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Gratuity and Group Term Insurance

Group Gratuity and Group term insurance is also the benefits to LIC Agent, who are entitled to get the gratuity at age 60 or 65 years after being an LIC Agent for a minimum 15 years, presently the Maximum Gratuity amount payable is upto Rs.10 Lakhs depending up on the amount of renewal commission paid during last 15 years before the vesting age.

Agents are also covered under group term insurance and group mediclaim insurance. The coverage depends on the performance criteria of the individual agents and the clubs they occupy in LIC, it varies.