How To Become Lic Merchant | 7 Steps To Follow

How To Become Lic Merchant

Are you wondering how to become Lic merchant? If so, you’ve come to the right place! A fantastic approach to operating or growing your business is to apply to become a Lic merchant. It offers a means through which clients may quickly access their goods and services. 

It also helps your business grow by allowing you to be more competitive in the current market. Whether you’re new to Licensure or have been in the industry for some time, this post will provide all of the information needed on becoming a Lic merchant.

  • Eligibility Requirements Documents. …
  • Qualify in 10th Standard from School. …
  • Must have A PAN Card. 
  • Interview and Training. …
  • Prepare for IRDAI Exam. …
  • Appointment Letter & Interview. …
  • Attending Interview& Training will be the Officer.

In this blog post, we’ll explain exactly what it takes to become a Lic merchant and all of the benefits of undergoing such an endeavor. 

Steps You Need To Follow: How To Become Lic Merchant

1. Eligibility Requirements Documents

All merchants must provide two acceptable documents to demonstrate their eligibility – whose details must match exactly on both. These documents may include a valid driver’s License, passport, or other government-approved ID with a photograph as well as some form of a secondary document, such as vehicle registration papers or utility bills. 

Despite the number of steps taken during the process, it’s worth noting how important it is for those wishing to become merchants to have these documents ready before getting started. Doing so will help expedite the application and make becoming a Lic merchant that much smoother.

2. Qualify In 10th Standard From School

Qualifying in your 10th standard from school is the next step towards achieving this goal, as it provides you with basic life skills and knowledge of your field that will come in handy going further. 

Fortunately, getting started is easy; all you have to do is make sure you meet the minimum educational qualifications for Class 10th pass and you’ll be good to go. Once approved, trainees must keep up with the know-how of insurance products and processes which can be learned through practical exposure during on-job training. 

3. Must Have A PAN Card

Obtaining a PAN Card is a crucial step in becoming a Lic merchant. The Income Tax Department issues the 10-digit Permanent Account Number, which is used as identification documentation for a variety of financial operations. 

It helps the government track and monitor such transactions, preventing fraud and tax evasion. For merchants who are interested in joining the Life Insurance Corporation, having a PAN Card is not only beneficial but essential – it allows them to faithfully execute their duties with zero worries of any malicious activities.

4. Interview And Training

It entails obtaining an interview, followed by a thorough training program that all merchants must complete to receive certification. The first step is to contact the local Lic representative who will provide all the necessary information to arrange an interview. 

During the interview, representatives will examine both your customer service skills and your ability to manage a business profitably. Once you’ve been approved, it’s time for the training component of your journey to becoming a Lic merchant; courses cover topics like inventory management, sales techniques, and customer service.

5. Prepare For IRDAI Exam

Passing the IRDAI exam is an integral step if you are looking to become a Lic merchant. It can seem like an intimidating process but approach it with enthusiasm, dedication, and preparation and it will be easier to conquer than you expect. 

Start by studying for the test beforehand so that you can hit the ground running when the exam day finally arrives. Consult booklets from your local bookstore or online resources from IRDAI to help guide your studies. 

Do your best to stay focused on the material and keep track of what information is sticking in your head so that when quizzed, you’re ready for anything. Taking multiple practice tests can also be a great way to become comfortable with the format of the exam and boost your confidence for success!

6. Appointment Letter & Interview

After passing the exam, you will receive an appointment letter with a special code. You must now go see a development officer for a private consultation and more guidance. 

A certain development officer will be assigned to you depending on where you are. The appointment letter that you get will include information about the development officer’s name and workplace.

7. Attending Interviews & Training will be the Officer

This is the final phase in the process of becoming a Lic agent, and you are almost ready to become a respectable Lic Merchant or Agent. You’ll have another interview with the development officer. 

This time, he will provide you with some expertise, help you along the way, and explain how to begin as well as other crucial details needed to be a superb Lic agent. This time, he will impart to you useful information, which is the most priceless information.

Lic Merchant Login Process

Logging in to the Lic Merchant Account online is an easy and secure process. 

  • All users need to do is navigate to the website or open up the mobile app, enter their credentials like username or email address and password, and then click the ‘login’ button. 
  • The platform also features a two-step verification process for added security. 
  • This allows users to provide a mobile number and requests that a one-time password is sent for even greater protection of their accounts. 
  • For those who experience any issues with logging in, there are easily accessible help desk resources available to make sure each person’s account remains safe from unauthorized access. 
  • Logging in to the Lic Merchant Account is fast, secure, and headache free so you can be confident your information is safe every time.

Read Also:

Wrapping Up

Becoming a Licensed merchant has many benefits, including access to cheaper credit card processing rates and the ability to accept all major credit cards. The best course of action if you’re prepared to advance your company is to apply to become a licenced merchant. You’ll quickly achieve higher sales and earnings if you follow the instructions in this article.

Leave a Comment

close