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has been withdrawn.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