LIC procured 94.78 per cent of new business premiums through agents, showing the huge dependence on agents. However, the company faces high attrition and it terminated services of over two lakh agents, which equals 16.59 per cent of its individual agent network in FY21. In the six months of FY22 ended September 31, 2021, the company had terminated services of over 1.34 lakh agents representing 9.20 per cent of the network.