Meet LIC Agent who earns 5 times more than Chairman’s Salary and has Net Worth of Rs. 469.7 Crore
At 17, Bharat Parekh embarked on his career as an LIC agent, facing initial societal skepticism due to preconceived notions surrounding the field. However, his unwavering drive and early exposure under a development officer at 18 laid the foundation for an extraordinary path.
Parekh’s financial achievements are remarkable. Earning five times more than the LIC Chairman back in 2013, his annual income exceeded Rs. 4 crore. This is a direct outcome of his dedication, selling around 1,000 policies annually, each averaging Rs. 2 lakh. This not only earned him millionaire status and access to luxuries but also generated a staggering Rs. 200 crore premium for LIC, the highest by any agent in the organization.
His success extends beyond personal gains. Deeply rooted in Indian traditions, Parekh has played a pivotal role in supporting his family, contributing significantly to the marriages of his five sisters. His inspiring journey, documented in his book “Adding More to Life,” serves as a valuable resource for aspiring insurance professionals.
Parekh’s story is a testament to overcoming stereotypes and unlocking the potential within the insurance industry. With over 25 years of experience, he has established himself as one of India’s most successful wealth managers. Often referred to as the “architect of human happiness,” he continues to inspire many with his unwavering dedication and achievements in life insurance.
Moreover, as of September 30th, 2023, Parekh’s portfolio boasts significant holdings in 5 publicly traded stocks, amounting to a net worth exceeding Rs. 469.7 Cr. This demonstrates his expertise in investment and wealth management, further solidifying his position as a leading figure in the financial sector.
Bharat Parekh’s journey is a powerful example of what can be achieved through determination, resilience, and unwavering commitment. His ascent from a young, ambitious LIC agent to a celebrated wealth manager and motivational figure serves as an inspiring testament to the limitless opportunities available within the insurance sector and beyond.