LIC Merchant is a person appointed by LIC (Life Insurance Corporation of India). LIC Merchant acts as a bridge between the Policyholders and the Life Insurance Corporation of India (LIC). This person is appointed for collecting the premiums from the policy buyers and also provides details to the policyholders on the details of the policy and premiums.
Life Insurance Corporation of India also known as LIC is a statutory body for Investment and insurance. This comes under the Ministry of Finance (Indian Government)
The LIC merchant portal allows LIC Merchants registered on it to see their details and transactions with the organization.
The LIC merchant portal allows the LIC merchants to track their status as a Merchant, their details of past activities within the organization, and their business history. With the help of this LIC merchant portal, LIC Merchant can also submit their queries on any subject.
LIC (Life insurance corporation of India) recently started the registration of merchants. LIC conducts its business through different channels. A LIC company or entity can apply for the said Merchant License. These LIC Merchants function similarly to the LIC offices across the country which provides walk-in services to the customers.
These LIC Merchants can access the LIC System. With its help, A LIC merchant can see the details related to Policy, surrenders, loans, etc. LIC merchants can help the customers to buy or can keep them updated on the policy changes.
LIC Merchants and LIC Agents
There is a large network of LIC merchants and LIC agents in LIC. These LIC Merchants and agents work on the behalf of the Life Insurance Corporation of India. These LIC merchants and agents help the citizens in registering their insurance and collect the premiums later.
The policies sold by The LIC merchants and LIC agents benefit from the commission charge on the policies sold by them.
LIC Merchant Portal
The LIC Merchant Portal is for those LIC merchants and LIC agents who work online and who are involved in the process of premium collection by LIC India. This best LIC merchant portal helps the LIC merchants. LIC is very popular for its Insurance policies and for having many policyholders in the country. After you buy an insurance policy under LIC, You have to make payments according to the terms and conditions.
The access to LIC merchant portal can be accessed easily. This is a LIC portal which enables authorized users to have the access of the LIC merchant policy web. The main purpose of this LIC merchant portal is to collect the premiums or solutions related to premiums issues.
The services are provided online with the help of this best LIC merchant portal. With the help of this LIC Merchant Portal, the LIC merchants can check the status of their clients and policyholders without visiting them in person. In short, the LIC merchant portal has the information of the organization, policyholder, and the LIC merchants.
LIC Merchant Portal works on the following subjects
- Premium Collection Invoice
- Update on Pending Invoice
- Queries on Paid Invoice
- Deposit Invoice
- Online Invoice Payment
- Pending Invoice
- Total Sum
LIC Merchant Registration Login Procedure
If you want to register yourself online on the LIC merchant Portal, Then you need to follow the following steps-
- Visit the official online LIC merchant portal.
- A new tab will open; select the option “Merchant Portal” under “online services”.
- Select the “Login” option from the menu
- Enter the username and password.
- Provide the details
- Please re-check the provided details
- Submit the noted information.
LIC Merchant – Online Invoice Payment using Net Banking
On the LIC merchant Portal, to pay the invoices, you can use Net banking. For this purpose, you have to visit the merchant tool section and select the “pay invoice online”. All the pending invoices can be checked o the LIC merchant Portal from where you can select the pending payment accordingly and pay for it.
After the successful payment, you will be redirected to the LIC merchant Portal. You can print out the payment invoice.
How to handle LIC Merchant Complaints
To handle the LIC Merchant’s complaints, you can take the help of the LIC Merchant Complaint coordinator. These coordinators help with the complaints regarding LIC merchants, Policies, services, etc.
The complaints are filed using the LIC merchant Portal available on the official website of LIC. On the LIC Merchant Portal, One can make a complaint or can enquire about the policies and services.
Under LIC Merchant portal the complaint can be made against LIC merchant who misuses their power as LIC Merchant or against any person who files fake complaints on the LIC merchant Portal.
The complaint made on the official LIC Merchant Portal should be in consonance with the Companies act. These complaints on the LIC Merchant portal should be made according to the guidelines and policies of LIC Merchant.
Most of these complaints are handled via IMMS System but now the LIC Merchant Portal can also assist the Complaints significantly.
To handle difficulties related to the LIC merchant Portal, LIC also provides a Customer care number (022-67090501/022-67090502. This service helps the LIC Merchant Portal users who find it difficult to use the service of LIC Merchant Portal.
Positive points of LIC Merchant Portal
LIC Believes in quality customer care service that is why it never lags. The positive points of the LIC Merchant portal are mentioned below-
- Once you sign up as a LIC Merchant, you can easily work as a cashier.
- You can perform many actions with the help of the LIC Merchant Portal like viewing pending invoices, generate invoices, receipts payment and submit the transaction fee.
Benefits of being a LIC Merchant
The main benefits of being a LIC merchant are:
- You will become a part of a team where you can contribute to Life Insurance contribution.
- As a LIC Merchant, you will get assistance in Sales and Marketing strategies. You can become one of the best LIC Merchant and benefit yourself.
- As a LIC Merchant, you can earn a handsome amount and make a stable earning, you can set monetary goals for yourself after registering yourself on the LIC Merchant Portal.
- LIC Merchant is all about Customer services, you can build a healthy customer line with the Policyholders.
- As a LIC Merchant, you are free to select your goals and to choose your customer.
- LIC provides its LIC Merchants with one of the best training programs. You will have career growth.
- With a strong support system, LIC is one of the oldest service providers. As a LIC Merchant, you can access the team support and necessary tools.
How to recover your password
As you already know that the LIC Merchant can only log in on the LIC Merchant Portal with the help of Username and Password. Here are some instructions if you forget your password to log in the LIC Merchant-
- Go to the official website of LIC Merchant
- Select the option for the online services
- Select the forgot password option
- You need to enter your User ID and registered email address
- Your will sent the OTP to your official email address.
How to become a LIC Merchant/ LIC Agent
Here is a brief overview of the process on how to become a LIC agent
- Documents and Eligibility-
- To become a LIC agent/Merchant you need to be 18 years old.
- You must be an Indian Citizen
- Date of birth certificate.
- Educational Qualification – To become a LIC Agent/merchant you must pass the 10th
- Acquire a PAN (Permanent Account Number) Card
- Qualify for the IRDAI exam
Frequently Asked Questions
Q1. What is a LIC Merchant or Agent?
Ans. A LIC Merchant is appointed by the Life Insurance Corporation of India to collect the premiums and make the customers aware of the recent policies.
Q2. What is the educational qualification for becoming a LIC Merchant?
Ans. The minimum qualification needed to become a LIC Merchant is 10th.
Q3. What is LIC Merchant Portal?
Ans. The LIC Merchant Portal is an official portal launched by Life Corporation of India to help the LIC Merchants and Agents. With the help of the LIC merchant portal, the LIC Merchant can file complaints and track the policyholders.
Q4. What is LIC?
Ans. Life insurance corporation of India is an Indian investment corporation. It is regulated and supervised by the Ministry of Finance, Government of India.
Q5. Can I earn money if I become a LIC Merchant?
Ans. Yes, you can earn a handsome amount as a LIC Merchant/ Agent.