LIAFI-SG/CO-031/14 22
February 2014
Shri. S.K.
Roy,
Chairman,
L.I.C. of India, Central Office,
“Yogakshema”,
Jeevan Bima Marg,
P.B.
NO-19953,
MUMBAI-400
021
Dear Sir,
Sub: Implementation- Gazette of India-NO-48 dated 18-02-2013.
Payment of Commission
to Agents:
We waited for the introduction of New Plans with an ardent hope that the
new concept of payment of commission will be incorporated. Unfortunately the
actuarial department followed the cited Gazette in all other aspects except payment of commission. We fail
to understand why the Mgt. always neglects the Agents.
The Plans New Endowment (814), New Moneyback Plans (820 & 821),
Anmol Jeevan II (822) and Amulya Jeevan II (823) which were introduced did not contain
the commission rates as per annexure-.1 We request you not to deprive the new
concept of commissions. We also request you to incorporate the commission
clause while preparing new plans. We
lost about 40% commission in New Money back Plans. The loss is not
compensated in any form. We are unhappy at this development.
Policies on Minor
Lives:
It is clearly stated in the Gazette that “for policies issued on Minor
life, the date of commencement of policy and date of commencement of risk shall
be same”. We enclosed at annexure-2. This condition is not implemented in
single premium Endowment Plan (817). We request you to get this Rule
implemented in Plan No 817 as well as new children plans in the offing.
We brought these points to the notice of ED (Mktg) in the meeting held
with us on 17-02-14. We passionately wait for your favourable action.
Thanking you,
Sincerely yours,
For Life Insurance Agents
Federation of India
NGajapathiRao
Secretary General
No comments:
Post a Comment