JEEVAN AKSHAY-VI

Online channel will not undermine the importance of agents’

Online channel will not undermine the importance of agents’

Nilesh Sathe, Member - Life, IRDAI said that while online distribution channel may grow in the days to come, traditional agency channel will not be affected as people need handholding to buy insurance policies.
Team Cafemutual Sep 9, 2016
   
Nilesh Sathe, Member – Life, IRDAI has said that online distribution channels like web aggregators and insurance self-network platforms will not be a threat for the brick and mortar agents. He was speaking at a recent event held in Mumbai.

Sathe said that while online distribution channel may grow in future, it will not undermine the importance of individual agents. He said that policyholders need handholding to buy insurance policies. Individual agents are the touch points for policyholders, he said.

Sathe further said that many life insurers are concerned about the cost of acquisition of a policyholder through an individual agent. However, only individual agents can bring in persistency and sustainable profitability for the industry, he added.

“Going forward, the growth in the insurance sector will come from tier II and tier III cities considering the huge untapped market1. Life insurers should rethink their distribution strategy and focus on strengthening their agency channel through individual agents. These agents can help tap this opportunity because of their strong relationship with policyholders,” he said.

Last month, IRDAI chairman T S Vijayan said that distributors should be adequately compensated in order to increase insurance penetration. He said that insurance is not something which could be sold online like clothes and mobile phones. He said, “A policyholder needs proper handholding and advice to buy an insurance policy. And who is better than agents. Hence, insurance companies should motivate agents to take insurance distribution as a full-time career.”

MDRT MADE EASY WITH JEEVAN ANAND

Renewal of Group Medi claim Policy for Club Member Agents

 

MR. H.M.JAIN'S REPLY FOR MR. SHUKLA'S ALLEGATION.

MR. H.M.JAIN'S REPLY FOR MR. SHUKLA'S ALLEGATION.

Dear Shri. Shuklaji

            Your message on what’s app on 4^th Aug. 2016 at about 8.17 am as under

            “Mitro punah Fed. ko vibhajit karne ki sajish ho rahi hai iske peeche Mr. H. M. Jain aur N. Gajapathi Rao dwara Rs. 70 lakh  ka gaban mukhya karan hai. Life fund Mr. Jain Federation ko dena nahi chahte, hum peeche pade the ki EC me baat kar ke agenda me iss vishay ko le taaki EC me rule banaye. Aaj Fed. ke pass 1450 LPM hai iss hisaab se lagbhag 75 lakh Fedration ke life fund me hone chahiye par total life fund me 40 lakh hai. Baaki yeh log nikal chuke hai.”

            Which has indeed shocked me because an absolutely false allegation of embezzlement of Rs. 70 Lakh pertaining to Life Patron Membership along with                     Shri. N. Gajapathi Rao.

            You have further stated that the number of Life members is 1450 and estimated collection of Rs. 70 lakh. It is simply ludicrous because number of members and amount do not tally at all. I am not aware that how many new members have been enrolled after 15^th GC at Silligudi. There is no deposits in the Life Fund and you should know better that where you kept the money on this count and in what manner. Your statement is not only misleading but unwarranted.

            As per Life Fund account in the name of LIAFI where signatories are                          Mr. Gajapathi Rao, Mr. Bapna & Myself the balance at the time of 15^th GC was 37.25 lakhs in form of FD’s are still remaining the same. Out of interest portion sum of Rs. 4 lacs has been paid to you and LIAFI Vishakhapatnam. Besides this there is no withdrawal whatsoever, I therefore deny your untrue allegation leveled against me. I call upon you to desist from doing such thing which try to damage my image by false propaganda. I further call upon you to give me the source of false information obtained by you and authenticity of your information. In case you fail to reply in a clear cut manner, I reserve the right to file a deformation case against you.  

H. M. JAIN

Important Circulars for your references

Youngest couple to lead TOT and COT in LIC

Letter addressed to LIC -ED Marketing from our Secretary General

LIAFI-SG/CO-076/16                                                                                                 28 July 2016

Shri. Vinay Sah, E.D. (Mktg)

 III RD Floor, Marketing Dept.

Central Office, Yogakshema

L.I. C. of India, Jeevan Beema Marg,

MUMBAI-400 021

Dear Sir,

Sub: Issues relating to Agents-Reg

We thank you for honouring your commitment regarding 1) Enhancement of loan quantum and introducing 2^nd housing loan. 2) Introducing additional office allowance for ZM and DM Club Members and 3) Enhancement of Festival Advance. We are happy that you have found solutions to our long pending demand.

We draw your kind attention to the following issues for which you reacted positively.

1.      Enhancement of Gratuity.

2.      Introduction of Children Education Loan.

3.       Introduction of Family Floater Mediclaim.

4.      Enhancement of Group Insurance Coverage for Club Members up to Rs. 10 lakhs.

5.      Awaiting instruction for payment of office Allowance for Husband and Wife club members

6.      Reverting back to the old procedure of printing stationary items to the club members.

We hope you will make this Diamond Jubilee Year a memorable year for our Agents. You have to wipe out the bad and sad memories of Golden Jubilee Year. 

Thanking you,

Sincerely yours,

For Life Insurance Agents’ Federation of India

Secretary General

REVISION IN THE QUANTUM OF THE FESTIVAL ADVANCE TO AGENTS.

MODE OF TRAVEL BY CLASS - FOR INFORMATION

LETTER FROM SECRETARY GENERAL MR. N. GAJAPATHI RAO.

All India Office Members,

All Central Secretariat Members, 
All Zonal Presidents/Secretaries,
All EC Members of LIAFI, 
Divisional Presidents & Secretaries, 
Honorary Members & Special Invitees,

Dear Sirs, 

Our President Shri. D. S. Shukla, arranged an unauthorised and illegal group meeting at Delhi on 13-07-2016 terming this as Office Bearers Meeting. This meeting do not have the approval of Central Secretariat. I requested him not to conduct this meeting which may develop groupism. I also appealed to all Office Bearers to avoid this meeting. But President conducted this meeting. Only Sarvasri D. S. Shukla, Pratipal Singh Valecha (ZP NZC), M. L. Bapna (ZP WZC), R. N. Deo (ZS ECZC), Awadhesh Kumar Singh (Exe. Vice President), and B. L. Mundra (Ex. ZP CZC) were present. Only 5 Office Bearers out of 24 were present. This act of President and other 4 leaders is nothing but anti-federation activity. This will be viewed seriously and placed before Central Secretariat for discussion. I thank all other Office Bearers who stood by the federation. A Central Secretariat meeting along with all Office Bearers (barring the above 5) and a few Honorary members will be held to discuss this issue. All the unilateral decisions taken by the President by ignoring Central Secretariat will be placed before this meeting. 

The 72nd EC Meeting to be held at Varanasi has been deferred by an unanimous resolution of Central Secretariat on 02-07-2016, which was communicated to all of you already. Yesterday President sent a message that due to non-cooperation and non-submission of accounts of HQ, the EC Meeting is postponed. It is absolutely false and misleading. It is the President who did not answer our queries till today on accounts. Until he submits proper accounts and clarify all our doubts, we will not be in a position to give our accounts. I request all of you to support LIAFI. The date and venue of the deferred meeting will be decided in next Central Secretariat Meeting. 

Thanking you, 
Yours sincerely, 

N. Gajapathi Rao, 
Secretary General. 

LETTER FROM LIAFI TREASURER MR. MURTHY

 

All India Office Members, 

All Central Secretariat Members, 
All Zonal Presidents/Secretaries,
All EC Members of LIAFI, 
Divisional Presidents & Secretaries, 
Honorary Members & Special Invitees,

Dear Sirs, 

I am given to understand that our President Shri. D. S. Shukla informed all of you that non-cooperation and non-submission of accounts of HQ to him was the reason for the postponing of 72nd ECM. It is unfortunate that he neither know the rules nor understand. The EC Meeting was deferred on 02nd July, 2016 by the Central Secretariat with an unanimous resolution. This decision has been taken because our President did not answer the queries raised by the accountant on June 23rd, 2016. Vague replies were given for some of our queries on 02nd July, 2016 and some were answered on 04th July, 2016 at 6 PM. Again another Email was sent to our President for further clarifications on 05th July, 2016. So far nothing is replied by him. 

He has deposited Rs.4,51,000 in Corporation Bank without a resolution of Central Secretariat. We wanted to know on whose name it was deposited and who were the signatories and the resolution. If this type of activity is allowed everybody will do the same thing. He did not show Rs.25,000 collected as Advertisement from LIC of India. The Special Fund transferred to Bhopal by Shri. R. N. Deo is not deposited in Special Fund account. We did not get the classification of collections. 

As per the Bye-laws of LIAFI, it is the responsibility of Central Secretariat to maintain, audit, and present the Accounts before EC Meeting. Last year we failed because of non-submission of Accounts in time by Shri. D. S. Shukla. We don`t want to repeat the same this year also. I regret to inform that the Auditor recorded improper maintenance of accounts at Bhopal and we were also blamed. It is unfortunate that Shri. Shukla is not realising his mistakes and trying to blame others with misleading reports. We are ready and prepared for showing HQ accounts, but not to the persons who do not submit proper accounts. 

I request all of you to remit the collections to the HQ only, otherwise this type of indifferences will arise and ultimately the federation will be put to loss. As a treasurer of LIAFI, I can question anybody regarding accounts. Everybody should realise this fact. 


Thanking you, 
Yours sincerely, 

P. S. N. Murthy, 
Treasurer, LIAFI.

Revision in Age Proof Guidelines-

Letters addressed to LIC E.D. MARKETING BY OUR SECRETARY GENERA;L

Add caption

sorry for the long silance

ICC MEETING - AGENDA-HELD ON 25/02/2016 WITH LIC MANAGEMENT @CENTRAL OFFICE MUMBAI.

VERY IMPORTANT AND URGENT MESSAGE

RECEIVED FROM TOP LEVEL LEADERS MESSAGE. 

I AM FORWARDING FOR YOUR INFORMATION:

Good morning to all LIAFIANS. 

🙏🙏🙏🙏🙏🙏🙏

Agenda discussed in ICC meeting at Central Office and agreed by Central Office.

1. On line product will not come without taking LIAFI into confidence and discussion.

2. LIC view on draft of irda of India agreed up to 40%.

3. Escalation clause discussion positive. 

4 Reduction in minimum net no of life considered

5 .payment of computer allowance for zm dm and bm clubs considered.

6 Club members group insurance may be increased . 

7. Printing of stationary earlier practice may be continued.

8. Enhancement of gratuity discussion is in progress with Government of India results expected in next fin.year.

9. Introduction of 2nd housing loan agreed circulation will come very soon.

10. Strengthening of direct and career agents draft submitted by LIAFI may be considered soon.

11. Empowering empowered agents annex-1 submitted to ed clia process going on .

 12. Amendments to1972 agent regulation  work in progress.

 13. Child education loan for agents considered. 

14.  CC camera 📷 in all office started .

15.  Mid day meal coupons for agents not considered but Federation demands are still stand. 

16.  Interest on sambhardhan scheme from the date of deduction will be considered.

By  D S Shukla and N Gajapati Rao.

Kindly inform to all agents in your branches.

Thank you  LIAFI.

LIAFI ZINDABAD 

LIAFI ZINDABAD 

LIAFI ZINDABAD.

by

S. NATARAJAN,

DIVISIONAL SECRETARY,

LIAFI,COIMBATORE DIVISION.

LIC CLUB MEMBER

Terminology That Every LIC Club Member Agent Must Know

LIC of India has more than 12 lac agent, and according to their performance LIC rewards them in the different form. One is Club membership. According to the business procured by agents in last 4 year LIC awards club membership to agents. These Clubs are Corporate Club, Galaxy Club, Chairman Club, Zonal Manager Club, Divisional Manager Club, Branch Manager Club and Distinguish Club. LIC has made the criteria for the entry to new club or continuation in a new club. These criteria mainly depend upon a number of lives procured by an agent in the financial year, total in force lives, renewal commission, and first-year commission. But other than this, there are many other factors which an LIC club member agent should know to continue or enter in a new club, which we are going to discuss here one by one, all the points covered here to be done in a financial year.

“Number of Policies” in a financial year:

This is, all the policies procured by an agent in a financial year (1st April to 31 March). This will also include policies done on the same life by the agent in the same financial year.

“Number of lives” by LIC club member agent in a financial year:

The number of lives is a very crucial factor for getting a club membership. The number of lives means, the number of the different people insured by an agent in a financial year. An agent may do 2 or more policies of a single person. When an agent does 100 policies it does not mean he has done insurance of 100 different people. There is no exact correlation between Number of Policiesand Number of Lives, an agent can do insurance of 2 or more individuals in 1 policies also. But, more the number of lives, more the policies.

“Total Inforce Lives” by LIC club member agent

This is nothing but all the policies procured by an agent from the first day of his agency, which is still running (in force condition as on 31 March of the current financial year). Only those policies will be considered as in force where FUP is less than 6 months. Policies under auto cover are not included in “total in force lives” where FUP is >6 Month.

Policies which are in auto cover (like New Bima Gold, New Janraksha, and Jeevan Saral) but FUP >6 months are considered as lapse and not included in“Total in force lives” of the agent. In differed annuity policies where policy is vested and premium payment, the term is over are also excluded from “Total in force lives”.

“Net Number of Lives” by LIC club member agent in a financial year

This is the first condition for LIC club member agent, which he has to complete to continue or enter a new club. for CM club, it is 40 Net lives and 30, 20 and 15 for ZM, DM, and BM club respectively. The net number of lives arrives after reducing duplicate lives, first-year lapse policy from the total number of lives introduced by an agent in a financial year.

Here yearly policy complete in last financial year having FUP >6 months will also be taken as first-year lapse policy. I am quoting the lines of LIC circular Mktg./A/ZD/29/2009 Date: 22nd October 2009 for club member conditions here for reference.

Net Number of Lives” are distinct lives insured ( not number of policies) during the qualifying financial year reduced by the number of lives who had been insured in the financial year preceding the qualifying financial year whose policies are lapsed as on 31st March of the said qualifying financial year.

“First year Commission” by LIC club member agent in a financial year

This is the commission paid to an agent for the first year of the policy. The first-year commission includes first commission paid on yearly policy, commission paid on first two installments of half-yearly policy and commission paid on first 4 and 12 premiums in quarterly and monthly mode policy respectively. Bonus commission paid to an agent on the first-year commission is also included here for club membership purpose.

“Renewal Commission” by LIC club member agent in a financial year

Renewal commission earned by an agent in a financial year.
It is the commission paid to an agent on second and subsequent year premium deposited by the policyholder.

“First-year lapsation” for LIC club member agent in a financial year

Lapsation is a very important factor for an LIC club member agent. If in a particular year, if lapse ratio is more than 15%, then that particular year will not be considered for club membership purpose for aspiring club member. For existing club member agent, lapse ratio >15% will lead to nonpayment of allowances, and exit from the club after lapse ratio >15% for 3 consecutive years.

The first-year lapsation arrives after reducing the number of policy procured in current and last financial year but in lapse condition as on 31 March of current financial year from the total number of policies procured by an agent in the current financial year.

Example: Let us assume that in the year 2014-15 an agent procured 52 policies, and in the current year 2015-16 agent procured 63 policies. Out of these 115 (63+52) policies, 12 policies have FUP >6 month on 31/03/2016. Then the lapse ratio will be (12/63)X100=19.04%. These 12 policies will also reduce the net number of lives for an agent in the current financial year. If all the 63 policies are on different lives and 12 policies are also on different lives then net lives will be 51 only.

“Pucca Lapse” Policies

The policies under which overdue premiums remain unpaid for more than 6 months from the date of the first unpaid premium (FUP) are deemed to be pucca lapsed for the purpose of arriving at the net number of lives in determining agents eligibility for membership of any club. Policies issued in current and previous financial year which are “pucca lapse” as on 31st March of the current financial year will be reduced from the lives procured by an agent in the current financial year to arrive at “Net number of Lives”. Same will be reduced from the total lives introduced by an agent to arrive at “total in force lives by an agent”.

“Qualifying year” for club membership

The financial year immediately preceding the membership year is known as the “Qualifying year”. In other words, the financial year in which an agent qualify all the condition to become the club member of any club.

“Escalation Clause” for LIC club member agent

Escalation clause means that an agent has to earn 5% extra renewal and first-year commission in next financial year after the qualifying year. This will apply to both existing club member agents as well as aspiring club member agents.

“Membership year” for LIC club member agent

Membership year for an LIC club member agent is the period for which club membership is award to the agent. Membership year for club member agent starts from 1st September to 31st August after the qualifying financial year.

LIAFI COIMBATORE DIVISION- SLOGANS IN TAMIL

                    LIAFI    COIMBATORE  DIVISION

ஜிந்தாபாத் ஜிந்தாபாத்

லியாபி  யூனியன் ஜிந்தாபாத்!

முகவருக்காக போராடும்

லியாபி  யூனியன் ஜிந்தாபாத்!

வாழிய வாழிய வாழியவே

லியாபி  யூனியன்  வாழியவே!

LIC ன் நிர்வாகமே!

கைவிடு கைவிடு

ஆன்லைன் வர்த்தகத்தை கைவிடு!

அடிக்காதே அடிக்காதே

முகவர் வயிற்றில் அடிக்காதே !

                                                                               

காப்போம் காப்போம்

LICயை காப்போம்!

காப்போம் காப்போம்

முகவர்களைக் காப்போம்!

LIC யின் நிர்வாகமே

கைவிடு கைவிடு

ஆன்லைன் வர்த்தகத்தை கைவிடு!

உயர்த்திக் கொடு உயர்த்திக் கொடு

பாலிசிக்கான போனஸ் தொகையை உயர்த்திக் கொடு !

அமுல்படுத்து அமுல்படுத்து

IRDA வின் கமிசன் முறையை அமுல்படுத்து

உயர்த்திக் கொடு உயர்த்திக் கொடு

பணிக்கொடையை  உயர்த்திக் கொடு

தளர்த்திடு தளர்த்திடு

மன்ற விதிகளை தளர்த்திடு!

கைவிடு கைவிடு

ஆன்லைன் வர்த்தகத்தை கைவிடு!

வழங்கிடு வழங்கிடு

2 வது வீட்டுக் கடனை வழங்கிடு!

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!

கைவிடு          கைவிடு

ஆன்லைன் வர்த்தகத்தை கைவிடு

மத்திய அரசே மத்திய அரசே

நீக்கிடு நீக்கிடு

சேவை வரியை நீக்கிடு!

அமுல்படுத்து அமுல்படுத்து

முகவர் சட்டம் ‘72ன் படி

நன்மை பயக்கும் திருத்தங்களை

உடனடியாக அமுல்படுத்து!

நியாயம் வழங்கு நியாயம் வழங்கு

முகவர்களுக்கு நியாயம் வழங்கு!

Lic ன் நிர்வாகமே

இன்று நடப்பது ஆர்ப்பாட்டம்

நாளை வெடிக்கும் போராட்டம்!

ஜிந்தாபாத் ஜிந்தாபாத்

லியாபி  யூனியன் ஜிந்தாபாத்

                                                                                 

ஓங்கட்டும் ஓங்கட்டும்

முகவர் ஒற்றுமை ஓங்கட்டும்

வெல்லட்டும் வெல்லட்டும்

முகவர் போராட்டம் வெல்லட்டும் !

தன்னலமற்ற லியாபியின்

தனிநிகரற்ற போராட்டம்

வெல்லட்டும் வெல்லட்டும்

காப்போம் காப்போம்

LICயை காப்போம் !

காப்போம் காப்போம்

முகவர்களைக் காப்போம்!

வாழிய வாழிய வாழியவே

லியாபி  யூனியன்  வாழியவே!

முகவருக்காக போராடும்

லியாபி  யூனியன் ஜிந்தாபாத்!


POSTED BY S. NATARAJAN,DVN. SECRETARY,COIMBATORE.
COMPILED BY: MR. RAGHURAMAN,R.S.PURAM BR.

VOTING FOR liafi agitation.

Sunday, 21 February 2016

LINK of LIAFI agitation on 25-3-2016

https://docs.google.com/forms/d/1_qrzj17upTRiTzAsEj6H5A5tcdFdmDds0PPpr6Y9RQA/viewform?c=0&w=1

forwarded message by S. NATARAJAN,

DVN. SECRETARY,

LIAFI,COIMBATORE DIVISION.

LIC OUTSCORES PRIVATE INSURERS IN CLAIMS SETTLEMENT

RAILWAYS NETWORK WORKS STARTS FROM LIC LOAN AMOUNT

IRDAI RECOMMENDS WAIVER OF SERVICE TAX ON INSURANCE PREMIUM

LETTER ADDRESSED TO LIC CHAIRMAN-INSURANCE REPOSITORY LIC-E SERVICES-REG.

NEW PLAN - JEEVAN PRAGATI

ON LINE AND OFF LINE POLICY

LETTER ADDRESSED TO FINANCE MINISTERE BY OUR SECRETARY GENERAL