LETTER TO PRIME MINISTER,FINANCE MINSTER AND CHAIRMAN, LIC OF INDIA.

                

LIFE INSURANCE AGENTS’ FEDERATION OF INDIA

(Regn No.2924 of 2000)

DEMANDS BY LIAFI TO  GOVT.

1. Restore – Section 44 of Insurance Act  1938  (HRC and ERC Commission).

2. Remove – Service Tax on Premium.

3. Remove –  TDS on LIC Policy maturity.

4. Bonus is grtually decreasing.Policyholders are suspecting foul play as per media reports. So we demand audit by CAG for investment made by LIC from the year 2008 onwards.

DEMANDS BY LIAFI TO  LIC

1. Increase Bonus to policy holder.

2. Increase  Gratuity  for agents to 10,00,000/-.

3. Increase   Group Insurance for Agents  between 500000/- to 2500000/-.

4. Business holiday for club member till wide range of new plan are introduced.

5. Implement the recommendation of IRDA (Gazette dated – 18.02.2013 for Commission).

6. Empower the empowered   agents to support the policy holder servicing.

7. Incentive to direct and Career agents.

8. Amend   Agent’s Regulation – 1972 in favor of agent and  do justice.

9. Introdue   conveyance allowance   to CLIA .Detachment of agent should be optional.

10. Increase mediclaim to club members and cover family members.

11. Restart dialoge with LIAFI at all levels in shape of ICC meeting.

12. Improve in quality of services to policyholders.

13. Remove esclalation clause on club membership.

14. Stop  five  star  culture and stop wasteful expenses.

15. Install   CC  camera  in all offices incldg. branches.

16. Honour democratic values and stop humilation to  agents at all levels.

17. Remove minimum net no. of lives condition from club rules.

18. Introduce various types of new plans in sufficient no.s.

19. Stop misuse of termination clause and take actions against those who are misusing.

Name of Agent                          Signature               Agency code          Branch                           Division                        

-------------------------------------------------------------------------------------------------------------Dear agents friends,

Kindly sent the above letter to the address given below:

Letter To,

1.   Prime Minister:   Hon’ble Narendra Modi Ji,South Block,Raisina Hills,New Delhi-110001.

2.   Finance Minister :  Hon’ble Arun Jaitely Ji, 134,North Bloack,New Delhi-110001

3.   Chairman,LICI :  Hon’ble Chairman,LIC of India,Yogakshema,JB Marg,Mumbai-400021.

All agents are requested to send it with out fail.

POSTED BY   SECRETARY,LIAFI,COIMBATORE DIVISION ON 29/01/2015 AT 8.50AM

IRDA CAUTIONS PUBLIC AGAINST SPURIOUS CALLS AND FICTITIOUS OFFERS

Agitation -GOBI BRANCH AND BHAVANI BRANCH -NEWS ON 22.01.2015

LIAFI-Secretary Generals letter

INSURANCE AGENTS COMMISSION NORMS TO BE REVISITED

Saturday, 17 January 2015

INSURANCE AGENTS COMMISSION NORMS TO BE REVISITED

Insurance Agent Commission Norms To Be Revisited

On January 14, 2015

The Insurance Laws (Amendment) ordinance has omitted section 40A of the erstwhile Act. This means, the Insurance Regulatory and Development Authority of India (IRDAI) has to work on a revised commission structure where the existing norms will be revisited.

Section 40A of the erstwhile Insurance Act pertained to limitation of expenditure on commission. According to erstwhile Insurance Act, no insurance agent would get a commission exceeding 7.5% of the first year’s premium and 2% of each renewal premium payable on the policy, where the policy grants a deferred annuity in consideration or more than one premium.

In cases, where the policy grants an immediate annuity or a deferred annuity in consideration of a single premium, or where only one premium is payable on the policy, it could not exceed 2% of that premium. In any other case, it could not exceed 35% of the first year’s premium, 7.5% of the second and third year’s of the renewal premium and thereafter 5% of each renewal premium payable on the policy.

Provided that in other case referred above, an insurer, during the first ten years of his business could pay to an insurance agent and an insurance agent may receive from such an insurer, 40% of the first year’s premium payable on the policy.

Insurers have proposed to IRDAI that there should be balance between the first year and second year commissions on savings policies. This will motivate the agent to persuade the customer to keep paying the premiums even in the second year, where the cases of lapsation are high.

The traditional product guidelines that were implemented from January 1, 2014, had linked commission to tenure of a policy. Higher the duration, higher is the commission.

In order to retain agents for longer duration, there have been talks about having a fixed salary structure for them. However, not everyone is in favour of such a structure.Insurers say that for large insurers having a large agency force, a fixed salary structure can set them back by a huge expense. They would then have to drastically reduce the number of agents, affecting overall business.

There are also proposals on having a commission expense cap, rather than a fixed percentage of commissions.

For a customer too, if the commission structure is revised, the premiums will also be revised. More balanced commission structure between the first and second year of the premium paying term would mean that the first year premiums would be slightly revised downwards.

posted by:SECRETARY,LIAFI,COIMBATORE DIVISION ON 23/01/2015 AT 6.45pm

LIC TO SOON INSURE THIRD OF THE COUNTRY, SAYS MR. ARUN JAITLEY,F.M.

LIC AGENTS AGITATION-COIMBATORE SINGANALLUR AGENTS =NEWS IN THINA MANI AND THINA MALAR ON 21/01/2015

LIC Agents Agitation -on 20th-in front of LIC COIMBATORE BY Singanllur Br.-TAMIL THE HINDU

AGITATION PROGRAMME - PAPER NEWS - THINA THANTHI AND DECCAN CHROMICLE ON 21/01/2015

AGITATION PROGRAMME-COIMBATORE SINGANALLUR BRANCH

SLOGANS FOR 20TH AND 21ST JANUARY,2015 DEMONSTRATION IN FRONT OF ALL BRANCHES.

   LIAFI    COIMBATORE  DIVISION

ஜிந்தாபாத் ஜிந்தாபாத்

லியாபி    ஜிந்தாபாத்!

முகவருக்காக போராடும்

லியாபி   ஜிந்தாபாத்!

மத்திய அரசே மத்திய அரசே

ரத்து செய் ரத்து செய்

பாலிசி மீதான  சேவை வரியை  ரத்து செய்!

மத்திய அரசே மத்திய அரசே

ரத்து செய் ரத்து செய்

முதிர்வு தொகைக்கான TDS யை ரத்து செய் !

மத்திய அரசே மத்திய அரசே

திருத்தாதே திருத்தாதே

ERC,HRC வழங்கும் செக்சன் 44 ஐ திருத்தாதே!

மத்திய அரசே மத்திய அரசே

கைவிடு கைவிடு

இன்சூரன்ஸ் சட்ட திருத்தங்களை கைவிடு !

மத்திய அரசே மத்திய அரசே

அடிக்காதே அடிக்காதே

முகவர் வயிற்றில் அடிக்காதே !

பறிக்காதே பறிக்காதே

முகவர்களின்

வாழ்வாதாரத்தை பறிக்காதே !

சீரழிக்காதே சீரழிக்காதே

இந்தியாவை கட்டிக் காக்கும்

LIC யை சீரழிக்காதே

வாழிய வாழிய வாழியவே

லியாபி  யூனியன்  வாழியவே!

காப்போம் காப்போம்

LICயை காப்போம்!

LIC யின் நிர்வாகமே

உயர்த்திக் கொடு உயர்த்திக் கொடு

பாலிசிக்கான போனஸ் தொகையை உயர்த்திக் கொடு !

உயர்த்திக் கொடு உயர்த்திக் கொடு

முகவர் கமிசனை உயர்த்திக் கொடு!

உயர்த்திக் கொடு உயர்த்திக் கொடு

குருப் இன்சுரன்சை 1௦ இலட்சமாக  உயர்த்திக் கொடு !

உயர்த்திக் கொடு உயர்த்திக் கொடு

பணிக்கொடையை 5 இலட்சமாக  உயர்த்திக் கொடு

தளர்த்திடு தளர்த்திடு

மன்ற விதிகளை தளர்த்திடு!

வழங்கிடு வழங்கிடு

எம்பவர்மென்ட் முகவர்களுக்கு அதிக வசதி வழங்கிடு

வழங்கிடு வழங்கிடு

தொழில் முறை முகவர்களுக்கு ஊக்கத்தொகை வழங்கிடு!

வழங்கிடு வழங்கிடு

நேரடி முகவர்களுக்கு ஊக்கத்தொகை வழங்கிடு!

வழங்கிடு வழங்கிடு

CLIA முகவர்களுக்கு

 மாத ஊதியம்,போக்குவரத்து படிகளை வழங்கிடு!

அமுல்படுத்து அமுல்படுத்து

முகவர் சட்டம் ‘72ன் படி

நன்மை பயக்கும் திருத்தங்களை

உடனடியாக அமுல்படுத்து!

மத்திய அரசே மத்திய அரசே

நிறைவேற்று நிறைவேற்று

முகவர் கோரிக்கைகளை நிறைவேற்று

மத்திய அரசே மத்திய அரசே

எச்சரிக்கை செய்கின்றோம்

இன்று நடப்பது ஆர்ப்பாட்டம்

நாளை வெடிக்கும் போராட்டம்!

ஜிந்தாபாத் ஜிந்தாபாத்

லியாபி   ஜிந்தாபாத்

ஓங்கட்டும் ஓங்கட்டும்

முகவர் ஒற்றுமை ஓங்கட்டும்

வெல்லட்டும் வெல்லட்டும்

முகவர் போராட்டம் வெல்லட்டும் !

தன்னலமற்ற லியாபியின்

தனிநிகரற்ற போராட்டம்

வெல்லட்டும் வெல்லட்டும்

காப்போம் காப்போம்

LICயை காப்போம் !

முகவருக்காக போராடும்

லியாபி   ஜிந்தாபாத்

ஜிந்தாபாத் ஜிந்தாபாத்

லியாபி   ஜிந்தாபாத்                   

( Posted by Secretary,LIAFI.,Coimbatore Division, southern Zone on 18/01/2015 at 11.10PM)

Questionnaire to be submitted with surrender application/Discharge form.

posted by SECRETARY,LIAFI.,COIMBATORE DIVISION ON 18/01/2015 AT 11,00PM.

IRDAI TO REVISE AGENTS' COMMISSION NORMS

E-mail to Chairman,LIC of India and Finance Minister also

Mail id-Chairman –                               chairman@licindia.com

Hon’ble Finance Minister-                   ajaitley@sansad.nic.in

By E-Mail                                                                                                               16^th January 2015

To,

Chairman, LIC of India,Mumbai

Cc to : Hon’ble Finance Minister,Govt. of India,New Delhi

Please fullfil our long pending demands at the earliest  so we can withdraw  our agitation   and  be free  to  procure new business and  collect more and more fund by way of new premium to build the nation (super power) as per Prime Ministers ambition.

Name-­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­                                                   Agency code-                         Br.-                       Division-

LIFE INSURANCE AGENTS’ FEDERATION OF INDIA

(Regn No.2924 of 2000)

DEMANDS BY LIAFI

1. Restore – Section 44 of Insurance Act  1938  (HRC and RC Commission).

2. Remove – The Service Tax on Premium.

3. Remove – The TDS on LIC Policy maturity/claims.

4. Increase the bonus to policy holder.

5. Increase the Gratuity for agents to 10,00,000/-

6. Increase the Group Insurance for agents  between 500000/- to 2500000/-.

7. Relaxation the Club Rules until new plans introduce.

8. Implement the recommendation of IRDA (Gazette dated – 18.02.2013 for Commission).

9. Empower the empowered   agents to support the policy holder servicing.

10. Incentive to direct and Career agents.

11. Implement the Amendment of agent’s regulation – 1972.

12. Implement the salary and conveyance to CLIA.

13. Increase mediclaim to club members and cover family members.

14. Restart dialoge with LIAFI at all levels in shape of ICC meeting.

15. Improve in quality of services to policyholders.

16. Remove esclalation clause on club membership.

17. Stop  five  star  culture and stop wasteful expenses.

18. Install   CC  camera  in all offices incldg. branches.

19. Honour democratic values and stop humilation to  agents at all levels.

20. Remove minimum net no. of lives condition from club rules.

--------------------------------------------------------------------------------------------------------------------------

Note:

All Branch President,Secretary,Treasures to inform all agents and arrange to sent the mail to

Chairman,LIC of India,Mumbai and copy to Finance Minister(e mail ID given above) and also sent copy to www.liafikovai@gmail.com )

URGENT     URGENT     URGENT     URGENT       URGENT      URGENT      URGENT

POST BY Dvn. Secretary,LIAFI.,Coimbatore Division at 8.00PM on 15/01/2015.

2nd time Campaign for Revival of lapsed policies from 15/01/2015 to 28/02/2015

POST CARD TO FINANCE MINISTER AND MAIL TO CHAIRMAN,LIC

Dear OB's and PST's of Coimbatore Division

Kindly arrange to  sent the POST CARDS to Our Finance Minister, minimum 500 cards from all agents of your Branch as detailed below:

TO

SHRI ARUN JAITELY,

MINISTER OF FINANCE,

134, NORTH BLOCK,

NEW DELHI-110001

RESPECTED SIR,

KINDLY ARRANGE TO SETTLE OUR MAIN DEMANDS:

1 RESTORE SECTION 44 OF THE INSURANCE ACT 1938(HRC & ERC)

2 REMOVE SERVICE TAX ON INSURANCE PREMIUM

3 REMOVE 2% TDS ON MATURITY PROCEEDS OF INSURANCE POLICY

KINDLY DO THE NEEDFUL IN THIS REGARDS.

Yours faithfully,

(NAME AND SIGN)

2)

Dear OB’s and PST’s of LIAFI Coimbatore Division

Please arrange to sent the following lines to the Chairman of LIC  by your branch agents on 16/01/2015 by mail.

E-mail ID:

chairman@licindia.com

To 

The Chairman,

LIC of iNDIA,

CENTRAL  OFFICE,

MUMBAI.

Dear Sir,

Kindly arrange to settle our following Demands at an earliest.

Our Main Demands:

1 IMPLEMENT THE RECOMMANDATION OF IRDA (GAZETTE NOTIFICATION DATED 18.02.2013 REG COMMISSION)

2 INCREASE BONUS TO POLICYHOLDERS

3 INCREASE AGENT'S GRATUITY LIMIT TO 5 LAKHS

4 ENHANCE AGENT'S GROUP INSURANCE COVER TO 10 LAKHS

5 RELAX CLUB RULES UNTIL THE INTRODUCTION of  MORE PLANS 

6 IMPLEMENT THE AMENDMENTS OF AGENTS REGULATION ACT 1972

7 GIVE INCENTIVE TO DIRECT & CAREER AGENTS

8 GIVE MORE POWER TO EMPOWERED AGENTS FOR BETTER SERVICE TO POLICYHOLDERS

9 GIVE SALARY & INCENTIVE TO CLIAs

Kindly do the needful.

by

Name:

Code No.

cc.

The LIAFI,Coimbatore division by mail(  liafikovai@gmail.)

  

posted on 13/01/2015 at 11.00AM by SECRETARY,LIAFI,COIMBATORE DIVISION.

DEMANDS BY LIAFI

DEMANDS BY LIAFI

1. Restore – Section 44 of 1936 Act. (HRC and ERC Commission). 
2. Remove – The Service Tax on Premium.
3. Remove – The TDS on LIC Policy maturity.
4. Increase the bonus to policy holder.
5. Increase the Gratuity to 5,00,000/-
6. Increase the Group Insurance to 10,00,000/-
7. Relaxation the Club Rules until new plans introduce.
8. Implement the recommendation of IRDA (Gazette dated – 18.02.2013 for Commission).
9. Empowering the empower agents to support the policy holder.
10. incentive to direct and Career agents.
11. Implement the Amendment of agents regulation – 1972.
12. implement the salary and conveyance to CLIA.