Guaranteed Retairment Income

Bima Sree

Why life insurance is necessary?

LIC Agents Club.... Lapsation more than15 % for any F Y

Lapsation more than15 %
for any F Y💐💐💐💐

   *Agents who are Aspiring for
Club Membership
The year will not be
considered for reckoning the
eligibility even if the agent
has fulfilled other conditions
There will be no disincentive.
However the Agent will be kept
under watch & no fresh
advance for Fast conveyance
or Housing loan shall be
granted to Agent till such time
the Lapse ratio remains more than 15%

    Lapsation More than15 % for two consecutive years
  *Agents who are Aspiring for
Club Membership
The agent shall have to start
afresh. No credit will be given
for the years during which
he/she would have already
qualified.
  Existing Club Member Agents
Neither be eligible for attending
convention nor the office
allowance (Stationery
Allowance in case of BM’s
Club Member Agent) for that
particular M.Y.

More than 15% for Three
consecutive years
   
Agents who are Aspiring for
Club Membership
   No Club given

Existing Club Member Agents
The Agent will lose the
membership of the club

LIC AGENTS Club Membership and Credit for Business under different plans of assuranc

Club Membership and Credit for Business under different plans of assurance
Ref  Club Membership
Rules and Benefits
(updated upto 28.02.2017) �

Unless other specified under any plan of assurance, the credit for the business
done by any agent should be allowed in full in respect of the number of lives,
premium income, commission etc for club membership purpose.
Some of the
plans of assurance which are to be dealt with in following manner in the matter
of credit for club membership purpose.

1. Group Insurance Business will not be taken into account for the purpose of
Club Membership.

2. Credit for Plan Jeevan Sathi (T- 89)
If an agent secures a policy under Jeevan Sathi Plan (T-89) two lives will be
counted for consideration of Club membership

If an agent secures two policies one under Jeevan Sathi Plan on the lives
of wife and husband jointly and the other policy under an individual plan
on the life of either husband/wife, the credit will be limited to two lives only
for Club Membership

3. Credit for Health Insurance Plans: Health Protection Plus (T-902) and
Jeevan Arogya (T-903)
Credit of one separate life will be given on each life covered under a single
Health insurance policy for consideration of Club Membership .

4. The credit for business under individual pension plans to the agent for the
purpose to qualify or to continue for club membership from the year 200001
has been withdrawn. However, the same has been restored again with effect
from the Membership year 2002-03 on the same lines as was given earlier prior
to the withdrawal the credit.

5. The credit for business under Varishtha Pension Bima Yojana (Plan 828) to
the agent for consideration of Club Membership : Full credit will be given for
the number of lives and Commission received under the plan.

The credit for total no.of Lives will be allowed as long as the annuity under the
plans is payable to the annuitant i.e. till the exit of the policy .

*For giving any credit the top-up (additional premium) and commission on such
top-up premiums are to be excluded. �