Unlimited Income

One Can write own cheque with own working hours. An agent works on commission basis. A stated percentage of the premium collected through his agency is paid as commission.

Section 40 A (1) if the Insurance Act states that commission shall be

  • 35% of the first year’s premium
  • 7.5% of the second- and third-year’s renewal premium
  • 5% of subsequent renewal premium till maturity of policy.

Pension (life time)

As Renewal Commission life time till premium paid

If LIC agent works for 5 years,

As long as his policyholders pay renewal premiums, he or his Family Members will receive the renewal commission.(ERC & HRC)



Up to a maximum of Rs. 3,00,000/- is payable under Schedule VI of the (Agents) Rules, 1972 provided the agent has completed the business guarantee for at least 15 years called as “qualifying years”.

The total amount of gratuity payable depends upon the total number of qualifying years and the amount of renewal 8 commission he earned in the “qualifying years” out of the last 15 years of agency.

Gratuity is payable at age 60/65 or on resignation or termination for any reason other than an excepted reason, subject to fulfilment of the above condition.

Gratuity is also payable on death while agency is subsisting and the amount depends on the number of “qualifying years” completed and the renewal commission earned in the “qualifying years”.


Dream Two/Four-Wheelers

Loan with no interest, only principal amount have to pay without interest in 60 months.