LIC agent is the person who provides advice on Life Insurance Planning to people to protect their family from unexpected events of death, disability and retirement of the bread winner.It is a noble profession indeed.
The sum assured of all policies issued by LIC of India including any bonuses declared in respect thereof and, subject to the provisions contained in section 14 the amounts assured by all policies issued by any insurer the liabilities of which have vested in the LIC of India under this Act, and all bonuses declared in respect thereof, whether before of after the appointed day, shall be guaranteed as to payment in cash by the Central Government. Under-Section 37 of LIC ACT, 1956
1. As per report of National Council of Applied Economic Research (NCAER) 2009-10