• At presentcredit for policies procured under Micro Bachat Plan
(Plan No-751) is allowed only for the purpose of arriving at
MAB of an Agent.
• It has now been decided to give full credit for those policies
which are procured under Micro Bachat Plan (Plan No-751)
during 01.12.2024 to 31.03.2024 for the following purposes:
• NB competitions floated by CO/ZO/DO
Credit of Policies Procured under Micro Bachat Plan (Plan No-751)
3.
• Club MembershipCriteria for new entry & continuation, with
regard to-
A) Number of lives in-force
B)Net Number of Lives
C)Commission earned
• Eligibility Criteria for stipend under RCA/MCA (Bima Sakhi).
Credit of Policies Procured under Micro Bachat Plan (Plan No-751)
4.
• Abhikarta BimaSuraksha Yojna scheme with 2 lacs free risk
cover (upto 69 years of Age) provided agent is active. This is
over and above the free 2 lacs accident benefit cover.
• Circular awaited.
Abhikarta Bima Suraksha Yojna (ABSY)
5.
• On paymentof six full year’s premiums under a policy, an
additional one time commission of amount equal to 2% of one
full year premium (net of taxes) shall also be payable, if the
Basic Sum Assured under the policy is Rs. 2 Lakhs and above.
• Earlier it was 5 lacs.
• Circular awaited.
Additional Commission on Persistent policies
6.
• Where E-NACHis validated one monthly premium is enough
regardless of instalment amount.
• Circular awaited.
E-NACH
7.
• A newtool to revolutionize Customer
Engagement.
• Features include:
Plan Presentation & Quote Generation
Marketing Creatives
Poster of the Day
Digital Visiting Card
LIC’s Sales Saathi
8.
• ANANDA (AtmaNirbhar Agents New Business Digital Application),
the Digital Paperless Solution for New Business Processes in LIC
which was launched on 24.08.2021 has now been enabled to
complete all cases including
• Minor Lives
• Female Cat-3 lives
• Minor Nominees & Multiple Nominees
• High Sum Assured cases
• ULIPs
ANANDA
9.
• Grievance RedressalMechanism to address Grievances/Complaints
of the Agents.
• Launched on 01.04.2024.
• Option provided in Agents Portal.
• Time bound resolution of Agents grievance/complaint in line with
the slogan “Agent First”.
e-Nivaran
10.
• Very attractiveCash Prize for Fast Track MDRT-2026.
Fast Track to MDRT-2026
11.
• This plancan now be purchased offline through Agents from
01.01.2025.
• Earlier the plan could be purchased only through Corporate
Agents, Insurance Marketing Firms (IMF), Brokers, CPSC-SPV and
POSP-LI engaged by these intermediaries viz. Corporate Agents,
Insurance Marketing Firms (IMF) and Brokers.
Bima Ratna (Plan No-764)
12.
• One timeincentive to any Agent entering into Corporate Club/Club
Galaxy from Membership Year 2024-25 onwards.
• On Entry/Elevation One time Incentive
Club Galaxy Rs. 25000
Corporate Club Rs. 40000
One time incentive on entry into
Corporate Club/Club Galaxy
13.
• The existingcoverage of Group Insurance Scheme to Tied Agents
w.e.f. 01.09.2024.
Group Insurance Scheme to Tied Agents
Category Duration of Agency Existing Cover (Rs.) Enhanced Cover(Rs.)
I Up to 3 years 3,00,000 5,00,000
II >3 years to 5 years 5,00,000 7,50,000
III >5 years to 10 years 7,00,000 10,00,000
IV >10 years 12,00,000 15,00,000
