Life Insurance Corporation of India has more than 12 lakh agents (know more about LIC Profile 2020). Some of these agents are very successful and give consistent business year by year. Based on the performance of these agents, LIC gives them club membership.
इस पोस्ट को हिन्दी में पढें: एलआईसी अभिकर्ताओं के लिए क्लब सदस्यता की शर्तें
These club memberships are based on the business procured by the agents in the last 3 consecutive years. In other words, the higher the business, the higher will be the club membership.
Table of Contents
What are the clubs for LIC agents?
There are 7 different clubs for LIC agents. These clubs are named Corporate Club, Galaxy Club, Chairman’s Club, Zonal Manager’s Club, Divisional Manager’s Club, Branch Manager’s Club, and Distinguished Club for LIC agents. Unique colors differentiate all clubs. The Corporate Club is the highest and most prestigious club for LIC agents. On the other hand, the Distinguished Club is the lowest club for LIC agents.
However, most LIC club member agents are in Chairman’s Club to the Branch Manager’s Club.
Our other posts related to LIC club memberships
Relaxations in club membership conditions for LIC agents
What are the qualifying conditions for LIC club membership?
We are here to show you the qualifying conditions for CM Club, ZM, DM, and BM clubs. Primary qualifying conditions for LIC club member agents have four criteria. These are: 1. The minimum net number of lives, 2—the net number of lives or Total lives in force, 3. Renewal commission paid and 4. year commission paid.
Read our post Terminology that every LIC club member agent must know to understand the terms better. See below these conditions in tabular format:
To become a club member agent, you have to qualify for the conditions of the particular club for 3 years. In other words, to get the LIC club membership, an agent must be eligible for this condition in the qualifying financial year and in 2 financial years out of 3 previous financial years. To know the qualifying requirements of Galaxy Club, please visit our other post: Club Galaxy for LIC agents: All you need to know.
For example, if an agent wants to become chairman club agent, he/she must qualify for all the conditions mentioned in the qualifying year. Suppose the qualifying year is 2020-2021, then the agent must qualify in the year 2020-2021 and 2 years from the year 2019-2020, 2018-2019, and 2017-2018. After qualifying, as stated above, the agent will get a club membership for 1 year.
The club membership year will be from 1 September 2020 to 31 August 2021. The agent must continuously qualify these conditions to maintain and continue the club membership.
Why LIC agents must get a LIC Club membership?
You are one of the agents among the 12 lakh agents of LIC of India and maybe 1 of a thousand agents in your division or branch. How to get yourself recognized and stand out of the crowd. Getting a club membership will surely make you stand out from the crowd and give you recognition. So here is the reason you must become a LIC club member agent:
- Recognition
- Office Allowance
- House loan at subsidized rates
- Interest-free car loan
- Interest-free two-wheeler loan
- Annual family vacation (conditional and club-specific)
- Annual convention participation with air travel (conditional and club-specific)
- Customized stationery with your name and address
Essential Things to Remember!
- Being a club member agent is not a one-time thing; you must give continuous and consistent business to remain a member.
- Doing only new policies will not help you get a club membership; you must be good at servicing and keeping your customers.
- Your first-year lapse ratio must not exceed 15% at any cost.
- Increasing your customer base is more important than increasing your number of policies.
- Though you may feel this awkward If you are trying to become a club member, keep away from club agents who only do minimum qualifying business; you may end up with no club.
- Doing seasonal business will not help you to get a club membership. To get the LIC club membership, you must consistently work throughout the year.
- Always keep yourself updated with all the information related to new insurance products and service-related information. This will help you to give better service and retain the customers.
- Grab the opportunities as and when they come, like plan closures and competitions.
- Do not stick to limited plans. This will make you stereotype, and you may be unable to create a good customer base. Try to sell all the available insurance plans.
- Create different segments for different insurance plans, giving you a diversified customer base and consistent business every time.
- Keep updating your prospecting list.
- Do not hesitate to get references from your existing customers.
- Use technology to its fullest to give better service.
If you have any other LIC servicing questions, just mail us at [email protected]. You can also comment below. Share if you liked this valuable information because Sharing is caring!
Its a very nice information. Thanks very much
Pl keep on sending this kind of information
Thanks very much. Pl keep on sending more n more important information likewise
Thank you for your information. can you give me previous year (2014-2015) details about commission?
Commission for Financial year 2014-2015 (Membership year 2015-2016) required to qualify for club membership
CM’s Club FYC-221000, RC-221000 (New Entry), FYC-210000, RC-210000 (Continuation)
ZM’s Club FYC-154000, RC-154000 (New Entry), FYC-147000, RC-147000 (Continuation)
DM’s Club FYC-100000, RC-66000 (New Entry), FYC-95000, RC-63000 (Continuation)
BM’s Club FYC-56000, RC-39000 (New Entry), FYC-53000, RC-37000 (Continuation)
C M Club continuation commission is 210000 &alose renewal commission is 210000 financial year
Thanks for this type of information regarding clubmembership
Really its very good information and timely one.You are also requested to inform relaxation in commission if it is there. You are also requested to post circular related to NB & PS. every time its dosenot have the information to advisors.
Thank you for informartion Club Rules
Agent ruls
Commison for fy 2014-2015 (membership year 2015-2016) required to qualify club membership
This is very nice information.
Year 2014 2015 zm club continuation ruls
This is very useful information of lic .The any news of new policy and the change in lic rules please inform .
Please send me upto date result
how to qualify club ember or new information of lic
hello,
knowledge update
Sir, i have given the IRDA exam and soon i’ll receive my license for LIC. As i was told target is 12 policies and One Lac premium. My question is what happen if in certain year it is not done, will my license be cancelled if i did not do achieve the target first or the second year, thank you.
IT IS VERY VALUABLE INFORMATION.PLEASE GO ON.
Valuable information, i request to LIC Management, every information agent email…..
Please send me club rule.entry relaxation conditions. Fyc to renewal. Renewal to fyc
i am a lic b.m club agent.my code-04192533.what i compleet d.m club membership.
please give me in my question answer
I got IRDA Licence in 2013. I had completed 100 policies in 2 yr of agency i.e. 2013-2014 & 2014-2015. Which CLUB membership could i get?
I got IRDA Licence in 2013. I had completed 100 policies in 2 yr of agency i.e. 2013-2014 & 2014-2015. In 2013-2014 66 policies with 60 net lives with first year commission 2.8 lac & In 2014-2015 34 policies with 30 net lives with first year commission 1.7 lac. Which CLUB membership could i get?
I am the CM’s club member since 8 Yrs. For the continuation, How many lives I have to give this year. And what should be first year commission. If I give 1 lakh fist year commission and 3 lakhs renewal commission. Is it sfficient for continuation. Please clarify.
Please clarify the whole life club membership of zm or cm in lici
Please inform me about the whole life membership for Z M’S club
Please allow me to know about the settlement option of endowment policy after maturity in lici.
Whether lici’s maturity value’s settlement options are taxable?
Handicapped 75%,which policy is applicable for him from Lici age of 34years
Thanks for your valuable informations,However I have not posted any query with you but all above posts are also very useful for all my Agent freinds.
Sir plz give full details on club members benefits…….
Is there any relaxation in minimum business guarantee for agents who completed 60 years of age?
Sir plz give full details on club members benefits…….
Bm.club
B m club
I got IRDA Licence in 2012. I had completed 130 policies in per year of agency i.e. 2012-2013 commission 30000& 2013-2014.commission 220000 In 2014-2015 commission 222000 policies with 2015-2016 policies 90.commission 140000 .lapasan 90 polic Which CLUB membership could i get?
Very inspiring
hi.
I am starting in lic 07-jan-2015, this financial year (2015-16)i have net live 26 with 45000 commission. how many number or liver required for club membership entry as a new agent.
one issue about club roasters multiple policies introduced under single life and that policies
Surrendered or lapsed its deducted multiple lives in our club roasters many agents also agree my problems,
any one have how to handle this issue pls help me.
kindly replay my email id, [email protected] 9840047520
Hi, I heard that recently LIC target for number of policies reduced from 12 to 6 policies, Please confirm
i am a lic d.m club agent.my code-0038183K.what i compleet Z.m club membership.
Hi,
i am ritesh. sir DM club member ship ke liye 250 lives chahiye. main yah janana chahta hun ki Mr. A ka bima kisi Agent ne 01/2005 me kiya hai. fir Usi Mr. A ka bima 03/2006 me dubara hota hai to kya ise 1 lives gina jayega ya fir 2.
please reply now.
what is the rules and regulatios of the minimum business gaurentee relaxation for who s comleted 15 years agency service?
I AM JASPAL SINGH LIC AGENT ANY LIC POLICY PLEASE CONTACT ME 9463562760,9876951940
I AM ANMOL PLEASE SEND ME JEEWAN LAKSHAY POLICY
JASPAL SINGH LIC OF INDIA PLEASE CONTACT ANY POLICY 9876951940
I AM GANAPATHI RAO NALI, CHIEF LIFE INSURANCE ADVISER FROM LIFE INSURANCE CORPORATION OF INDIA. PLEASE CONTACT FOR LIC POLICIES LIKE PENSION SCHEMES, FINANCIAL SOLUTIONS OR TO JOIN AS AN LIC AGENT, CONTACT 09490132317
cm club old 5 year 2013-14 life630 k-401000 and 2014-15 life638 k-403000 year 2015-16 life589 k284000 year2016-17 cm club bapas lene ke lia tatget kya hoga.
cm club old 5 year 2013-14 life630 k-401000 and 2014-15 life638 k-403000 year 2015-16 life589 k284000 year2016-17 cm club bapas lene ke lia target kya hoga.
I AM PUNEET LIC 9081161
2014-15 FC100000-RC40000
2015-16 FC90000-RC50000 NOW I AM QUALIFI FOR BM
I am complete the net lives 2013-2014,2014-2015,2015-2016,116,31,57and f.y comm.193209,162267,159981and ren.comm.89260,111443,155495 lapse ratio 3.17,1.91,6 and I am d.m’s club.what I am qualified z.M’s club