LIC assures LIAFI to consider their various demands

The management of Life Insurance Corporation (LIC), a major public insurance company, is considering a few proposals of the Life Insurance Agents Federation of India (LIAFI), including to hike the current bonus rate shortly for the benefit of crores of policyholders in the country.

The LIC management has agreed in principle to several demands of LIAFI in a meeting held in Mumbai on June 17, said Devi Shankar Shukla, president of LIAF, here today.

Mr Shukla told UNI that, ''We had been demanding for a number of issues for the welfare of LIC policyholders which include the hike in existing bonus rate as well as reduction in interest rate onloan against LIC policy.''

He further said that the LIAFI has also demanded to increase the commission of LIC agents as recommended by the regulator Insurance Regulation Development Authority (IRDA).

Mr Shukla said that LIC's executive director Vinay Shah has assured them to look into and implement these decisions soon.

A special meet was called by the Agents Federation at Ahmednagar yesterday to apprise the outcome of meeting with LIC management in Mumbai, in which around 1,000 agents participated, said Federation secretary Sudhir Padhye.

Chandrashekar Gandhi, secretary of Agents Credit Society, said, ''We had passed a number of resolutions in Ahmednagar meet which include education loan for agents' kids, hike in festival advance, computer advance to ZM and DM club members, increase the amount of housing loan, change in Agents Regulation Act and group insurance for Club members among others.''

Apart from Mr Shukla, the working president of LIAFI Avdesh Kumsar, western zone president M L Bafna, organisational secretary Suresh Shelke, Mahesh Gugade addressed the agents meet.UNI SP SS NP2006

-- (UNI) -- C-1-DL0171-795748.Xml