newplan 826 jeevan shagun single plan term12 years only, age at entry 8 to 45, insurance cover 10 times of the premiume
vinay mohanty
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newplan 826 jeevan shagun single plan term12 years only
newplan 826 jeevan shagun single plan term12 years only, age at entry 8 to 45, insurance cover 10 times of the premiume
vinay mohanty
CM's convention dates
FLASH!
CM's club convention to b held as following manner:
10/10/2014 West and Central Zone at GOA
14/11/2014 South and South Central Zone at COCHIN
26/11/2014 East and East Central Zone at KOLKATA
02/12/2014 North and North Centarl Zone at JODHPUR
regards
vinay mohanty
CM's club convention to b held as following manner:
10/10/2014 West and Central Zone at GOA
14/11/2014 South and South Central Zone at COCHIN
26/11/2014 East and East Central Zone at KOLKATA
02/12/2014 North and North Centarl Zone at JODHPUR
regards
vinay mohanty
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LETTER TO NIRMALASITHARAMAN REGARDING AGENTS DEMENDS
LIAFI-SG/CG-070/14 22
August 2014
Smt. Nirmala Sitharaman,
Misnister of State for Finance,
Camp Visakhapatnam
Respected Madam,
Sub: Issues concerning LIC Agents-reg.
We
are representing around 11 lakh LIC Agents off our Country. We have issues to
be addressed by the Ministry of Finance. The previous Government could not find
solution to the following issues.
Gratuity: LIC recommended to GOI for enhancing gratuity of LIC Agents from Rs. 2 Lakh to Rs. 3
Lakhs. The decision is pending with Ministry of Finance since two years. Kindly expedite the enhancement.
Professional Recognition: Though
we are also professionals, we are not recognised by GOI like Engineers,
Doctors, Advocates, and Chartered Accountants etc. Many state Governments are
forcibly collecting Professional Tax from us with out any recognition. We request you to recognise Insurance
Agents (including Private) as professionals.
Welfare Fund: Agents are not
covered under any welfare measures. The Management refused to earmark Rs. 100
Cr. one time for Welfare Fund. This
refusal was tabled in Parliament when a Private Member raised this issue. We request you to create Welfare Fund for
Agents.
We
hope you will bestow special attention to solve these issues.
Thanking
you,
Sincerely
yours,
For
Life Insurance Agents’ Federation of India
Secretary
General
vinay mohanty
15th GENERAL COUNCIL AT SILIGURI
LIAFI-SG/GL-066/14 7
August 2014
To,
LIAFI
Office Bearers,
Zonal
Leaders/ LIAFI EC Members,
Divisional
Presidents / Secretaries,
Dear Sirs,
Sub: 15th GENERAL
COUNCIL AT SILIGURI-ADVANCE
INTIMATION-REG
I am pleased to inform you all
that 15th General Council will be held at SILIGURI, (West Bengal) on
7th , 8th and 9th November 2014. The delegate fee will be Rs.
2200/- tentatively. Venue, agenda and exact delegate fee will be informed
later. This advance letter is posted to you for communicating to all in your
areas and to enable you to plan your journey. The information of delegate fee is
to have an idea.
The railway station name is NEW JALPAIGURI (NJP). The airport name
is BAGDOGRA. Siliguri is base town for Darjeeling, Gangtock, Nepal and various other site seeing places.
I request you all to mobilize
maximum delegates for participation in the 15th General Council
Meeting.
Thanking you,
Sincerely yours,
N. Gajapathi Rao
vinay mohantychairman convention may be held at 4 places as per letest news
chairman convention may be held at 4 places tentatively December 2014
1. jodhpur: North cental and Northern zone
2. Cochin : Sauthcental and sauth zone not eat conformed
3. kolkota: east and east cental zone
4. Goa: west cental westarnzone
vinay mohanty
1. jodhpur: North cental and Northern zone
2. Cochin : Sauthcental and sauth zone not eat conformed
3. kolkota: east and east cental zone
4. Goa: west cental westarnzone
vinay mohanty
letter to SKRoy lic chairman
LIAFI-SG/CO-067/14
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: Jeevan Rakshak (Plan No. 827)
After 6 & 1/2 months gap LIC could release the cited Plan. Though this plan caters to the needs of low-income group people, the returns are not assured. This plan is eligible for only Loyalty Addition that too after completion of fifth policy year. It is unfortunate that bonus is not announced.
We feel that the management is reducing commission to Agent slowly and gradually. The Agents’ commission is reduced in half of the policies introduced from 1 January 2014. Austerity measures effected in case of Agents only by making them scapegoats. Though IRDA was kind to declare good commission rates for Agents, instead of implementing them the Management is curtailing commission rates.
Our Agents are not at all happy at the meager or nil returns to policyholders and less commission to Agents. We request you not to bulldoze Plans without good returns to policyholders and good commission rates to Agents. Though LIC failed to bring in no of Plans by 1 January 2014, we are trying our best to keep the LIC Flag high. Unless the policyholder and the Agent are satisfied, any plan cannot be successful.
Thanking you,
Sincerely yours,
For Life Insurance Agents Federation of India
Secretary General
vinay mohantyletter to Sri arun jetly finance minister
20-08-2014
To
Shri. Arun Jaitley
Union Minister for Finance & Defence
Govt. of India, New Delhi
Hon’ble Sir,
Re. :- Varishtha Pension Yojna
We have come across an advertisement issued by the LIC announcing the
prelaunch of Varishtha Pension Yojna for the period 15th Aug. 2014 to 14th Aug. 2015,
which in the new package announces 9% effective yield per annum for monthly pension
(which is equivalent to 9.38 per annum)
While we are happy that the government is committed to the welfare of the senior
citizens of the country, I recall that even the earlier similar scheme which was launched
in the Mumbai in Jan. 2003 in the presence of Shri. Atal Bihari Vajpayee, former Prime
Minister of India though physically at Delhi with great fanfare it was hailed as a great
breakthrough in terms of benefits and interest in comparing better then the prevalent
bank rate. I am constraint to compare the above scheme with the present Varishtha
Bima Yojna and find that the new scheme is certainly very backward step in terms of
benefits and yield to senior citizens.
The needs of senior citizens and pensioner are a far wider concept today
particularly in view of the emerging trends in pensioner products since there are vastly
changed positive announcements being regularly made by the present government. As
far as LIC is concern there level of servicing is far better than the similar products being
sold by private insurers. Even the services given by bank cannot be compare with our
servicing. In order to make it attractive the returns should be a minimum of 9.8 to 10 %.
Unless it is done immediately pensioners will not invest their hard earned money.
Besides, No advertisement should be published for this products wasting the public
money they should instead, trained agents which will be more beneficial involving lesser
cost. Similarly there should no hassle at the time of policyholders getting money either
by redemption or exit at present withdrawal is not smooth in LIC of India.
Even a cursory look at the advertisement release by LIC does not give a very
positive picture about assured return or the payment period or at the time of demise of
pensioner when nominee faces all sorts of difficulties. Though it is claimed that this is
government scheme is greatly subsidized with the LIC is the exclusive administrative
but it is likely to flop if view points of agents are not heard and responded immediately.
Yours faithfully
(H. M. JAIN)
executive committee meeting at ahamedabad venu address
All Office Bearers of LIAFI,
All Zonal Office Bearers,
All E.C. Members of LIAFI,
Divisional Presidents / Divisional Secretaries
Sub: 70TH Executive Committee Meeting
Further to the Short Messages given, the 70TH Executive Committee Meeting of LIAFI will be held on 11-09-14 at AHMEDABAD, Gujarat. All the above members are requested to attend the meeting. The meeting will commence at10 AM on 11-09-2014. Entry is restricted to MEMBERS only
Venue: HOTEL NEELKANTH PARADISE, OPP. TOWN HALL, ELLIS BRIDGE CROSS ROAD, AHMEDABAD,
|
Agenda
- President’s Address.
- To read and confirm the minutes of 69TH ECM held at VIZAG, on 27th & 28th May 2013.
- To consider and adopt the Treasurer’s report, statement of accounts, audited balance sheet for the year 2013-2014.
- To consider and adopt Secretary General’s Report.
- To evolve procedure for celebration of GOLDEN JUBILEE year of LIAFI.
- To carry forward various amendments previously approved by the executive committees to 15th General Council
for adoption.
- To deliberate on the recent changes in Insurance Sector through IRDA, LIC and Govt. of India and its’ effect on Agents.
- Organizational and Financial Planning for the Year 2014-2015.
- President’s Closing Remarks.
- Vote Of Thanks.
Delegate Fee: Rs.1700/- with lodging from 10-09-14 noon to 12-09-2014 noon.
Boarding: 10-09-2014 dinner to breakfast on 12-09-2014
The following are contact persons:
SHRI. H.K. MEHTA
|
SHRI. MILAP SHAH
|
SHRI. RAMESH BHAI PATEL
|
09426342921
|
09824040016
|
09426577668
|
By Order
SD.
N. Gajapathi Rao
Secretary General
vorista bimayojana circular
click on billow link:-
https://drive.google.com/file/d/0B4cAKH6h4-1jSDFKQVFzU0lLSHM/edit?usp=sharing
vinay mohanty
https://drive.google.com/file/d/0B4cAKH6h4-1jSDFKQVFzU0lLSHM/edit?usp=sharing
vinay mohanty
Campaign for Revival of Policies is back from 16th August
Good Morning,
Campaign for Revival of Policies is back from 16th August.
You can revive policies which are lapsed for more than 5 years and
also policies which are in lapsed condition for which PPT is completed
and Policy term is not yet over. Make best use of the opportunity.
vinay mohantylic new plan 827 jeevan rakshak
click on below link download 2 pdf files about new plan,ready recko
https://drive.google.com/folderview?id=0B841JMzxVtCDYmhqVEVQNG9ibE0&usp=sharing
vinay mohanty
https://drive.google.com/folderview?id=0B841JMzxVtCDYmhqVEVQNG9ibE0&usp=sharing
vinay mohanty
the FDI limit in the insurance sector to 49 percent is expected to benefit the companies first and consumers later.
he Cabinet's approval to increase the FDI limit in the insurance sector to 49 percent is expected to benefit the companies first and consumers later.
Experts said that the move will bring the much needed long-term capital into the companies, but it will take time for them to introduce newer products and services for the consumer.
The increase in the limit has come with a rider that the management control will remain in the hands of Indian promoters. The amendment to the Insurance Laws (Amendment) Bill will now be taken up in Parliament.
According to KPMG, the higher cap could fetch investments up to Rs 25,000 crore.
"Once there is proper clarity on the interpretation of control by Indian promoter, the additional foreign capital expected across life, health and general insurance companies is between Rs 20,000 to 25,000 crores," Shashwat Sharma, KPMG (India) Partner, said.
Welcoming the government's move Kshitij Jain, MD & CEO, Exide Life Insurance, said the Indian private life insurance companies have in the last 12 years received over Rs 34,000 crores of capital.
The capital requirement to fuel growth over the next 5-10 years will be as much or more, he said.
"With an increase in the limit, the insurance industry expects to get not only the capital but also technical and product expertise of foreign partners. FDI in insurance would also increase the penetration of insurance in India, where the penetration of insurance is abysmally low," Jain said.
The insurance sector was opened up for private sector in 2000 after the enactment of the Insurance Regulatory and Development Authority Act, 1999.
This Act permitted foreign shareholding in insurance companies to the extent of 26 per cent with an aim to provide better insurance coverage and to augment the flow of long-term resources for financing infrastructure.
However, as the companies expanded their capital requirement also increased. Lack of funds has limited the ability of these companies to increase the insurance penetration in the country.
Deepak Yohannan, CEO, MyInsuranceClub.com, says that the companies will now be able to spend on product innovation and providing better services.
"Though there is no direct correlation in FDI capital inflow to end consumer, in the long run, consumers will benefit with better products and service. Companies will have more capital for improving technology, innovation, processes and training of agents -- the things they could not do due to limited capital earlier," he said.
He, however, expects such benefits for consumers to come in only in the long run.
Yashish Dahiya, co-founder and CEO, Policybazaar.com, concurs that the companies should now be able improve their product offerings.
"I am expecting better quality products to come into insurance space, with more capital coming in," he said.
However, a section of the experts also had a word of caution for the companies.
“Many international insurance companies will enter India, after all we not only have more volumes but also growth potential. This means, there will be another bout of increased competition among players, due to which companies will face margin pressures," Rahul Aggarwal, CEO, Optima Insurance Brokers told Firstbiz.
But that is just a concern in the long term. As of now, there is enough scope for growth for all the companies because, as Jain of Exide Life Insurance says, penetration of insurance in the country is abysmally low. According to him, insurance premium is at about 3 percent of the GDP as against the global average of about 8 percent.
That is the reason the companies are so bullish about this decision. They expect more multinational companies to flock to India to tap this potential.
All in all, it is advantage insurance companies first. Consumers will have to wait a little longer for the benefits.
(Bindisha Sarang contributed to this report)
vinay mohanty
.jpg)
15th GENERAL COUNCIL AT SILIGURI-ADVANCE INTIMATION-REG
LIAFI-SG/GL-066/14 7
August 2014
To,
LIAFI
Office Bearers,
Zonal
Leaders/ LIAFI EC Members,
Divisional
Presidents / Secretaries,
Dear Sirs,
Sub: 15th GENERAL
COUNCIL AT SILIGURI-ADVANCE
INTIMATION-REG
I am pleased to inform you all
that 15th General Council will be held at SILIGURI, (West Bengal) on
7th , 8th and 9th November 2014. The delegate fee will be Rs.
2200/- tentatively. Venue, agenda and exact delegate fee will be informed
later. This advance letter is posted to you for communicating to all in your
areas and to enable you to plan your journey. The information of delegate fee is
to have an idea.
The railway station name is NEW JALPAIGURI (NJP). The airport name
is BAGDOGRA. Siliguri is base town for Darjeeling, Gangtock, Nepal and various other site seeing places.
I request you all to mobilize
maximum delegates for participation in the 15th General Council
Meeting.
Thanking you,
Sincerely yours,
N. Gajapathi Rao
vinay mohanty
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