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Life Insurance Corporation of India SM salaries in India

Annual salary range
5 - 16 years exp.
₹3 Lakhs - ₹4.8 Lakhs
Low Confidence
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Low confidence means that this average salary is based on data that was reported by very few people.
Salary of majority employees
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54% less than the average SM Salary in Insurance Companies for 5 - 16 years of experience

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Last Updated: 10 Feb 2024

Companies similar to Life Insurance Corporation of India for SM

Company name Avg Annual Salary Open Jobs
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Axis Max Life Insurance SM Salary

1 - 10 years exp. (15 salaries)

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₹3.1 L/yr - ₹5.5 L/yr

arrow icon 6% more
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Kotak Mahindara Life Insurance SM Salary

2 - 6 years exp. (13 salaries)

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₹3.3 L/yr - ₹4.5 L/yr

arrow icon 4% less
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Bajaj Allianz Life Insurance SM Salary

0 - 6 years exp. (11 salaries)

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₹2 L/yr - ₹3.5 L/yr

arrow icon 31% less
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HDFC Life SM Salary

1 - 17 years exp. (10 salaries)

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₹3.8 L/yr - ₹5.3 L/yr

arrow icon 7% more
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Aditya Birla Health Insurance Co SM Salary

3 - 9 years exp. (9 salaries)

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₹3 L/yr - ₹4.5 L/yr

arrow icon 11% less
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HDFC Ergo General Insurance SM Salary

0 - 6 years exp. (9 salaries)

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₹3.1 L/yr - ₹4.2 L/yr

arrow icon 10% less
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₹5.1 L/yr - ₹7.1 L/yr

arrow icon 59% more
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Cholamandalam MS General Insurance SM Salary

2 - 9 years exp. (5 salaries)

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₹3 L/yr - ₹4.2 L/yr

arrow icon 12% less
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Bajaj Allianz General Insurance SM Salary

3 - 12 years exp. (5 salaries)

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₹1.9 L/yr - ₹6 L/yr

arrow icon 10% more
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Reliance Nippon Life Insurance SM Salary

1 - 9 years exp. (4 salaries)

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₹2.3 L/yr - ₹2.5 L/yr

arrow icon 43% less
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ICICI Prudential Life Insurance SM Salary

2 - 4 years exp. (3 salaries)

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₹6.5 L/yr - ₹7.1 L/yr

arrow icon 73% more
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Shriram Life Insurance SM Salary

3 - 7 years exp. (3 salaries)

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₹2.3 L/yr - ₹3.2 L/yr

arrow icon 35% less
SM salary at Life Insurance Corporation of India ranges between ₹3 Lakhs to ₹4.8 Lakhs per year for employees with experience between 5 years to 16 years. Salary estimates are based on 4 latest salaries received from various employees of Life Insurance Corporation of India.

Latest annual salaries shared by Life Insurance Corporation of India SM

10mo ago
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16 years exp.
1y ago
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5 years exp.
1y ago
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15 years exp.
1y ago
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11 years exp.

Experience wise Life Insurance Corporation of India SM salaries

Last Updated: 10 Feb 2024

Experience Avg Annual Salary
5 years (AmbitionBox Estimate)

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₹1.5 L/yr - ₹4.3 L/yr
6 years (AmbitionBox Estimate)

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₹3.4 L/yr - ₹4.3 L/yr
7 years (AmbitionBox Estimate)

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₹3.5 L/yr - ₹4.4 L/yr
8 years (AmbitionBox Estimate)

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₹3.5 L/yr - ₹4.5 L/yr
9 years (AmbitionBox Estimate)

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₹3.6 L/yr - ₹4.6 L/yr
View all

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₹0.5 L/yr - ₹4.5 L/yr
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₹0.7 L/yr - ₹6.5 L/yr
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₹1 L/yr - ₹5 L/yr
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₹1.2 L/yr - ₹5.05 L/yr
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₹0.6 L/yr - ₹4.8 L/yr
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₹0.6 L/yr - ₹5 L/yr

Salary related reviews for Life Insurance Corporation of India

Full Time

 · 

Sales & Business Development Department

5.0
  •  posted on 21 Sep 2023

3.0
 for  Salary and Benefits

Likes

Job Performing Flexibility.

  • Job security - Excellent
  • +3 more

Dislikes

...e Teams. 2. Other benefits, which are not upto the standards or satisfaction. 3. No Festival bonuses/ annual bonuses. 4. No Family bonus 5. No clarity about Pension

read more
  • Promotions - Poor

Full Time

 · 

Sales & Business Development Department

1.0
  •  posted on 20 Feb 2023

3.0
 for  Salary and Benefits

Likes

Good company in terms of the pay and benefits, but at a heavy price.

Dislikes

All the rules and restrictions/punishment are imposed only on class 2 officers of the organisation. Targets are imposed only on development officers.

read more
  • Skill development - Poor
  • +5 more

Full Time

 · 

Sales & Business Development Department

3.0
  •  posted on 31 Oct 2022

4.0
 for  Salary and Benefits

Likes

Daispora of LICI. Salary and Perks. Free to work.

  • Salary - Good
  • +1 more

Dislikes

No job security at ADO/PDO post. Work life balance (what is it ?). Forget about help from colleague. If you are from sound and wealthy background just dive in.

read more
  • Job security - Bad
  • +4 more

Part Time

 · 

BFSI, Investments & Trading Department

5.0
  •  posted on 18 Oct 2023

4.0
 for  Salary and Benefits

Likes

Self defined working hours with dignity and job security. More you work more you earn just like business. No fraudulent on system level. It's cool to work with world biggest life insurance company as I think it is.

read more
  • Salary - Good
  • +6 more

Dislikes

Salary is not being provided to the agent as they work hard and fail some time to get new business. One more thing to be addressed is all services should be available at all office for the agent as collect the required forms, and to submit loan,neft request for the client benefit.

read more

Part Time

 · 

BFSI, Investments & Trading Department

5.0
  •  posted on 13 Oct 2023

4.0
 for  Salary and Benefits

Likes

You are always thinking about the lic customers and give importance to the customers and immediately settlement option after policy maturity.l like that

read more
  • Salary - Good
  • +6 more

Dislikes

...es and more benefits from mutual fund.So many people thinking this long period . some people I loss my money from lic ,we have to pay two years but they are not giving back my money.this is my survey till now.

read more
see more salary related reviews

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Life Insurance Corporation of India SM Salary FAQs

What is the salary of SM at Life Insurance Corporation of India ?
The average salary of a SM at Life Insurance Corporation of India in India typically ranges from ₹3.0 Lakhs to ₹4.8 Lakhs per year, depending on experience (from 5 years to 16 years).

The top 10% of SM at Life Insurance Corporation of India earn more than ₹4.8 Lakhs per year, and the top 1% earn over ₹4.8 Lakhs per year. SM Salaries at Life Insurance Corporation of India can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 4 Life Insurance Corporation of India employees in India.
What is the estimated take home salary of a SM at Life Insurance Corporation of India in India?
The estimated take-home salary of a SM at Life Insurance Corporation of India in India typically ranges from ₹30,361 to ₹31,670 per month. This is based on the average salary range of ₹3.0 Lakhs to ₹4.8 Lakhs per year for employees with experience ranging from 5 years to 16 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 4 salaries received from various employees of Life Insurance Corporation of India. Check how we calculate in-hand salary with our in-hand salary calculator.
Which companies offer higher salaries than Life Insurance Corporation of India for SM in India?
ICICI Prudential Life Insurance ₹6.5 Lakhs to ₹7.1 Lakhs per year
ICICI Lombard General Insurance Company ₹5.1 Lakhs to ₹7.1 Lakhs per year
Bajaj Allianz General Insurance ₹1.9 Lakhs to ₹6.0 Lakhs per year
HDFC Life ₹3.8 Lakhs to ₹5.3 Lakhs per year
Axis Max Life Insurance ₹3.1 Lakhs to ₹5.5 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Life Insurance Corporation of India, depending on the role and experience level.
What is the salary of a SM in companies similar to Life Insurance Corporation of India in India?
The salary of a SM at companies similar to Life Insurance Corporation of India in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Kotak Mahindara Life Insurance ₹3.3 Lakhs to ₹4.5 Lakhs per year
HDFC Ergo General Insurance ₹3.1 Lakhs to ₹4.2 Lakhs per year
Aditya Birla Health Insurance Co ₹3.0 Lakhs to ₹4.5 Lakhs per year
Cholamandalam MS General Insurance ₹3.0 Lakhs to ₹4.2 Lakhs per year
Bajaj Allianz Life Insurance ₹2.0 Lakhs to ₹3.5 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.
How the salary growth look like for a SM at Life Insurance Corporation of India in India?
The salary growth for a SM at Life Insurance Corporation of India depends on factors such as experience, performance, and promotions. On average, a SM can expect the following growth trajectory at Life Insurance Corporation of India:

Experience Average Salary Range
5 years ₹1.5 Lakhs to ₹4.3 Lakhs per year
6 years ₹3.4 Lakhs to ₹4.3 Lakhs per year
7 years ₹3.5 Lakhs to ₹4.4 Lakhs per year
8 years ₹3.5 Lakhs to ₹4.5 Lakhs per year
and so on.

Tell us how to improve this page.

Life Insurance Corporation of India SM salary in India ranges between ₹3 Lakhs to ₹4.8 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 4 Life Insurance Corporation of India latest salaries received from various employees of Life Insurance Corporation of India.