INTRODUCTION• ABOUT LIC
• Nature of business
• History of the Corporation
• Total Income: 2,99,273 Cr
• Total Premium Income: 2,03,358 Cr
• Total Life Fund: 11,51,200 Cr
• Total Surplus:Rs.23,890 Cr
• Total Assets 13,17,416 Cr.
• Total payments Rs.57,558 Cr(MC+DC)(SV – 49,792 Cr)
.
• Claims settled: 1.90 Cr• Maturity Claims settled before date: 96.21%• O/S claims ratio : 1.18% (Amount)• O/S claims ratio : 0.40% (Number)• LIC settles 70,000 claims every day i.e., 2.77claims
per sec• World No.1 in No. of Policies & Claims settlement• 8 Zones, 113 divisions and 3,500 BO/SO/Customer
zones connected through MAN,WAN • 28.6 Cr. Policy holders (Only 4countries in the
world has the population more than 28cr) .
• ABOUT AGENCY CAREER:-• Benefits,• Commission,• Club benefits & rules clubrules.ppt
• ABOUT MARKET:-
Other financial products
Competitor’s products. etc.,
PROSPECTS LIST• BASIS FOR PREPARING
LIST RELATIVES :-
Father,Mother,Wife,
Brothers,Sisters,Sons &Daughters.
FRIENDS:- Classmates from childhood,
co-workers(present & past) &other friends
• CLIENTS if already engaged in business or proffession
• PERMANENT LIST:• Village wise, Segment
wise, Income group wise.• DAY LIST(extracted from
Permanent list for that day)
• UPDATING THE PERMANENT LIST ON A DAY TO DAY BASIS
Only the Last
• 44% - Give up on 1st Objection
• 22% - Give up on 2nd Objection
• 16% - Give up on 3rd Objection
• 10% - Give up on 4th Objection
• 92% - Give up by 4th Objection
• 8% - Get the Order
• 73% customer put a minimum of 4 objection before buying anything from a salesmen
• Including you and me
Objections Handling
• I am already insured
• I don’t need insurance.
• Let me consult my CA/Wife.
• I don’t have money
• Rebate.
WHY LIFE INSURANCE?
• ADAM SMITH THEORY:
• CREATION
• CONSUMPTION
• CONSERVATION and
• CONTINUATION of Income
Arrange for Cash 15,00,000 today
Arrange for Property 15,00,000 today
Arrange for Gold Jewelry 15,00,000 today
Shares/bonds/NSC, PPF 15,00,000 today
Own a LIC Policy 2,000 p.m.
HUMAN LIFE VALUE
• BALANCE EARNING SPAN IS 20 YEARS
• @10,00,000/PA. FUTURE EARNINGS WILL BE Rs.2,00,00,000/-
NET WORTH = -65
LIABILITIES• EDUCATION = 60• MARRIAGE =60• EMERGENCY = 10• LOANS =20• PENSION =50
TOTAL =200
ASSETS• LAND&
REAL ESTATE =60• SHARES,DEBs =10• HOUSE =20• SUNDRYASSETS =10
TOTAL =100