The number of life insurance agents with public sector behemoth Life Insurance Corporation (LIC) of India declined by about 76,000 over the one-year period ended July 2016. For the industry as a whole, the number of agents declined by 27,000 over the same period (private sector insurers added around 50,000 agents). Insurance companies terminate agents when the latter are unable to fulfil their minimum sales target for the year. If your agent was among those who quit the industry, here is how you should deal with the situation.
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