On the sidelines of the inauguration of the sales training centre in Chennai, Mr V.K. Sharma, Zonal Manager, LIC, said that the zone would achieve the target by March 31, since close to 50 per cent of business volumes are only garnered during the last quarter of the financial year.

This is due to the fact that most individuals buy insurance as an investment and as a tax saving tool, he said.

Mr D.K. Mehrotra, Managing Director, LIC, said that with 25 life insurance companies in the market selling almost similar products the distinguishing factor of companies would be on the competence level of agents. Therefore, training of agents plays a crucial role as insurance is a push product, he said.

LIC has 14 lakh agents and adds about 20 per cent agents every year.

To enhance the training of agents they have set up a post recruitment training course of which 4.5 lakh agents have been trained till December.

Earlier, minimum requirement for agents was to insure only 12 lives a year but from August last year, the requirement has been enhanced to the collection of premium to over Rs 1 lakh.

Ref :- http://www.blonnet.com/2010/01/13/stories/2010011351281900.htm