SECOND LETTER ADDRESSED TO FINANCE MINISTER FROM OUR LIAFI GENERAL SECRETARY

LIAFI-SG/GOI-062/14                                                                                                                23 July 2014

Shri. Arun Jaitely,Minister of Finance,

134, North Block,NEW DELHI-110 001

Respected Sir,

Sub:  Wasteful Expenditure in L.I.C of India.

We congratulate you for presenting the maiden budget of this Government, which is largely appreciated.  You are aware that L.I.C. is a gigantic financial organization supporting Central and State Governments, Municipal Corporations and Local Bodies.  All this is possible because of the faith reposed by the policyholders in LIC. This confidence is gradually eroding because of the meager returns they are receiving on their investment (policies) in buying the products. We feel that LIC should control and avoid wasteful expenditure there by regaining confidence of policyholders.  We would like to bring the following few areas to substantiate our claim.

1.       The GOI is trying to administrate with less Ministers and Officers. It is done in view of better administration with less expenditure. LIC is doing the other way.  LIC increased number of departments after the year 2006. There are Four Managing Directors’ posts and Twenty Five Executive Directors besides Chiefs for its subsidiary organization like LIC HFL, Mutual Funds, and Credit Cards etc. Though LIC is modernized, there is no pruning of personnel. We feel that there is excess work force.

2.       On the instructions of  Shri. P. Chidambaram, previous Minister of Finance a concept of “MINI OFFICES” introduced by spending Crores of rupees. This concept is nothing but to rehabilitate retired LIC personnel and deputing existing personnel.       

LIC also introduced a scheme of “EMPOWERED AGENTS” who can collect premia. We are requesting LIC to give more empowerment as is given to Mini Offices. This will not only reduce expenditure on LIC but also improve status of an Agent.

3.       LIC introduced a scheme of providing Meal Coupons to its Officers / Employees,  from 01-09-2010 onwards incurring  around Rs. 262 Crores annually that might have  gone up to Rs. 350 Cr.  The idea behind the scheme is that the personnel must attend and leave as per their Standing Orders. We feel it is nothing but bribing the personnel. Meal Coupons are misused by procuring Ration and other commodities. This is possible because of nexus between the LIC personnel and designated Malls  

We raised these issues several times with our Management without any results.  Nearly Rs. 1000/- Cr., can be saved if proper steps are taken, which in turn can be untilled for increasing the Bonus to policyholders. We request you to enquire in to the above points and help the policyholders.   

Thanking you,

Sincerely yours,

For Life Insurance Agents Federation of India

SD/-

Secretary General

Letter addressed to FINANCE MINISTER by our LIAFI GENERAL SECRETARY

LIAFI-SG/GOI-057/14                                                                                                  15 July 2014

Shri. Arun Jaitely,

Minister of Finance,

134, North Block,

NEW DELHI-110 001

 

Respected Sir,

Sub: Apprehension about Functioning of LIC of India.

  Our apprehension is that the Management of LIC is trying to dilute the strong faith of policyholders in the Corporation.  In order to introduce policyholder friendly, and for their financial benefits, IRDA directed the insurance companies to withdraw all the Plans by 30 September 2013. IRDA issued a notification to this effect on 16-02-2013 and directed that NEW PLANS are available from 01-10-2013.  

 

  LIC continued the old plans until 31-12-2013 instead of 30-09-2013. Forty-eight Individual Insurance Plans (Non-linked) were withdrawn by LIC.  Though LIC was aware that NEW Plans were to be made available from 01-10-2013, it submitted only one product for consideration of IRDA before 30-09-2013.   One more product was submitted before 31-12-2013. i.e., they have submitted two products only for consideration of IRDA. We are enclosing a copy of reply given by LIC under RTI.   

 

  The above negligence clearly indicates the uncaring attitude towards the policyholders. Any wise Management that has the knowledge of winding up of forty-eight products will be alert and plan for new products. The Management of LIC failed miserably to get the approval of new products well in advance. At present only nine products are available for marketing.

 

  We the LIC Agents are finding it difficult to market the products out of which only two or three products are popular. LIC may boast that they are retaining the market share. We the Agents for our survival are convincing the prospects and marketing. This in turn is keeping the LIC flag high.

 

  Sir, LIC is a golden goose. Let them not kill it. We hope you will take necessary steps to enquire why and how it happened.     

Thanking you,

Sincerely yours,

For Life Insurance Agents Federation of India

 

 

   Secretary General

 

சந்தோஷம்

சந்தோஷம்

 

ஒரு பிரமாண்டமான கண்ணாடி பங்களா. அந்த பங்களாவின் சாலை ஓரமாகத் துள்ளி விளையாடிக் கொண்டிருந்த நாய்க்குட்டி ஒன்று பங்களாவுக்குள் நுழைந்தது. உள்ளே திரும்பிய பக்கமெல்லாம் தெரிந்த கண்ணாடிகளில் அதன் பிம்பங்கள் தெரிய, அது தன்னைச் சுற்றிலும் நூற்றுக் கணக்கான நாய்கள் மகிழ்ச்சியாக இருப்பதைப் பார்த்து அந்த நாய்க்கும் முன்பை விட பலமடங்கு சந்தோஷம் பெருக்கெடுத்தது.

 

இந்த நாய்க்குட்டி வந்து போன சிறிது நேரம் கழித்து அந்தக் கண்ணாடி பங்களாவுக்குள் கோபமான உறுமலுடன் வேறு ஒரு தெரு நாய் நுழைந்தது. தன்னைச் சுற்றிலும் நூற்றுக் கணக்கான நாய்கள் கோபத்துடன் முறைப்பதைக் கண்டு எரிச்சலாகி அவற்றின் மீது ஆவேசத்துடன் பாய்ந்தது. கண்ணாடிகள் உடைந்து சிதறி, அந்த நாயின் உடம்பைக் கீறி புண்ணாக்கின.

 

பொருள்: நம்மைச் சுற்றியுள்ள மனிதர்களின் முகங்கள் அனைத்தும் கண்ணாடி மாதிரி தான். நாம் எந்த ஒருவரையும் சந்தோஷமாக பார்த்தால் நாம் பார்ப்பவரின் முகத்திலும் அதே சந்தோஷம் பிரதிபலிக்கும். அப்படியல்லாமல் ஒரு வேளை கோபமுடன் ஒருவரைப் பார்த்தால் நாம் பார்ப்பவரின் முகமும் நமக்கு கோபமாகவே காட்சியளிக்கிறது. இதனால் அநேக சமயங்களில் நமது கோபத்தின் காரணமாக நம்மையே நாம் அழித்துக் கொள்கிறோம்.

 

நமது சந்தோஷம், அது நமது மன அலைகளில் தான் உருவாகிறது. எனவே நம்மை நாமே எப்பொழுதும் சந்தோஷமாக வைத்துக்கொள்ள பழகுவோம்!

 

 

 

நன்றி   

(compiled by S. NATARAJAN,SECRETARY,LIAFI,COIMBATORE DIVISION)li               

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