LIFE INSURANCE CORPORATION OF INDIA (LIC) Engagement of Direct Sales Executives
Approximately 2083 Direct Sales Executives are proposed to be engaged by various Offices of the Corporation purely on Contract basis for 3 years under the jurisdiction of Western Zonal Office. The number of engagements may be changed during the selection process depending on the requirements of the office.
JOB REQUIREMENT:
It is primarily a Marketing job. The DSEs shall be directly responsible for Procuring New Business, Providing Policy Servicing and related jobs from the areas allotted to them. They shall also carry out any other instructions given to them from time to time. For this purpose considerable movements including tours covering entire area allotted to them are involved.
ELIGIBILITY CONDITIONS:
a) Qualification:
Applicant shall possess the Bachelor’s Degree of a University established in India under a statute. Preference may be given to those applicants who possess a Bachelor Degree or Diploma in
Marketing /Management. Good working knowledge of English and also one Regional language preferably local language is desirable. Knowledge of soft skills such as Power Point / Word / Excel would be additional advantage.
The applicant shall have completed 21 years of age and not more than 35 years of age as on 01.05.2011 (cut-off date).
REMUNERATION:
Direct Sales Executives, on engagement will be paid monthly remuneration, which will be entirely performance based. The quantum is dependent on DSE’s achievement of specific business benchmarks and performance of assigned tasks to the satisfaction of Corporation.
SELECTION PROCEDURE
a) Selection will be made on the basis of a written test (if necessary), followed by an Interview of candidates who qualify in the written test. Written Test (if any) may be held at the centre where Direct Marketing Unit applied for is located. The written test (if any) will be of Objective Type covering Sales aptitude Test of Reasoning, Numerical Ability and General Knowledge. The date and venue of the written test, if to be conducted, will be communicated to the eligible candidates through email and also
posted on the website www.licindia.in under link “Careers” and then “ENGAGEMENT OF DIRECT SALES EXECUTIVES”. Candidates are advised to check the site for this purpose.
b) Interview: Candidates successful in the written test (if conducted) or eligible candidates will be called for an Interview. The Corporation reserves the right to restrict the number of candidates to be called for written test and/or interview commensurate with number of Direct Sales Executives to be engaged and the decision of the Corporation in this regard shall be final. No correspondence will be entertained in this regard.
c) The selected candidates subject to their being found medically fit by the Medical Examiner authorized by LIC for the purpose will have to undergo Theoretical training and pass IRDA licensing test for obtaining a license to procure Life Insurance Business within a maximum period of three months in maximum three attempts, following which he may be engaged as an apprentice Direct Sales Executive.
d) As an apprenticeship DSE, the candidate shall have to undergo insurance related training and pass a test on the same. The apprentice DSE shall be paid a fixed one-time stipend of Rs 3500/- (Rs. Three thousand five hundred only) as per rules of the Scheme.
e) On successful completion of the apprenticeship and passing the test, the candidate shall be engaged as a Direct Sales Executive purely on contract basis subject to conditions framed by the Corporation.
f) The selected candidate will be allotted specific area of operation during the period of engagement based on Business requirements.
g) It is clarified that selection as a Direct Sales Executive does not confer any right on the candidate to be
appointed as an employee in the Corporation.
APPLICATION FEES (NON-REFUNDABLE):
For all candidates (other than SC/ST category): Rs.100/- (Rs. One hundred only). The application fee shall be paid by cash only at the cash counter during cash hours only of any Branch office of Life Insurance Corporation of India under Account Code 114034.
HOW TO APPLY:
Candidates are necessarily required to apply On-line through LIC’s website under the heading “Careers” http://www.licindia.in/careers.htm. No other means/mode of applications will be accepted.
The application process will be in following stages:
I. Applicants are first required to go to the LIC’s website www.licindia.in and click on the “Careers” to open the link “ENGAGEMENT OF DIRECT SALES EXECUTIVES”. Thereafter, open the Recruitment Notification and take a print out of the entire Recruitment Notification. The candidate shall visit the nearest LIC Branch Office and make the payment of application fee of Rs. 100/- in cash (not applicable for SC/ST candidates). No other mode of payment shall be acceptable. “Miscellaneous receipt” issued by the LIC of India in token of the fees collected will have to be submitted with the call letter at the time of the written test / interview. Without the Miscellaneous Receipt, the candidate will not be allowed to appear in the written test / interview.
Programme Dates:
Opening date for Collection of fees at Branches of LIC: 06.04.2011
Opening Date of On-Line Registration 07.04.2011
Last Date for acceptance of Application Fees 25.04.2011
Closing Date for On-line Registration 26.04.2011
For details visit:
About LIC
The Life Insurance Corporation of India (LIC) is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 9.31 trillion (US$206.68 billion). It was founded in 1956 with the merger of more than 200 insurance companies and provident societies.
Headquartered in Mumbai, financial and commercial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 101 divisional offices located in different parts of India, at least 2048 branches located in different cities and towns of India along with satellite Offices attached to about some 50 Branches, and has a network of around 1.2 million agents for soliciting life insurance business from the public.
The Oriental Life Insurance Company, the first corporate entity in India offering life insurance coverage, was established in Calcutta in 1818 by Bipin Bernard Dasgupta and others. Europeans in India were its primary target market, and it charged Indians heftier premiums. The Bombay Mutual Life Assurance Society, formed in 1870, was the first native insurance provider.
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