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Agent Review



I am Y. Nageshwar Rao, aged 67years, run LIC agency business for more than two decades in business operation over these years. My journey with LIC seems predestined- after availing VRS from BHEL( which is an irrevocable mistake on my part till date)in the spur of the moment considering rumors of bhel closure too seriously, all my attempts to settle down in any stream proved me wrong time and again. Life seemed blank and future of my two kids also seemed gloomy then. One fine day , my DO came knocking on my door with a list of VRS employees , to promote agency as a part time earning opportunity . Without much thought , I jumped into the offer, more out of desperation to get started somewhere .Polite words of my DO worked like magic on me, bailing me out of financial crisis within a year. I am continuing my agency , more so to compensate for the loss I suffered by opting for VRS, foregoing all the employee benefits given by BHEL, earning the same from LIC today. Today I am able to support my family consisting of my wife, two sons with their wives and two kids each only through the income earned from agency. Neither I have any other source of earning nor any fixed assets providing income .Thank you LIC for leading me to run my show, which I am very confident to run till my end(ERC) My word for the fresh entrants- do not get carried away by the words of othersstaying long in the business now, take your decisions individually, the scope for market has expanded now in comparision to previous decades as double income families are on rise, status living preferred now, rise of nuclear families, all giving scope to us to promote high ticket policies.



Idea of taking agency struck me , to retain the commission on my husband’s policy(50 lacs) and supervise the procedural ethics followed before sanctioning of policy,to ensure smooth claim settlement at any point of time. On introducing my family in a friendly chat to the branch manager and DO during ther visit to my house, I was guided to focus more on salary saving scheme , leveraging on the access I had to companies through my father, who worked as a consultant to many of them. So far, I have introduced PA Codes 4 in nos covering around 200 lives, 3PA ‘s introduced in the very first year .Today those lives fetch me more than rs 10000/- month even after 7years. My message to all the new entrants into the field- gain comprehensive knowledge about business avenues /tools primarily and explore their feasibility to your business circle by implementing each tool only to realise your core competent area suiting your social and business circle. In my case, Salary Saving Scheme has proved to be my core competent area.



After graduating from college, I was compelled to take up family business on sudden demise of my father, only to find myself entangled in ancestral family disputes. All the happenings then made me depressed , forcing me to deal with bigger challenges early in life while my friends were trekking career path. Vengence ,anger ,frustration were seeping out day in , day out until my aunt suggested me to takeup LIC agency to switchover my attention and overcome my haplessness. From day one of taking agency, I could succeed in closing big ticket policies to the delight of my mentor. Social interactions and financial discussions with strangers on the pretext of policy smoothened by wounds toa great extent and provided t he needed guidance in planning my life. Today I am considering moving to New Zealand for a couple of years .On sharing this news with my DO with great reluctance, I was delighted to know that I could continue my agency even in foreign land during my stay irrespective of visa status, which I can never disown now. Through my experience , I realized that though agency seems a small opportunity at the outset, it brings huge dividends during our long journey, when depends on the traveler. Thank you LIC for making your contribution felt in engaging educated unemployed youth.