LIC Scheme : In a novel scheme that aims to financially empower women who have completed basic education, the country’s largest insurer, Life Insurance Corporation of India, has hit upon this plan.
The sweet offer is only for women doing their 10th standard as they can now earn a salary of almost 7k and fulfill the lifelong dream of The Iron Lady!
This is timely action because female workforce participation in India continues to lag behind the global average with only 23% of the eligible women working in formal jobs.
LIC plans to tap an underutilized talent pool and, at the same time, try to address the geographical gender gap in access to financial services by targeting women with a certain level of education.
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LIC Scheme The Recruitment Drive: On second thoughts…
It is not a regular job and work as per LIC agent recruitment modified programme to creates opportunity for 10th pass girls and women.
Applicants who qualify aren’t hired employees of LIC, but are licensed insurance advisors who work for the corporation under the broad insurance distribution network it possesses.
Explains Anjali Sharma, divisional manager, LIC, Western Zone, Adds Sharma: “We realized that many talented women with elementary qualifications can be found outside the formal economy because of all sorts of social and economic barriers.
This new program provides an alternative way for them to earn money on their own schedule, while spending time with their families and caring for others.”
Monthly earnings of Rs. 7,000 can be earned through the commission structure from policy sales and policies renewals, while the actual earnings would vary according to performance, location and development of client base.
Good performers may earn much more, and many agents have said that they make over Rs. 20,000 as commissions per month once solid a network of clients is in place.
LIC Scheme Eligibility Requirements
Among the changes these initiatives make for women applicants are:
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10th Standard pass certificate issued by recognized board.
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Age between 18 and 55 years
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General understanding of the local language and limited proficiency of English
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Smartphone and internet access
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body 4) A minimum of 4-5 hours per day can be committed to business development
Clean record – no previous criminal record
Crucially no insurance or financial services experience is necessary as LIC offers full training to successful candidates. It thus presents a unique opportunity for women; be it after raising children or for a first earning opportunity.
LIC Scheme The Application Process
Women who want to be a part of this opportunity will only need to follow a simple, yet structured, application process:
Step 1: Preliminary Appointment The applicants should have to visit nearest LIC branch office or contact Development Officer for expressing interest.
Or you can also register on the official website of LIC under the “Become an Agent” tab, indicating interest in the women initiative.
Step 2: Document Requirements Aspirants must send their primary and supporting documents (these are but not limited to the following list):
High school certificate of 10th standard or equivalent.
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Proof of age (Aadhaar card, voter ID, birth certificate)
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Address proof
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Two recent passport sized photographs
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PAN card
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Bank account details
STEP 3 – APTITUDE TEST (with basic interview) A preliminary aptitude test evaluates basic skills – from basic mathematics, languages to how to communicate.
It is not meant to be very difficult- what they really are trying to do is to make sure that you can explain insurance topics once you’ve been trained.
Step 4: Training Approved candidates will be trained through a 50-hour program which includes the basics of insurance, product and ethical sales practices and introduction to Financial Planning.
The training is a combination of classroom and online training to suit different learning needs and schedules.
Step 5 – IRDAI Licensing Examination Candidates have to clear the Insurance Regulatory and Development Authority of India (IRDAI) licensing examination once they have finished their training.
LIC gives competitive exams preparation help, and the exam has been crafted to become favorable to individuals having 10th pass qualifications.
Having completed these steps women get their insurance advisor license after which they fully become part of LIC and have access to all the marketing support, product training, and experience to help them excel.
LIC Scheme Real Success Stories
The programme has already changed lives in many areas, since being launched in some divisions last year.
Meena Devi, from Patna, Bihar, showcases the program’s promise. A homemaker with a 10th standard education, she joined up as an insurance advisor last year.
“I was scared in the beginning selling insurance policies because I thought it was very difficult. But LIC’s training was for people like me, taking the complex and making it simple.”
Meena – Earning | Rs. 8,200 per month In just 8 months, Meena has built a respectable clientele and earns close to INR 8,200 while keeping flexible hours to balance her family life.
Lakshmi Narayanan too saw financial freedom through the program in a small town around Coimbatore. “During the tenth I couldn’t continue studies due to family pressures.
‘All my life I worked on the family farm and I never made any personal income,” she says. “Now I make Rs. 7,000 a month, sometimes a little more when it’s a good month.
The respect I’ve earned in my town as a financial advisor has been equally as rewarding.”
LIC Scheme Beyond Earnings: Other Perks
There are also many benefits in addition to the financial reward from working on the initiative, which includes:
Work Flexibility: Advisors can set the times for their client appointments and administrative work, allowing opportunity to fit with family.
Transferable Skills: Training imparts useful information about financial products, techniques of selling and relationship management in a client facing environment and could be applied to different industries.
Social Credit: Female advisors typically gain esteem as valued financial advisors in their towns, leading to higher social status and self-esteem.
Career Path: Successful candidates have the opportunity to be promoted into a development officer role or may be considered for special incentive programs and may advance to other fundraising field positions, with features and possibility of international travel.
Women Advisors Add On: Women advisors are especially good at helping insurance coverage reach historically underserved areas – especially other women, who might feel more at ease discussing one’s money problems with a female advisor.
LIC Scheme The Road Ahead: Creating a Reliable Revenue Source
Initial commissions can be different, but LIC also says that earning a solid Rs. 7,000 per month or higher requires hard work and a smart clientele development. The following are a couple of the strategies Failure is a Citizen offers new advisors:
Community Networking: Utilizingg current social ties within neighbourhoods, among religious organizations and also between local businesses.
Family Protection Angle: Educating your neighbors and people in your community about the value of financial protection against a sufficient amount of life insurance.
Annual Client Review: Relationship building through annual policy reviews and lifestyle-based financial planning conversations.
Utilization of Digital Tools: Effectively use LIC’s mobile applications and Digital platforms for recording applications, renewal and timely renewal.
Reacting to this, Rajesh Sharma, Training Manager at LIC’s Eastern Zone, comments, “We have seen in women advisors that if they give three months for the learning and network establishment, they start getting the stable income per month in their second quarter itself.
It’s all about consistency – the more you are in touch with the client lists and the more you are constantly expanding your networks ensures a steady income rise.
LIC Scheme How to Apply
Those wanting to explore this opportunity could get in touch with the local LIC branch or log on to the corporation’s official website licindia. in for the latest application information.
It is a pan-India initiative with focus on tier-2 and tier-3 cities, where young women with basic education are constrained to work in the formal sector.
As India marches to the broader goals of financial inclusion and women’s economic empowerment, efforts like these are critical bridges from underutilized talent to meaningful earning capabilities.
Reducing the standard barriers to entry into financial services also lowers the barrier to tens of thousands of women to achieve economic independence while driving insurance penetration in underserved markets.
