An LIC Insurance Franchise offers a prestigious opportunity for individuals to partner with the Life Insurance Corporation of India, the nation’s most trusted insurance giant.
Becoming an LIC Insurance Agent is the first step toward building a sustainable career with high earning potential through commissions and renewals.
This Insurance Franchienables you to provide essential financial security and life insurance to diverse clients, se model allows you to provide essential financial security and life cover to diverse clients, ranging from rural households to urban professionals.
Operating under the LIC Insurance Franchise banner grants you access to a massive portfolio of endowment, pension, and term plans.
As a licensed agent, you benefit from professional training, flexible working hours, and the brand’s immense goodwill.
Whether you aim to be a full-time professional or a part-time consultant, an LIC Franchise empowers you to become a successful entrepreneur while serving the noble cause of financial protection for families across India.
LIC Insurance Agent Business Opportunnity – Snapshot
Line of Business
Insurance Agent
Unit / Shop Area
100 – 200 Sq. Ft. (Optional)
Commission% / Revenue Sharing
2% to 15% of Premium
Overall Investment
Rs.32,000 – Rs.53,500 (Optional)
ROI Timeframe
3 to 6 Month
What do you know about LIC Insurance Franchise Business?
About the Brand
Industry
Finance & Money
Business Line
Insurance Agent
Organization Type
Public
Head Office
Mumbai, Maharashtra
Founder
Siddharth Mohanty (Chairperson)
Founded In (year)
01 September 1956
No. of Insurance Agents
14 Lakh+
Master Franchise Model
NA
Insurance Agent Tenure
Lifetime
Insurance Agent Location
All over India
Business Set-Up Time
1 Month
Agent Commencement Year
1995
How much does LIC Franchise Cost or Fees?
Investment by Insurance Agent
Registration & Training Fees
Rs.2,000 – Rs.3,500
Infrastructure Investment
Rs.30,000 – Rs.50,000 (Optional)
What is LIC Insurance Agent Commission?
Commission% / Revenue Sharing
Life Insurance Commission
2% to 6% of Premium
Health Insurance Commission
Upto 15% of Premium
Motor Insurance Commission
NA
Travel Insurance Commission
NA
Business Insurance Commission
NA
ULIP Commission
2% to 4% of Premium
How much you can earn from LIC Franchise Business?
Monthly Revenue
Life Insurance Premium
15,00,000
Health Insurance Premium
3,50,000
ULIP Premium
6,00,000
Life Insurance Commission
30,000
Health Insurance Commission
52,500
ULIP Commission
12,000
Agent’s Income
94,500
Total Expences
32,000
Agent’s Net Profit
62,500
Net Profit Margin
2.551%
How much time does it take for LIC Insurance Agent to breakeven?
This Insurance Franchienables you to provide essential financial security and life insurance to diverse clients, se model allows you to provide essential financial security and life cover to diverse clients, ranging from rural households to urban professionals.