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Life Insurance Corporation of India Development Officer Interview Questions, Process, and Tips
Top Life Insurance Corporation of India Development Officer Interview Questions and Answers
- Q1. Tell me some of the savings instruments available in indian financial market?
- Q2. What is you know about insurance ?
- Q3. Is Marketing is a tough job or easier one?
Life Insurance Corporation of India Development Officer Interview Experiences
9 interviews found
Selected
I applied via Job Fair and was interviewed in Apr 2023. There were 3 interview rounds.
Bank exam- QA, RA and English prelims
QA, RA, English, Insurance, Computer, GK- mains bank exam
(6 Questions)
- Q1. Interview in front of 3 member board
- Q2. Tell me some of the savings instruments available in indian financial market?
- Ans.
Some savings instruments in the Indian financial market include fixed deposits, recurring deposits, public provident fund, and mutual funds.
Fixed deposits: Offer fixed returns over a specific period of time.
Recurring deposits: Regular monthly deposits with fixed interest rates.
Public Provident Fund (PPF): Long-term savings scheme with tax benefits.
Mutual funds: Pooling money from multiple investors to invest in securit
- Q3. Tell me something about insurance and your outlook on its future as a business?
- Q4. What is the current inflation rate in India ?
- Ans.
The current inflation rate in India is around 6.26% as of September 2021.
The inflation rate in India is influenced by factors such as food prices, fuel prices, and government policies.
Inflation can impact the cost of living, interest rates, and overall economic growth.
As of September 2021, the inflation rate in India was reported to be around 6.26%.
- Q5. What is options market /options trading ?
- Ans.
Options trading is a type of trading where individuals can buy or sell options contracts based on the price movements of underlying assets.
Options give the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price before a certain date.
There are two types of options: call options (which give the holder the right to buy) and put options (which give the holder the right to sell).
Op...
- Q6. What is opinion on selling of insurance?
- Ans.
I believe in the importance of insurance as a financial tool to protect individuals and businesses from unexpected risks.
Insurance provides financial security and peace of mind in case of emergencies or unforeseen events.
It helps individuals and businesses manage risks and protect their assets.
Selling insurance requires understanding the needs of clients and providing them with suitable coverage options.
Insurance agent...
Interview Preparation Tips
- Financial Markets
- LIC
- Financial instruments
Selected
I applied via Company Website and was interviewed before Nov 2020. There were 2 interview rounds.
Interview Questionnaire
1 Question
- Q1. Insurance related questions
Interview Preparation Tips
I was interviewed in Apr 2023.
(2 Questions)
- Q1. Job profile of lic ADO
- Q2. How to approach client through agent
- Ans.
Approach client through agent by building a strong relationship and clear communication.
Establish trust with the agent first
Clearly communicate your goals and expectations
Provide necessary support and resources to the agent
Regularly follow up and provide feedback
Ensure transparency and honesty in all dealings
(2 Questions)
- Q1. How will you manage the recruitment?
- Q2. Why should we select you?
Interview Preparation Tips
Life Insurance Corporation of India interview questions for designations
Selected
I applied via Company Website and was interviewed before Mar 2022. There was 1 interview round.
(2 Questions)
- Q1. When was LIC formed ?
- Ans.
LIC, or Life Insurance Corporation of India, was formed on September 1, 1956.
LIC was formed on September 1, 1956.
It was created by the merger of 245 insurance companies.
LIC is the largest insurance company in India.
It offers a wide range of insurance and investment products.
LIC has played a significant role in the development of the insurance sector in India.
- Q2. What is you know about insurance ?
- Ans.
Insurance is a contract between an individual or organization and an insurance company, where the insurer provides financial protection against potential losses.
Insurance is a risk management tool that helps individuals and organizations protect themselves against potential financial losses.
It involves the transfer of risk from the insured to the insurer in exchange for payment of a premium.
There are various types of i...
Interview Preparation Tips
- LIC ACT
- IRDAI
- LIC Different building name
Here confidence is everything.
Get interview-ready with Top Life Insurance Corporation of India Interview Questions
Selected
I applied via Newspaper Ad and was interviewed before Feb 2022. There were 2 interview rounds.
Per and main test to be cleared.
(2 Questions)
- Q1. How I'll you do the business
- Q2. Will you be able to do a challenging role.
Interview Preparation Tips
- Life Insurance
This is challenging role , if you fail to perform, you will be terminated.
Atul Singh
I applied via Recruitment Consultant and was interviewed before Dec 2020. There were 3 interview rounds.
Interview Questionnaire
2 Questions
- Q1. As usual they were asking questions to me I am giving all answers in english language fluently like education, family members,and why you want to join ......
- Q2. In between they asked to me can you speak local language bhojpuri...?
- Ans. Then I started speak in bhojpuri fluently...they impressed ... and after that they stopped interview... that's it...
Interview Preparation Tips
I applied via Company Website and was interviewed before Jan 2020. There were 4 interview rounds.
Interview Questionnaire
4 Questions
- Q1. Reason for choosing the job.
- Q2. How would you fit into the job?
- Q3. How would you visualize the future opportunities in this job?
- Q4. Is Marketing is a tough job or easier one?
- Ans.
Marketing can be both tough and easier depending on various factors.
Marketing can be tough because it requires a deep understanding of consumer behavior and market trends.
It can be challenging to create effective marketing strategies that resonate with the target audience.
Marketing also involves dealing with competition and constantly evolving technologies.
On the other hand, marketing can be easier if there is a clear ...
Interview Preparation Tips
Interview Questionnaire
1 Question
- Q1. Why LIC? Why this job? What do you seek through this job? How you are going to be a leader for the people you are going to recruit? What knowledge do you have about the life insurance market? What exactly ...
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Anonymous
posted on 13 Sep 2024
Selected
I applied via Recruitment Consulltant and was interviewed in Aug 2024. There was 1 interview round.
(9 Questions)
- Q1. Tell me about your self.
- Ans.
Experienced business development professional with a proven track record of driving revenue growth and building strong client relationships.
Over 5 years of experience in business development roles
Successfully increased sales by 30% in previous position
Skilled in identifying new business opportunities and negotiating contracts
Strong communication and interpersonal skills
MBA in Business Administration from XYZ University
- Q2. Tell me about your last work. And other queries.
- Q3. Why are you quitting your job ?
- Ans.
Seeking new challenges and growth opportunities.
Looking for a new challenge to further develop my skills and experience
Seeking opportunities for career growth and advancement
Want to explore new industries or sectors
Desire for a change in work environment or company culture
- Q4. Why do you want to work in an insurance company?
- Ans.
I am passionate about helping individuals and businesses protect themselves from financial risks.
I have a strong interest in finance and risk management.
I enjoy working in a dynamic and fast-paced industry.
I believe in the importance of insurance in providing security and peace of mind to individuals and businesses.
I am excited about the opportunity to help clients find the best insurance solutions for their needs.
- Q5. What is insurance?
- Ans.
Insurance is a contract between an individual or organization and an insurance company, where the individual or organization pays a premium in exchange for financial protection against potential losses.
Insurance provides financial protection against unexpected events or losses.
Types of insurance include health, life, auto, home, and business insurance.
Premiums are paid by the insured to the insurance company in exchang...
- Q6. How many types of insurance ?
- Ans.
There are several types of insurance, including life, health, auto, home, and business insurance.
Life insurance covers the policyholder in case of death, providing financial support to beneficiaries.
Health insurance helps cover medical expenses, including doctor visits, prescriptions, and hospital stays.
Auto insurance protects against financial loss in case of accidents or theft involving a vehicle.
Home insurance provi...
- Q7. What is the difference between life insurance and general insurance ?
- Ans.
Life insurance provides financial protection in case of death, while general insurance covers a wide range of non-life risks.
Life insurance provides a payout to beneficiaries in case of the insured's death, while general insurance covers risks such as property damage, theft, and liability.
Life insurance is typically long-term and covers the insured's entire life, while general insurance is usually short-term and covers...
- Q8. What is IRDAI ?
- Ans.
IRDAI stands for Insurance Regulatory and Development Authority of India.
Regulatory body for insurance sector in India
Established in 1999
Protects the interests of policyholders
Promotes and regulates the insurance industry
Issues licenses to insurance companies
- Q9. Why should we select you ?
- Ans.
I have a proven track record of driving business growth through strategic planning and relationship building.
Extensive experience in identifying new business opportunities and developing innovative strategies to capitalize on them
Strong communication and negotiation skills to build and maintain relationships with clients and partners
Track record of exceeding sales targets and driving revenue growth
Ability to lead and m...
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Life Insurance Corporation of India Development Officer Interview Process
based on 9 interviews
2 Interview rounds
- Resume Shortlist Round
- One-on-one Round
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Life Insurance Corporation of India Development Officer Reviews and Ratings
based on 176 reviews
Rating in categories
|
LIC Agent
369
salaries
|  ₹0.5 L/yr - ₹7.2 L/yr |
|
Development Officer
333
salaries
| ₹3.5 L/yr - ₹12 L/yr |
|
Insurance Adviser
308
salaries
| ₹0.9 L/yr - ₹7 L/yr |
|
Agent
179
salaries
| ₹0.6 L/yr - ₹6.9 L/yr |
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LIC Advisor
176
salaries
| ₹1 L/yr - ₹6 L/yr |
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