, LIC commission details and the LIC agent commission chart (plan wise) through this information-packed article. We will talk about the following:
The exact commission of an LIC agent depends on the type of policy they have sold, and the bonus they have earned. But you can get an idea of the structure of LIC commission payments and understand how much commission an LIC agent can earn.
Commission Percentage %
Fresh policy sold
20-25% (depending on the policy sold)
Bonus on first year policies sold
Up to 40% of policy premium
Recurring commission (2nd and 3rd year)
7.5% of policy premium
Recurring commission (4th year onwards)
5% of policy premium
Now, let us understand the commission rates for different types of LIC policies:
Money Back Plan
To get a further idea about the commission rate, refer to the plan wise LIC Agent Commission Chart below. The chart specifically gives a detailed break-up of the commission rate based on the policy type and policy tenure.
An LIC agent makes a commission in the following ways:
As you can see, LIC has quite a few robust earning metrics for its agents, ensuring that they make a healthy income. If you are considering becoming an LIC agent, it could be a wise choice.
LIC agent commissions are dependent on the type of policy sold and the tenure of the LIC policy sold. Different types of policies and different tenures attract different commission rates for LIC agents.
Get a detailed idea of LIC commissions by viewing the LIC agent commission chart below.
We hope this article shed some light on agent commission details, and agent commission structure.
This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.