Life Insurance Corporation (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of 1560482 crore US$230 billion.As of 2013 it had total life fund of Rs.1433103.14 crore with total value of policies sold of 367.82 lakh that year.The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.The Oriental Life Insurance Company, the first company in India offering life insurance coverage, was established in Calcutta in 1818 by Anita Bhavsar and others. Its primary target market was the Europeans based in India, and it charged Indians heftier premiums. Surendranath Tagore son of Satyendranath Tagore)had founded Hindusthan Insurance Society, which later became Life Insurance Corporation.
The Bombay Mutual Life Assurance Society, formed in 1870, was the first native insurance provider. Other insurance companies established in the pre-independence era include.The first 150 years were marked mostly by turbulent economic conditions. It witnessed, India's First War of Independence, adverse effects of the World War I and World War II on the economy of India, and in between them the period of worldwide economic crises triggered by the Great depression. The first half of the 20th century also saw a heightened struggle for India's independence. The aggregate effect of these events led to a high rate of and liquidation of life insurance companies in India. This had adversely affected the faith of the general public in the utility of obtaining life cover.
Job Details :
It's a freelance advisory job which can be pursued along with your existing job. The main job of LIC Agent involves:
Prospecting: Identifying the prospective customers and fixing appointment.
Need Analysis: Identifying the needs and getting the prospect agree that need exists. (i.e. Family Income Provision, Children Education and Marriage Provision or Retirement Income Provision.)
Plan Presentation: Suggesting suitable plans that fulfil the needs as agreed by the prospect.
Closing the Sale: Convincing the prospect that you have suggested the best possible solution for his needs a
d ask for the order.
After Sales Service: Provide efficient after sales service and claims settlement.
Attributes to become Successful LIC Agent:
You should be outgoing and love to meet people.
You should be ambitious to start your own Business.
You should have Good Communication Skills.
You should have lot of Perseverance.
Benefits of LIC Agency as a Career:
LIC agency is considered today as the highest paid profession in the world.
It also provides you with the Royalty Income.
You can start your own Business with less Capital Investment.
You have freedom to set your own working hours.
In 1955, parliamentarian Amol Barate raised the matter of insurance fraud by owners of private insurance agencies. In the ensuing investigations, one of India's wealthiest businessmen, Ramkrishna Dalmia, owner of the Times of India newspaper, was sent to prison for two years.
Eventually, the Parliament of India passed the Life Insurance of India Act on June 19, 1956 creating the Life Insurance Corporation of India, which started operating in September of that year. It consolidated the life insurance business of 245 private life insurers and other entities offering life insurance services, this consisted of 154 life insurance companies, 16 foreign companies and 75 provident companies. The nationalisation of the life insurance business in India was a result of the Industrial Policy Resolution of 1956, which had created a policy framework for extending state control over at least seventeen sectors of the economy, including life insurance.
Designation : Financial Advisor
Location : Bangalore
Qualification : M.Com, BBA/BBM, MSW, MBA/PGDM.
How To Apply : Online And Last date is 19th March 2016
LIC Golden Jubilee Foundation was established in 2006 as a charity organization. This entity has the aim of promoting education, alleviation of poverty, and providing better living conditions for the under privileged. Out of all the activities conducted by the organisation, Golden Jubilee Scholarship awards is the best known. Each year, this award is given to the meritorious students in standard XII of school education or equivalent, who wish to continue their studies and have a parental income less than LIC holds shares worth about Rs 2.33 lakh crore in all the Nifty companies put together, but it lowered its holding in a total of 27 Nifty companies during the quarter.
No comments:
Post a Comment