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.,

SUCCESS TRIANGLE

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

GOLD MINE

..\DT\Welcome SBM\Gold Mine.doc

Types of Prospects & Their Mentalities

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.

EKMK

POPULAR QUESTIONS

• WHY LIFE INSURANCE?

• HOW MUCH INSURANCE?

• WHICH IS THE BEST POLICY

WHY LIFE INSURANCE?

• ADAM SMITH THEORY:

• CREATION

• CONSUMPTION

• CONSERVATION and

• CONTINUATION of Income

HOW MUCH INSURANCE ?

• CAPITAL NEED ANALYSIS

• HUMAN LIFE VALUE• NET WORTH

CAPITAL NEED ANALYSIS

• SALARY Rs 12,000/-

• SPENT ON

SELF=Rs.2,000/-

• TO FAMILY=Rs.10,000/-

C.N.A. Contd..

UPON DEATH, FAMILY LOSES:

LOVE

AFFECTION

LEADERSHIP

AND RUPEES

10,000/-

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

WHICH IS THE BEST POLICY

• NEW JEEVAN ANAND

• NEW MONEY BACK

• NEW ENDOWMENT

• NEW JEEVAN AKSHAY

• NEW BIMA BACHATH

• RETIRE & ENJOY - ! & 2…etc.