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LIC agents earn Rs 14,220 cr in Apr-Dec 2019, twice as much as MF sellers

Commissions paid by LIC on first-year premiums grew at a sharp pace of 46% YoY in December quarter

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Jash Kriplani Mumbai
Agents selling products of Life Insurance Corporation of India (LIC) have garnered Rs 14,220 crore in gross commissions in first nine months of 2019-2020, which is 1.8-times of what the mutual fund (MF) distributors made for the entire FY19. 

According to disclosures made by LIC, commissions paid on first-year premiums grew at a sharp pace of 46 per cent year-on-year in the December quarter. The first year premiums for December quarter stood at Rs 2,977 crore.  

According to industry participants, the scrapping of upfront commissions by the Securities and Exchange Board of India (Sebi) -- which incentivised MF distributors in

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First Published: Feb 26 2020 | 5:46 PM IST

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