Research on employee's psychological contract is one issue of organization behavior research. But now there is no empirical research on structure and interrelation of psychological contract of life insurance agent. This paper is set to research the structure and interrelation of psychological contract of life insurance agent. We found that among the psychological contract of life insurance agent, organization obligation includes three factors, that is transaction, insurance and development; employee's obligation also includes three factors as skills and correspondence, care and participate, obedience and royalty; we also find that there do exist recognition difference in each factors between agents and managers.