Discussed points in ICC Meeting and its result

Dear Shuklaji,

                   I have attached the Agenda that had given to LIC Management. The meeting was attended by Shri V K Sharma MD, Shri S N Bhattacharya ED (Marketing) & other marketing,actuary dept officers. To our bad luck many of EDs and other officials could not attend because of various meetings at the management level.The following is the answer given by ED(Marketing).

New Plans:

a) Actuary secretary said a team was at IRDA on 22,23 at Hyderabad discussed for approval plans, D D Singh who is in charge of plans is objecting much for approval. About 11 plans are with IRDA, by August 1st fort night 2 or 3 plans may be launched.

b) No chance of reducing premiums further

c)A plan which allows age at entry upto 63 will be launched soon. Suggestions for various plans like whole life limited        endowment plan, new janaraksha etc suggested

d)A plan with lowest premium & lower S A will be introduced. Also children plans.

e)Revival will be considered from 2 to 5 years.

f)No change in commission structure

 

Club Membership related issues:

a)Serious about removing Escalation clause.

b)Not discussed.

c)Will be considered.

d)Instructions given to concerned.

e)Instructions given.

f)Instructions given.

g)Agreed.

h)No

Agent related Issues:

a)Objection from P&GS Dept, one more it will be discussed.

b)Instructions given.

c)Noted for reforming.

d)Decided to extend for 6 more months

e)Instructions given.

f)No response.

g)Instructions given to issue to CM & ZM Club members initially.

Revision in Scheme of Advances:

a) No

b)Will be considered

c)Will be considered

d)Instructions given

 

CLIA Related issues:

a) Will be discussed with CLIA head

b)Not discussed

Policyholders related Issues:

a)Noted for giving instruction

b)Heard  our view & assured to 

c)Instructions will be sent 

d)Not discussed

e)Not discussed

f)ED requested not to discuss as the management unable to face Unions.

5.Review of Agent regulation

  Discussed & suggestions given.

Letter dated 19th July 2014

Agents related issues:

1) Assured to enhance Transaction fee.

2) Assured to provide service like issue of loan,loan interest & loan closure quotation, Revival quotation, change of address,change of nomination & issue of premium paid certificate by empowered agents after discussing with ED CRM .

3) ED assured to give minutes of the meeting hence forth.

Further details will be informed latter. please inform to all agents

(Information received from Secretary General Mr. Gajapathi Rao Office, now, I am giving this information thro' our website for all agents.  by  S. NATARAJAN,SECRETARY,LIAFI, COIMBATORE DIVISION).

PLEASE INFORM TO ALL.