Handbook On Sales U8

1
AREAS OF CONCERN
AGENCY
 ERC Decision
o Check no. of Lives
o Check no. of Qualifying years
o Decision by Divisional Office
 Bonus Commission
o Check eligibility 6 lives & 50000 FYPI
o Check eligibility status
 RCA / CCA
o Stipend eligibility
o Lives & commission to be c/f only when excess
 Advances
o Eligibility for ERC
o Permanent Driving Licence
o Difference between Invoice and advance paid
o Insurance renewal during Hypothecation period.
 Festival advance
o Check for 12 Lives & 6 Lakh SA in previous Agency Year
 CLUB
o Eligibility
o Interest for advances on demotion of Club
o Fringe benefits for Club Members without benefit
o Check Payment for Lapse 2
o Respective account codes for various payments
CLIA
 Activation Allowance
o Check Supervised agents own life
 Other payments
o Check MBR completed except Activisation and Productivity allowance
feedback to [email protected] 31.08.2018 WhatsApp : 9698648499

2
DEVELOPMENT OFFICERS
 Conveyance
o Review after IB
o Insurance renewal – check break in renewal
o Leave more than 30 days in Financial Year
 Appraisal for Remuneration

o Equitable Relief
o Tour
o Reimbursement of Insurance & Road Tax
o Reimbursement for Mobile & Telephone call charges
o Enhanced Conveyance allowance any paid
o Arrears paid or any recoveries made to be reflected
 Appraisal Calculation
o CCA Credit %
o No. of Lives – Check CD & Cancellation
o Check Deemed Productive agents
o Check agents recruited and completed MBG in relevant appraisal
o Revival Credit given
 Laptop advance review every financial year

 Check Cost Ratio for Mobile call charges reimbursement
 Scheme II (R) 350000.00 review after IB
 TE Bill – Qly Conveyance certificate
 Disincentive effected and confirmation to Divisional Office
 Intimation to OS Dept for reimbursement of Road Tax & Insurance for perks.
SBA
 OMA
o Obtain the Transaction summary from SBA
o Check monthly transactions for eligibility
o Payment to be made only after ensuring the transaction eligibility
o Check cost ratio in previous appraisal for eligible amount of OMA
 Entertainment expense limit

o Based on No. of Transaction
o Not eligible for Non Regular SBAs
 Payments to be added in earnings.

3
AGENCY MATTERS
Appointment of Agents Training Minimum Business Guarantee
 Minimum age 18Yrs  25Hrs classroom training w.e.f. AY 07/2009
 Passed minimum class X  25 hrs practical training 12 different Lives and 1 Lac FYPI
(matriculation or equivalent  Respective development officer to
examination from recognised impart practical training
w.e.f. AY 08/2016
university)  Certificate of successful practical
training to be issued either by An agent has to procure –
Branch Manager to interview all applicants.
development officer or ABMs or BM EITHER 6 lives & 50,000/- FYPI
 25 hrs of classroom training on OR 12 lives
Confirmation of Agents renewal of agency. OR 1 Lac FYPI
 Renewal after every 3 years.
An Agent is confirmed on the date of
 Training will be valid for a period of Six
Appointment. months.
The concept of Probation and Confirmation
has become irrelevant. Re- Instatement of Agency
MBG Exemption
 Should be within 24month from Bonus Commission
An agent shall be exempted from MBG if Termination
he has continually worked for the  Only when letter of appointment is  Shall be entitled @ 40% of eligible FYC
valid.
corporation as an agent for a period of  Has secured not less than 6 different
 Only 4 times till eligible for ERC
 Not less than 21 years lives and
 3rd time on rare occasion competent
(or)  FYPI of at least 50000 in respective
authority MM
 At least 15 years & 55 Yrs of age agency year.
 During 12 to 24 months should be
(or)  When earned bonus commission for 5
treated as 2nd reinstatement.
successive years shall be entitled for
 15 Years and business in force with  Re-instatement within 12 months
Bonus commission for the agency year
renewal premium income not less same DO
following such 5 years even if he has
than 200000 per annum.  After 12 months can be attached to
not fulfilled the conditions for that
other DO.
year.
Re – Appointment of Agency
 Exempted agent shall be eligible for
Competent Authority when agent is NERC
bonus commission if he has at the
 After 24 months from date of Competent
No. of Occasion time of exemption 15 qualified years.
termination Authority
 Should be treated as New 1st Occasion within
Branch I/C
appointment 12 mths ERC Condition
 Competent authority SDM 1st Occasion
 Can be attached to other DO between 12 to 24 MM
Agent eligible for Renewal commission
 New agency code to be allotted Mths
after termination if.
2nd Occasion MM
No renewal commission for old agency 3rd and 4th
SDM/DM I/C He has fulfilled MBG for at least 5 years
Occasion
Any Occasion since appointment and 25 lives in force as
which makes SDM/DM I/C on date one year before termination (at
agent ERC the end of previous agency year)
Amendment in commutation of ( or )
commission Rule 19(4). 5th agency year or any other agency year
Has fulfilled MBG for at least 10 years since
which makes the agent eligible for RC
should be severely restricted. Competent his appointment.
If the renewal commission payable falls authority will be SDM I/C ( or )
below Rs.10000/- in any financial year the Who has been terminated under clause (m)
competent authority may compute all Competent Authority when agent is ERC of sub regulation (1) of regulation 16. (
commission payable in subsequent Competent Physically or mentally in capacitive for
No. of Occasion
financial years for a lump sum which shall Authority carrying function of agent) has fulfilled
be 3 times the amount of Renewal 1st Occasion Branch I/C MBG for at least 2 years since appointment
2nd and
commission paid in the said financial year. and 12 different lives in force on date
subsequent MM
And on the payment of such lump sum to immediate prior to termination.
Occasion
the agent or his nominees or heirs as the
case may be, and no further commission
payable in the subsequent financial years.

4
TE / DA to Agents
24Hrs and part thereof Full DA

Less than 8Hrs and more than 4Hrs 1/2 DA
8Hrs and more 1 full DA
Mode of Travel
For all Agents Travel by Train I class or III tier AC (where III tier
AC is not available II tier Ac in trains other than Rajdhani &
Shatabdhi Competent authority SDM)
If travel by higher mode III tier AC fare is applicable

Applicability of DA
If Free Lodging & Boarding is provided 1/4 of DA
If Free Boarding is provided 1/2 of DA
If Free Lodging is provided 3/4 of DA
DA to Agents
Class of City
Category
A B C
CM 800 700 600
ZM 700 600 500
DM 500 375 300
BM 375 275 225
Others 325 225 175
TE for Club Convention
Economy Air fare or II class 2 Tier a/c or
CM or 3 tier a/c and
Out of pocket expense 4500/-
w.e.f. M Y 2017 – 2018 Rs.8000/-
I class or II class 2 tier a/c or 3 tier a/c
ZM
and out of pocket expense 2500/-
I class train &
DM
out of pocket expense 400/-
I class train &
BM
out of pocket expense 200/-

5
Requirements for Hereditary Commission

W.e.f. 21.08.2012
Where there is no nomination

If Nomination subsists If Nomination subsists
and legal evidence of title is to
( Primary legal heir ) ( Not a primary legal heir )
be waived
 Death certificate
 Annexure H
Amount of Renewal
 Annexure J1 by all heirs
commission + Term assurance +
 Annexure I on Stamp
Gratuity is Rs.15000.00 or less
paper
 Form 3057 A by B.O.
Death certificate
Annexure H
Annexure J-1A
If amount of Renewal
Annexure L  Death certificate
Commission + Term assurance +  Death certificate
(surety’s consent letter)  Annexure F on stamp
Gratuity is more than  Annexure I on stamp
Annexure M on stamp paper
Rs.15000.00 but less than paper
paper and completed by  Annexure G
Rs.400000.00  Annexure H
heirs and surety  Annexure H
( up to 4000000 waiver of legal
evidence of title is allowed )
 Death certificate
 Legal evidence such as
If amount of Renewal
succession certificate,
commission + Term assurance +
probate, letters of
Gratuity is more than
administration.
Rs.400000.00
(Succession certificate from
competent court.)
Annexure F Declaration to be completed by nominee on stamp paper
Annexure G Letter to be given by the nominee each time the payment is made
Annexure H Questionnaire form to be filled by the heirs on the death of the Agent
Annexure I Declaration cum indemnity cum agreement bond
Annexure K Details of heirs of deceased Agent
Annexure L Letter to be completed by surety
Annexure M Deed to be signed by the heir / claimant and surety

6
GRATUITY Eligibility GRATUITY Term Assurance
Gratuity is payable to an Agent if he Agent may opt to take Gratuity at age Shall be based on the average annual
satisfies any of the following conditions: 60 or 65 renewal commission earned by an agent in
 He has continuously worked as an He has to give notice in writing to the three agency years immediately
Agent for 15 or more Qualifying Years SDM before attaining age 59
preceding his death.
and is not below 60 years of age. ( Before completing 59)
(or) Option letter to be forwarded to DO
 He has worked for 15 or more for approval with SBM's
recommendation. Avg. Commission Amount of
Qualifying years and his agency is
Option once exercised cannot be Term Assurance
terminated for any reasons other than
the reason under Rule 15 [b] or [c] or changed. Less than 1001 3000.00
16(1)[a], [b] or[C] If payment is delayed for more than 1 1001 to 14999 3000.00 + Half of the
month penal interest as paid for
excess of average
settlement for policy claims is to be
(or) commission over
paid.
1000
 Dies while his agency is subsisting. The date of eligibility will be the date when 15000 & above 10000.00
he complies with both the conditions 15 or
(or)
more qualifying years & 60 Yrs of age.
 He has been confirmed in his

appointment but his agency is
Gratuity Calculation
terminated on account of mental (or)
physical incapacitation [Rules 16(m).
The Relevant date is to be
 Note: An agent terminated under determined.
Rule 13 for non-fulfilment of business 15 Agency years preceding
Quota and who has 15 or more immediately is to be determined.
Qualifying years under his credit shall Renewal commission earned in
also be eligible for gratuity. Qualifying yrs in the 15 preceding
agency year is to be added.
The total should be divided by 180.
IMPORTANT TERMS:
( Eligible rate of gratuity)
The following 4 concepts are important for Total no of Qualifying Yrs is to be
Gratuity calculations. determined.
Formula:
 Relevant Date : Relevant date is the Eligible rate * 15 + 1/2(Eligible rate *
date of eligibility of Gratuity no of qualifying years in excess of 15
yrs up to 25yrs)
 Qualifying year : Qualifying Year Maximum Gratuity payable is 200000
means the year in which the agent has
completed MBG. Maximum Gratuity payable is 300000
w.e.f. 02.02.2017
 Qualifying Renewal Commission :
Renewal Commission earned in the In case of Death
Qualifying Years.
If the service is less than 15 year then
 Eligible rate. Qualifying yrs to be taken out of actual no
of years.
To find eligibility rate, instead of dividing
by 180 divide by 12 * actual no of years of
service.

7
Group Insurance for Tied agents Group Mediclaim
 All confirmed agents are eligible  Mandatory for all Club Members up to
 Age at entry 18 Yrs lbd to 69 Yrs nbd Age 85
 Letter has to be obtained as and when they are eligible for joining the scheme.  Premium to be deducted from
 New entrants can be added only in the next Annual Renewal Date. ( agents December month commission
appointed on or after 01.09.2017 will join the scheme only in next ARD )  Account code to be operated 113204
 Premium to be recovered in the commission cycle July, August & September  For Corporate Club members Premium
 Premium to be recovered only from Commission no other mode of payment is will be borne by corporation.
allowed.  Policy serviced by New India
assurance co. Ltd
Total Prem  TPA Med Assist India Pvt Ltd.
including
Service of GST@18% 17-
Premium GST Sum Assured Policy year 16 – 17 MY 15 - 16
Agent 18
w.e.f.
01.09.17 Club SA
Up to 3 Yrs 300 54 354 100000 Corp Club 500000
> 3 Yrs to 5 Yrs 900 162 1062 300000 Galaxy Club 400000
CM 300000
> 5 Yrs to 10
1500 270 1770 500000 ZM 200000
Yrs
DM 150000
> 10 Years 3000 540 3540 1000000 BM 100000
Policy No. : 12030034160400000005

Group Insurance for Club Members M Y 16 – 17 renewal 01.09.2016 Medi Assist India Pvt Ltd
I Floor, North Wing, Plot No.7
Club Members Sum Assured Premium Excom House, Saki Vihar road,
Corp Club 800000 2100 Saki Naka, Andheri ( E )
Galaxy Club 600000 1600 Mumbai – 400 072
CM Club 400000 1100
ZM Club 200000 560 New India Assurance Co Ltd
DM Club 110000 300 Door No.120300
BM Club 55000 150 New India Centre, 2nd Floor
17-A, Cooperage Road
 Service tax @ 15 % Mumbai 400 001
 Age between 18 to 69 (nbd) as on 01st September Phone : 022 22892738, 22892740
 Premium inclusive of Accident benefit
 Age above 69 years will get mementoes as per the revised amount specified.
 Account code for mementoes 113193
 Should be paid before 31st March.
Group Insurance for Brigade Members w.e.f. 01.09.2018 MY 2018 - 2019
 Premium to be paid by Brigade member

 Brigade member age from 18 to 69 (nbd)
 All members joined will continue in scheme till they are brigade members and upto
age 69 Yrs nbd.
Brigade Sum Assured Premium GST @ 18% Total Prem

Silver 8 Lakh 2600 468 3068
Gold 12 Lakh 3900 702 4602
Diamond 20 Lakh 6500 1170 7670
Platinum 30 Lakh 9750 1755 11505

8
Advance for Office Equipment Festival Advance Computer Advance
 Should have completed 5 Yrs  Agent should have completed 2 full Can be availed under any of the following
 Interest free for all Club members agency years. head:
 Others 9% pa payable Hly  One festival advance in a Calendar
 Recovery in 36 Instalments year. 1. Advance of Office equipment to all
 Actual market price or previous Yrs  Agent not completed 5Yrs – surety Club members or
Renewal Commission whichever is from confirmed employees of 2. Advance for Computer ( Only for CM
less. corporation with 5yrs of service. club )
 Once in 3 Yrs Maximum of 5 times  Recover in 10 instalments.
 Advance for different furniture only.  Should have given 12 lives and 6 Lacs  Maximum - Full purchase price or
 Same furniture can be purchased only SA in previous Agency year. One
after 5yrs from earlier advance. Lack or LYRC whichever is less.
 Exempted Agents 2 Lacs SA.
 Inspection report from BM I/C in  60 Instalments. ( Advance for
writing. Computer only for CM Club )
 Advance for purchase of Office Club Revised  36 Instalments ( Under Office
equipment only and not for Corporate Club 30000 equipment )
incidentals or Stationery, Service and  Interest @ 9% pa payable Hly
Maintenance etc. Club Galaxy 22000  No further advance within 3 Yrs
CM / ZM / DM 20000  Further advance can be availed after
BM 15000 3 Yrs but within 5yrs Approval ZM
Thread ceremony, Turban mundane, only
Nayjote Sunnat etc., Others completed 5
10000
agency Years
 Maximum of LYRC or 25000/- Agents completed 2
7000 General Conditions for Advance
Whichever is less. agency years
 Proof of expense not necessary but  Advances based on Previous Financial
proof of performance of ceremony to Year's Renewal Commission
satisfaction of BM is required. Flood / Drought Advance  Fast Conveyance no restrictions on
 Advance to be paid not earlier than 1 number of times 6 times without
month from function.  As applicable to Permanent Employees Interest, 7th time 9% pa Hly
 Interest @ 9% pa payable Hly for 2  Flood / Drought advance with other  Advance paid to Club members will
times advance excluding fast conveyance carry interest @ 9% during non club
 3rd time Interest @ 12% pa Hly. should not exceed LYRC membership period
 Maximum 3 times Only.  Only agents with more than 5Yrs
 4 Wheeler, Office equipment,
service are eligible.
Computer, Training advance
 Maximum loss or LYRC or maximum
Competent Authority SDM
Marriage of self, Daughter, Son & allowed to employees whichever is
 Payment only in the name of Dealer
Dependant Sister less
(Cheque may be sent through agent
on receipt of authourisation letter
 Actual expense or Last LYRC whichever from Dealer)
is less. Advance for Medical Treatment
 If advance not utilised for that
 Proof is necessary ( Invitation card ) purpose Recovery in 12Mths int @
 Advance can be granted only for  Medical Treatment for Self, Spouse,
18% Hly
marriage of Self, Children and children & dependent parent.
 Minimum Advance payable Other than
dependent Sisters cannot be granted  Hospital certificate, Bill to be
Festival, Flood/Drought, Training will
for Brothers, cousin sisters etc.. produced before payment of
be Rs.7500/-
 For children not more than 2 times advance.
 The monthly instalment of recoveries
 Interest @ 9% pa Hly for 2 times  Actual expense or Last FYRC whichever
of all advances should not exceed 60%
 3rd time onwards Interest @ 12% pa is less.
of Average monthly preceding
Hly.  For domiciliary treatment maximum
Financial Year Renewal Commission.
 Maximum 5 times Only. of 10% of LYRC or 25000/-
whichever is less
 Interest @ 9% pa payable Hly
Advance for Training
 Maximum Advance Rs.7500 or LYRC

whichever is less
 Interest Free
 Repayment 12 Instalments
 Attendance Certificate is must

9
4 Wheeler Advance 4 Wheeler Advance Other Conditions

First Hand Second Hand
 No restriction on number of times.
Corporate Club Galaxy Club  First six occasions interest free
Last 2Yrs Renewal Commission (or) 2/3 rd of Purchase price as determined by (including Two wheeler, Four wheeler
and 2nd hand purchase) from 7th
Purchase Price (or) repute garage (or)
occasion interest @ 9%.
20 Lacs whichever is less Renewal commission paid in last year (or)  Full purchase price shall be paid to
ED may grant maximum up to 30 Lakhs 2 Lakh whichever is less the dealer after receiving the balance
amount (if any) from agent.
Galaxy Club CM Club:  No advance granted for purchase of
Last 2yrs Renewal Commission (or) 2/3 rd of Purchase price as determined by 2nd hand Car which is more than 6yrs
Purchase price (or) Repute garage (or) old from date of Registration.
 No subsequent advance shall be
10 Lahk whichever is less Renewal Commission paid in Last Year (or)
granted within 8 / 5 yrs of previous
1.5 Lakh whichever is less advance granted for purchase of new /
CM Club: 2nd hand vehicle.
Last 2Yrs Renewal Commission (or) ZM Club:  Quarterly conveyance certificate
Purchase Price (or) 2/3 rd of Purchase price as determined by regarding maintenance & Utilisation
6 Lacs First time whichever is less repute garage (or) of vehicle for Corporation business
7.5 Lacs Second & Subsequent Renewal commission paid in last year (or) purpose to be obtained.
 When advance for repairs is availed no
1 Lakh whichever is less
advance for purchase will be granted
ZM Club: within the recovery period for repairs
Last 2Yrs Renewal Commission (or) Repayment in 60 instalments.
Purchase Price (or) Premature Repayment
5 Lacs whichever is less Two / Four Wheeler
Disposal of existing Car
Payable Basic cost + Vat + Road tax SDM I/C will be the competent authority to
In case of accident & Unserviceable - allow premature repayment for 2/4/
Repayment 72 Instalments
Authority SDM wheeler subject to the following
Interest free for Four Occasions.
Other case of premature disposal - conditions.
Authority ZM  To repay the entire amount (with
Other Agents: interest if any) in one lumpsum.
Outstanding advance to be realised in one
Last 2Yrs Renewal Commission (or)  Undertaking from agent that he will
Lump sum. not apply for any fresh advance for
Purchase Price (or)
5 Lacs whichever is less 2/4 wheeler till the completion of the
Advance for fast conveyance if both full repayment of term from the
Husband and wife are club members earlier advance.
Conditions:
Advance for Diaries and Calendars
PYRC 125000
PYFC 100000  Zonal Manager is the competent
Authority to sanction the advance  Minimum Rs.500.00
 Recommendations of SDM certifying  Maximum 25 % of Previous year RC
Payable Basic cost + Vat + Road tax that both agencies work  Interest free for Club members
Repayment 72 Instalments independently.  Other agents interest @ 12 %
Interest @ 9 %  Declaration from the club members
 Recovery in 3 instalments.
stating that vehicle will be used for
insurance purpose only.  Amount of outstanding advance
Interest Rates
should be Nil as on 31st March.
2 / 4 Wheeler 9 % where ever
2 Wheeler Advance
Office equipment applicable
Second Hand PENALTY
Medical treatment
Repair for 2/4 When the necessary proof of utilisation of
Advance not eligible for 2nd hand Two advance for the purpose is not produced
wheeler 9%
wheeler. within 2 months O/S advance shall be
Computer
House Repair recovered from the agent commission in
Marriage & I & II Occasion 9 % next 12 months together with 18 % interest
ceremonies III Occasion 12 % p.a. payable half yearly, whether the
Penalty 18 % advance carried interest or not.

10
CAREER AGENTS
RCA
 Term Stipendiary agents means both Stipend for CCA Min age 18
RCA & CCA. Max 35 Yrs ( may be relaxed by 5 Yrs in
 PDO/CDO can recruit stipendiary Stipend payable on Quarterly basis based exceptional cases by RM Mktg / ZM.
agents equivalent to 25% of no. of
on business performance Max age for SC / ST candidates 40 Yrs
agents in their organaisation max of 20
agents.
 SBA can recruit stipendiary agents City Class Amount Stipend payable on Monthly basis based
equivalent to 40% of no. of agents in Cat 1 4000 pm on mly business performance
their organaisation max of 25 agents. Cat 2 3000 pm
 Cut-off date for deciding total no. of Year Amount
agents shall be the last day of previous w.e.f. 01.09.2016 First 1500 pm
month. Stipend payable on Monthly basis based on Second 1200 pm
 The fraction for no. of agents to be mly business performance
rounded off to the lower number.
w.e.f. 01.09.2016
 Development officer will get full credit
for the business of CCA provided CCA City Class Amount Stipend payable on Monthly basis based
has earned stipend for all 12 months. Cat 1 7000 pm on mly business performance
 If CCA gets stipend for less than 12 Cat 2 6000 pm
months then 50% credit of SFYPI up to Year Amount
3 lakh continues. First 5000 pm
 Development officer will be granted Second 4000 pm
50% credit initially in the appraisal year Minimum Business performance excluding
in which CCA is appointed.
bonus commission Minimum Business performance
 Balance 50% credit will be given in the
appraisal period in which agency year excluding bonus commission
ends after verifying the stipend earned Month FYC Rs Lives
and MBG of the agent. Month FYC Lives
1 1200 1
 ADOs will not be eligible to recruit 1 to 6 1200 pm 2 pm
2 1200 1
CCAs. 7 to 12 2800 pm 3 pm
3 1800 1
4 1800 1
5 2400 2 Total FYC 24000 & 30 Lives
6 2400 2
7 2800 2
8 2800 2 If clears CIS exam within 18 months
RCA Two Wheeler Advance 9 2800 3 onetime incentive of RS.1000/-
10 3600 3
11 3600 3
 After Six months from date of
12 3600 3
appointment.
 Should have completed 40 Lives & Total 30000 24
30000 FYC
 Purchase price or Maximum of 35000
 Sanctioning Authority SDM.
 Two Surety one confirmed employee
or bank guarantee for entire amount
Recovery 24 instalments from Stipend or
Commission.

11
CCA Stipend Example RCA Stipend Example
Month Target Actual Target Actual

Month
FYC Lives FYC Lives Lives FYC Lives FYC
1 1200 1 1 2 1200 1 1200
2 1200 1
2 2 1200 1 900
3 1800 1
3 2 1200 1 1200
4 1800 1
5 2400 2 4 2 1200 2 1400
6 2400 2 5 2 1200 4 2700
7 2800 2 6 2 1200 0 0
8 2800 2 7 3 2800 2 1200
9 2800 3 8 3 2800 15 9000
10 3600 3
9 3 2800 22 10000
11 3600 3
10 3 2800 0 0
12 3600 3
11 3 2800 0 0
12 3 2800 0 0
Same as mentioned for RCA  He will not get the stipend for the 1st, 2nd, 3rd months.
 For the 4th month he will get stipend for the month.
 For the 5th month he gets the stipend as he has fulfilled
the quota. Out of the balance of 2 lives one life gets
adjusted 3rd month. Stipend of 3rd month gets released.
Remaining 1 life and 300 FYC gets adjusted towards
shortfall in 2nd month. The 2nd month’s stipend released.
 6th month, no stipend.
 7th month, no stipend.
 8th month stipend released and balance would be
adjusted towards the shortfall of 7th, 6th and 1st months.
Hence, stipend for 7th, 6th and 1st month gets released.
9th month he has been able to meet the requirements of
the 9th month and the balance business will meet the
requirements of the 10th, 11th and 12th month. so even if
he gives nil business in the remaining three months,
stipend will be paid for all the three remaining months

12
AGENTS CLUB
CLUB ELIGIBILITY
Club Min Net Net No. of No. of Lives FY Renewal

Lives Lives in Force Commission Commission The Criteria will have to be fulfilled in Qualifying
CM 40 130 600 200000 200000 Year and in any two out of three Financial Years
preceding the Qualifying year for both Entry and
ZM 30 100 400 140000 140000
Continuation.
DM 20 80 250 60000 90000
BM 15 50 150 35000 50000
Escalation Clause
Escalation for CM Club For New Entry : M Y 17 – 18
Continuation : M Y 18 – 19
Entry Continuation
MY FY Escalation by 5 % each year on Previous years existing criteria in
RC FYC RC FYC
respect of First year commission paid and Renewal commission
16 – 17 15 – 16 200000 200000 200000 200000
paid Rounded off to nearest thousand.
17 – 18 16 – 17 210000 210000 200000 200000 Exemption
18 – 19 17 – 18 210000 210000 210000 210000 Agents attained age of 60 Years and more and has been a CMs or
19 – 20 18 – 19 221000 221000 210000 210000 ZMs club continually for last 10 years would be exempted from
20 – 21 19 – 20 232000 232000 221000 221000 Escalation clause for the purpose of continuation in the
respective club.
21 – 22 20 – 21 244000 244000 232000 232000
For agents exempted as per above conditions the continuation
Escalation for ZM Club criteria would be the criteria in qualifying year prior to the
membership year from which exemption has been granted.
Entry Continuation
MY FY
RC FYC RC FYC
RELAXATION CLAUSE
16 – 17 15 – 16 140000 140000 140000 140000
17 – 18 16 – 17 147000 147000 140000 140000 First Year Commission Renewal Commission
18 – 19 17 – 18 147000 147000 147000 147000 Shortfall in fulfilment of First A shortfall in fulfilment of
19 – 20 18 – 19 154000 154000 147000 147000 Year Commission (paid) may Renewal Commission paid
20 – 21 19 – 20 162000 162000 154000 154000 be condoned maximum up to condition may be condoned up
21 – 22 20 – 21 170000 170000 162000 162000 50%, provided it is to a maximum of 100%
compensated with the same or provided it is compensated
Escalation for DM Club higher percentage increase on with the same or higher
the basic condition prescribed percentage increase on the
for Renewal Commission paid. basic condition prescribed for
Entry Continuation
MY FY First Year Commission paid.
RC FYC RC FYC
16 – 17 15 – 16 90000 60000 90000 60000 Relaxation in fulfilment of qualifying criteria:
17 – 18 16 – 17 95000 63000 90000 60000 An agent who has completed the age of 60 years as on the date
18 – 19 17 – 18 95000 63000 95000 63000 of commencement of club membership year and had been a
19 – 20 18 – 19 100000 66000 95000 63000 continuous member of the same club for not less than 15
membership years can continue the membership of the same
20 – 21 19 – 20 105000 69000 100000 66000
club by fulfilling at least 75% of the criteria applicable for that
21 – 22 20 – 21 110000 72000 105000 69000 club.
Escalation for BM Club Life Membership of Clubs

Life Membership for Chairman’s and Zonal Manager’s Clubs will
Entry Continuation be granted on fulfilment of any of the following conditions:
MY FY
RC FYC RC FYC  Minimum age of 60 completed years as on the date of
16 – 17 15 – 16 50000 35000 50000 35000 commencement of Club Membership year; and Continuous
17 – 18 16 – 17 53000 37000 50000 35000 membership in the same club (either Chairman’s or Zonal
18 – 19 17 – 18 53000 37000 53000 37000 Manager’s club) for not less than 15 membership years
19 – 20 18 – 19 56000 39000 53000 37000 OR
20 – 21 19 – 20 59000 41000 56000 39000 Continuous membership in the same club (either Chairman’s or
21 – 22 20 – 21 62000 43000 59000 41000 Zonal Manager’s Club) for not less than 25 membership years.

13
Non – Regular Agents Relaxed Agents. Basic Office Allowance Sales Promotional Gift Items
If an agent does not fulfil the conditions of minimum Net
no. of lives in the FY he will be allowed to continue in any  50 % of actual expense Club Amount
(or) CM 3000
club as per table.
 7.5 % of total commission ZM 2000
No. of continuous (or)
Relaxation DM 1000
membership in any  Maximum for Club
allowed BM 500
Club Members as below DAC 400
CM 35,000
5 1 Occasion ZM 22,000
DM 12,000
10 2 Occasion
Graded Office Allowance
The agent will get the benefit of continuity as that
applicable to the lowest club membership held during Performance Slab in Graded Telephone Sales
Qualifying FY Allowance Promotional
his/her continuous membership of 5 or 10 years as the
Gifts
case maybe. He will get the monetary benefit in such a
No. of Lives 750 &
year of failure of such lowest club. 40,000 7,000 4,000
RC 5,00,000 or TC 7,50,000
If an agent fails to fulfil other conditions other than No. of Lives 1000 &
minimum net No. of lives he will be treated as Non RC 6,00,000 or TC 45,000 8,000 5,000
regular club member and will not be eligible for any 10,00,000
monetary benefits, including attending convention, No. of Lives 1250 &
Group mediclaim, GI for Club agents. Etc. They are RC 7,50,000 or TC 50,000 9,000 6,250
eligible for Functional privileges only. 12,50,000
Training No. of Lives 1500 &
RC 9,00,000 or TC 60,000 10,000 7,500
15,00,000
Every agent who is a member of any club new or No. of Lives 1750 &
continuation will be required to undergo training at RC 10,50,000 or TC 70,000 11,000 8750
ZTC/STC /Jeevan Vidya Trust or training by similar other 17,50,000
training institute as may be approved from time to time, No. of Lives 2000 &
failing which the club member agent shall be ineligible RC 12,00,000 or TC 85,000 12,000 10,000
for continuation of the benefit of the Office Allowance 20,00,000
and interest free loan/advances in the following year. Telephone Expenses
Additional Office Allowance
The Competent Authority, may however, at its sole
discretion, allow reimbursement of the Office Allowance Club Amount
and condone interest in exceptional circumstances if it is CM 6000 % of Avg Lapsation Additional Office
satisfied that requirement of training could not be ZM 4000 (Last 3Yrs Avg) Allowance in %
fulfilled due to reasons beyond the control of the agent. 10 or less 5
DM 2400
9 or less 8
BM 1800
The reasons for allowing the benefit etc shall be 8 or less 10
recorded in writing. 7 or less 12
In such case, the said agent shall have to undergo Computer Allowance 6 or less 15
training positively in the following year of continuation W.e.f. MY 15 - 16 5 or less 18
failing which recovery of amount so reimbursed and/or 5% of Maxi 4 or less 20
interest condoned together with interest @ 12% shall be excess 3 or less 22
recovered from his/her commission. of tot 2 or less 25
comn 1 or less 28
pd 0 30
 The Life Members are not governed by this
provision. over
 Club Members aged 60 years and above are CM 185000 10000 Letter Head, Envelope & V. Card
exempted. ZM 130000 5000
 The training taken shall be valid for a period of 4 DM 80000 3000 Club V. Card No. Envelope No.
CM 250 1000
years from the date of completion of the training.
ZM and DM should have ZM 200 750
 The MDRT Training given to MDRT Qualifiers at the
premium point. DM 150 500
Zonal Training Centres would also be counted as an BM 100 300
approved training. Stationery DAC 100 200
 The certificate issued by ZTCs will be recognised as BM Club 1000
proper for the purpose of Club Membership DAC 500
benefits.

14
GALAXY CLUB
Relaxation
Eligibility
 Registration with MDRT USA is pre- In case any member could not meet the
requisite for the club Galaxy for Registration with MDRT not mandatory
requirement for continuation due to
agents. w.e.f. MY 2018 – 2019
shortfall in First year Commission or First
 Registration should be valid at the
time of admission and continuation in Criteria for Entry M Y : 2018 - 2019 Year Premium he may be granted the
the club. membership of the club by SDM (I/C)
Qualifying Year F Y : 2017 – 2018 If :
First Year Commission : 10 Lakh (without  He has fulfilled 80% of the stipulated
Criteria for Entry M Y : 2017 - 2018 performance for continuation in the
Bonus Commission )
current Qualifying year.
( or )
Qualifying Year F Y : 2016 – 2017  SDM is satisfied that the reason for
First Year Premium : 40 Lakh (Credit for shortfall were extraordinary and
First Year Commission : 10 Lakh (without
single premium 6%) beyond his control.
Bonus Commission )
 The agent had become member of the
( or ) club without availing this relaxation
( And )
First Year Premium : 40 Lakh (Credit for clause during two consecutive
single premium 6%) qualifying year preceding the year in
F Y preceding the qualifying year 2016 –
( And ) which he desires the relaxation.
2017
First Year Commission : 8 Lakh (without Agents under relaxation clause will not be
F Y preceding the qualifying year 2015 –
Bonus Commission ) eligible for:
2016
( or )  Club convention or reimbursement for
First Year Premium : 33 Lakh (Credit for air fare for MDRT meet
Bonus Commission )
single premium 6%)  Only 50% of Office allowance and
( or ) telephone reimbursement.
First Year Premium : 33 Lakh (Credit for
Criteria for Continuation M Y : 2018 - 2019
single premium 6%) Transfer of business credit for continuation
Qualifying Year F Y : 2017 – 2018
Criteria for Continuation M Y : 2017 - 2018 In case of shortfall in business and
commission during the qualifying year,
Bonus Commission )
Qualifying Year F Y : 2016 – 2017 the business and commission in excess
( or ) of eligibility criteria for the year
First Year Premium : 40 Lakh (Credit for immediately preceding the current
Bonus Commission )
single premium 6%) qualifying year may be transferred to
( or ) current qualifying year.
First Year Premium : 40 Lakh (Credit for Maximum credit by way of such
First year lapsation at the end of qualifying
single premium 6%) transfer should not be more than 20%
year should be less than 10% for both entry
of current qualifying years eligibility
and continuation in the club.
First year lapsation at the end of qualifying criteria.
year should be less than 10% for both entry Such agent would be eligible for all the
benefits for this club.
and continuation in the club.
Letterhead
Other Payments
Letter head Envelope
One time Incentive
210mm * 145mm 9” * 6” *
Telephone Expense : 12000.00 per annum  For CM Club member entering Galaxy
Club Blazer Rs.5000.00 Once in 3 Years. 297mm *227mm 4” 3.5”
club for the first time w.e.f. MY 2018-
2019. 250 750 250 750
DA for tour, GI, Mediclaim & Diaries and  Only once during the agency career
Calendar complementary as applicable for  Amount of Rs.25000.00
CM Club members.

15
Galaxy Club Convention Office Allowance
 Attend club convention at a place 50% of total expense as per table below
decided by competent authority
(Rs.20000 out of pocket expense). Rent Actual
 Attend MDRT meet / MDRT experience
Salary paid Actual
meet actual air fare or Rs.60000
whichever is less and out of pocket Postage Actual
expense 10000. Stationery Max 3000.00
 Visit place of choice along with family General
members (spouse, child, parent Max 5000.00
maintenance & EB
parent-in-law). Reimbursement max of
25% of actual EB provided if the office is
35000 based on declaration subject to
deduction of IT as per rules. not at the residence of the agent.
 Attending training programme at Entertainment
Max 5000.00
repute institute for which an all expense
inclusive amount of Rs.40000 will be Expense for
reimbursed. Max 10000.00
computer
 Training institute to be approved by
RM Marketing.
 Prior approval of training is mandatory. ( or )
100000.00 (one lakh) whichever is lower.
 When both the agent and his / her

spouse are members of club galaxy,
then in such case office allowance will
be payable only to one member agent.
If spouse of galaxy club is member of either
higher or lower club then member agent
who is in high club may claim the office
allowance applicable for his / her club.

16
CORPORATE CLUB
Eligibility Office Allowances One time Incentive
 For CM Club member entering
M Y : 2018 – 2019 Member of Quantum of Corporate club for the first time
First Year Commission for entry Corporate Club Allowance  w.e.f. MY 2018- 2019
18 Lakhs in Qualifying Financial year 2017 –  Only once during the agency career
2018 50% of actual  Amount of Rs.40000.00
18 Lakhs in Financial Year Preceding expenses as
Qualifying year ( 2016 – 2017 ) For consecutive detailed below
5 Years Or
First Year Commission for Continuation 175000 Out of pocket expense for attending club
At least 36 lakhs in the Qualifying F Y 2017 – Whichever is less convention
2018 and in the F Y preceding the qualifying w.e.f. M Y 2017 – 2018
year 2016 - 2017 . Outstation members Rs.10000.00
50% of actual Local members Rs.1500.00
Subject to minimum F Y C of at least 15 Lakhs
expenses as
in the F Y 2017 – 2018. Consecutive 3
detailed below
years but less
Or Additional Incentive
F Y C includes F Y C paid only on LIC business than 5 years
150000
(excluding any Bonus commission,
Whichever is less Corporate Club Member who have
commission on P&GS / Mutual Fund
qualified for
Business).
50% of actual  Eligible for
Lapsation: expenses as
Not falling reimbursement up to
First year lapsation not to exceed 10 % detailed below
under above 2 maximum of Rs.80000.00
Or or actual Air fare
category
125000 whichever is less.
Whichever is less  Reimbursement of MDRT
MDRT
registration fees
 Rs.15000.00 as out of
Rent Actual pocket expense for
Salary paid Actual attending MDRT annual
Postage Actual meet
Stationery Max 3000.00
General  Eligible for
maintenance & Max 5000.00 reimbursement up to
EB maximum of Rs.80000.00
25% of actual EB provided if the office or actual Air fare
is not at the residence of the agent. whichever is less.
Entertainment  Reimbursement of MDRT
Max 5000.00 COT
expense registration fees
Expense for  Rs.25000.00 as out of
Max 10000.00
computer pocket expense for
attending MDRT annual
No additional office allowance payable. meet
Telephone Expense 15000.00 PA.
 Eligible for
 When both the agent and his / her reimbursement up to
spouse are members of Corporate maximum of Rs.80000.00
Club, then in such case office or actual Air fare
allowance will be payable only to whichever is less.
one member agent.  Reimbursement of MDRT
TOT
If spouse of Corporate club is member of registration fees
either higher or lower club then member  Rs.50000.00 as out of
agent who is in high club may claim the pocket expense for
attending MDRT annual
office allowance applicable for his / her
meet
club.

17
C L I A
Eligibility Escalation Clause Minimum Business Requirement ( M B R )
 Should have completed minimum of The CLIA shall bring in TFYP called MBR
age 21 yrs, Year of joining Min FYP to be from his supervised agents If the CLIA fails
 Should not have completed 65 yrs of as CLIA brought during to procure MBR he shall not be eligible for
age Review year any allowance except Activisation
 ZM can relax upper age limit on 2008 – 2009 7,50,000 allowance & Productivity linked allowance
2009 – 2010 8,25,000
enrolment beyond 65Yrs. Upto 69 Yrs if any in the review year.
2010 – 2011 9,00,000
 Club Members DM and above.
2011 – 2012 9,75,000
 FSE with 3Years of standing M B R Clause
2012 – 2013 10,50,000
 Retired Employee of corporation in 2013 – 2014 11,25,000 (Minimum Business Requirement)
the class I, II and III Cadre having LIC 2014 – 2015 11,25,000 w.e.f. Review Year starting in
agency 2015 – 2016 11,25,000
FY 2016 – 2017 & 2017 – 2018
Exit from the Scheme New CLIAs enrolled in
FY 2016 – 2017 9,00,000
 On demotion of club lower than DM Activisation Allowance
Club member. On supervised agent becoming active CLIAs enrolled prior to
 Maximum age upto which CLIA can Rs.1000/- per supervised agent will be paid. 01.04.2016 11,25,000
work shall be 75Yrs. (Other than agents own life policy)
 ZM is authorised to grant extension
beyond 75 Yrs to work upto Productivity Linked Allowance
completion of age 80 on case to case Paid an Amount as per table below. FY 2018 – 2019
basis subject to conditions mentioned Supervised agent should complete 12 lives New CLIAs enrolled in
below. FY 2018 – 2019 10,00,000
with at least 1.5 Lakh FYP.
o Should seek extension after Eligible criteria Amount of
completion of 74 Yrs of age completed within benefit For CLIAs continuing as
but before completion of 75 3 month from date on 01.04.2018 12,50,000
2000
Yrs of age. of appointment
o Performance of CLIA as on 6 month from date
1500
of appointment
date of his application (in
12 month from
current review year) or on date of 1000
the date of completion of Allowance for MDRT/COT/TOT
appointment
last review year should be An amount specified as below per
one of the following. Rs.1000 from the next Review Year supervised agent payable to CLIA
The CLIA should have minimum of 10 active Qualified only on basis of Commission
supervised agents Training Allowance (without Bonus commission)
Or And
The CLIA should have fulfilled double of the Mentorship Allowance Eligibility Amount payable
prevailing MBR criteria
20% of FY Commission + Bonus commission MDRT 10000
o SDM I/C to certify that the CLIA earned by supervised agents. ( 10% for COT 30000
seeking extension is physically active. Training & 10% for Mentorship Total 20% ) TOT 60000
o DMR / ZMR to certify that he is
medically fit to work.  Should have 5 supervised agents.  Should have 5 supervised agents with
 CLIA should bring total FYP ( total FYP 1.5 lakh FPI each
of supervised agents ) as shown in  CLIA should bring total FYP ( total FYP
MBR clause of supervised agents ) as shown in
MBR clause

18
Brigade Membership Allowance Club Membership Allowance
M Y 2018 – 2019 F Y 2017 - 2018  Should have 5 supervised agents with

1.5 lakh FPI each
Name New Entrants Cont Memb Active Qual  CLIA should bring total FYP ( total FYP
FYP or Lives FYP or Lives agent Agt of supervised agents ) as shown in
Silver 30 Lakhs or 250 Lives 32.5 Lakhs or 275 Lives 8 6 MBR clause
Gold 50 Lakhs or 450 Lives 55 Lakhs or 475 Lives 10 6
Diamond 80 Lakhs or 750 Lives 90 Lakhs or 800 Lives 12 8 An Amount as per table per supervised
Platinum 200 Lakhs or 1350 Lives 225 Lakhs or 1400 Lives 20 12 agent payable to CLIA
M Y 2019 – 2020 F Y 2018 - 2019 Club status Amount

BM Club 10000
Name New Entrants Cont Memb Active Qual DM Club 20000
FYP or Lives FYP or Lives agent Agt ZM Club 30000
Silver 30 Lakhs or 250 Lives 35 Lakhs or 275 Lives 8 6 CM Club 40000
Gold 60 Lakhs or 450 Lives 65 Lakhs or 475 Lives 10 7 Corp Club 75000
Diamond 100 Lakhs or 750 Lives 110 Lakhs or 800 Lives 12 8
Platinum 250 Lakhs or 1350 Lives 275 Lakhs or 1400 Lives 20 12 Galaxy Club 50000
w.e.f. Club MY 2018 – 2019 and Review
year of CLIA starting from 01.04.2018
Brigade Member Benefits
50% of Amt applicable to the club is
Silver Certificate + Membership Allowance 5% of FYC(including BC ) Paid to payable if supervised agent continues his
supervised agents + Memento worth Rs.500.00 club membership
Gold Certificate + Membership Allowance 7.5% of FYC (including BC) paid to If supervised agent moves to higher club
supervised agents + Memento worth Rs.1000.00 the amt specified against the higher club
Diamond Certificate + Membership Allowance 10% of FYC (including BC ) paid to will be payable.
supervised agents + Memento worth Rs.2000.00 If supervised agent moves to lower club
Platinum Certificate + Membership Allowance 12.5% of FYC (including BC) paid to 50% of the amt specified against the lower
supervised agents + Memento worth Rs.3000.00 + One day convention club will be payable.
with Air Fare.
A/C code for issue of Certificate, Trophy & other Expense 113683 w.e.f. MY 16-17
Credit for Plan 842 Pradan Mantri Vaya Vandana Yojana
Category Parameters Credit

Activisation Allowance Policy Full Credit
No. of Lives Full Credit
Productivity Linked Allowance
FYPI No Credit
FYPI No Credit
Training & Mentorship Allowance
Commission Full Credit
No. of Lives Full Credit
Brigade Membership FYPI No Credit
Commission Full Credit
Plan 842 should be excluded for preparing all merit list and competitions.

19
DEVELOPMENT OFFICRES MATTERS

Conveyance Allowance Stagnation Increment Tour Expense
Without Fast Deduction  A development officer who has Type of Develop Non Dev
Conveyance per Day reached maximum of pay of scale, Vehicle tour Rate tour Rate
PDO 1400 28 may be granted an additional to the / KM / KM
CDO 1800 36 basic pay equal to the last increment Petrol car 2.90 2.30
Two Wheeler drawn by him. Diesel car 2.1 1.7
PDO 2000 40  On the first day of month following Two
completion of every three completed 1.00 0.80
CDO 2500 50 wheeler
years of service after reaching such a
Four Wheeler maximum subject to maximum of Four
No Lives in such additions. Laptop / Desktop Advance
last  The cost ratio should not be more
Appraisal than the prescribed Expense limit in all  Only for confirmed Dos
< 700 3600 72 the three years under consideration.  Laptop 60000 Desktop 36000
700 - 900 4500 90  Interest free
901 - 2000 5800 116 W.E.F. : 01.10.2017  FPI 15 lacks & above under Individual
2001 -
7200 144 • Aggregate Annual Remuneration of excluding pension & single for last 2
3000 the immediately preceding the due FYs
3001 - date shall be divided by the aggregate  If service < 5 Yrs surety from employee
10800 216
4500 completed 5yrs service
eligible premium and the resultant
4501 & > 14000 280  If condition not fulfilled 9% interest
cost ratio should be within the
 Recovery in 60 instalments
prescribed limit as per the Special 
 Additional FCA of 10% if CR less than Competent authority SDM
3% in last appraisal year Rules 2009(Amended as in 2016).  Any no. of times provided previous
 Deduction per day has to be increased advance should be cleared.
by 10% of the rate specified against Mobile handset Reimbursement
FCA  All confirmed Dos are eligible. Visiting Cards
 FCA & additional FCA will not be paid  Cost of handset or Rs.8000/-
for the period the insurance not No. Lives in No of
whichever is less
Appraisal Year Cards
renewed / road tax not paid.  A/C head other advance to employees
 C A to be deducted for each day leave  New mobile handset after expiry of First 200 200
in excess of 30 days in F Y excluding 3yrs from date of purchase of earlier
CL, EOL, Dies non as per rate handset. 201 to 300 250
mentioned.  In case DO compulsorily retires / 301 to 400 300
Meal coupon Ref:Mktg/DO/58 removed / dismissed from service
under special rules / resignation / VRS 401 to 500 350
Example 1: Meal coupon paid based on he will have to pay the notional
501 and Above 400
attendance = 160 days. depreciated value.
No. of Policies procured = 110  Normal retirement within 3 yrs need
not pay the notional amount.
Meal coupon payable = 110
 No option for surrendering handset Unit Meeting
Days. instead of paying notional value.
Example 2 : Meal coupon paid based on  Notional depreciation will be 30 % per  No reimbursement to be made to any
attendance = 290 days annum. Officials
No. of Policies procured = 290  Payment to be made directly to
Meal coupon payable = 285 vendors only
Monthly mobile bill reimbursement
days.  A/C code 113654
Example 3 : Meal coupon paid based on
 Rs.500/- pm
attendance = 100 days A Class 400
 Cost Ratio 10% or less
No. of Policies procured = 125 B Class 300
Will be included in annual remuneration
Meal coupon payable = 100 C Class 200
days.

20
SCHEME II
Non eligibility of Conveyance
 Will be decided on the basis of average Quantum of Advance
Non Renewal of Insurance / Road Tax. Cost Ratio in previous 5 appraisals.
Development officer is eligible only for  Shall be eligible for advance even after Amount of
Pedestrian allowance during the period. completing 4 appraisal years provided
advance or
that average of four appraisals in all Average C R
the counts works out to criteria of 5th Purchase price
Enhanced Conveyance allowance
appraisal year ie. Qualifying appraisal whichever is less
for non IB earner.
year. Above 10% to 16% 500000
 Should be Non IB earner.  Development officer should not have Above 3% to 10% 700000
 Cost Ratio should be within Expense earned disincentive in any of the four
limit. 3% or Less 900000
appraisal.
 SFYPI not less than 7.5 Lakhs in  Cost Ratio to be rounded off to the
relevant appraisal. nearest decimal
 Request letter from development ie. 3.04 = 3.00%, 3.05 = 3.10% Repayment
officer.
 Under no circumstances vehicle
 To be added to cost.
advance shall be granted to Repayment period 8 years 96
development officers with cost ratio Instalments.
With fast Conveyance = 2000 above 16% in any of the 4/5 appraisals Premature disposal subject to
Without fast Conveyance = 1800 at any point of time. following conditions.
 Development officer cannot get more Car has run for 5 Years
Rs.1000.00 per agent terminated above than 5 advances for purchase of four Outstanding advance has to be repaid
one to be deducted from enhanced wheeler during his entire service. in full.
conveyance allowance payable.  Insurance premium and Road tax will Cost Ratio is less than 3% in last
be limited to amount advanced. completed appraisal (or) Cost Ratio
For continuation:
has come down by at least 3% in the
There should be net addition of 3 agents if last five appraisal years.
the net addition is below 3 agents amount Competent authority for premature
Year SFYPI No. of Prod C
will be payable as per table. disposal in the above case will be SDM
In Lives Agents R
Without All the other cases which do not fall
Net agents With Fast Lacs under the above category to be
Fast
1 13 600 15 16 referred to ZO.
2 1200 1500
2 14 650 18 16
1 800 1000
3 15 650 18 16
0 300 400
4 16 650 20 16 One more category has been introduced
Below
5 18 650 20 16 under scheme II w.e.f. 10.06.2014
Existing NIL NIL
level
 SDM may allow shortfall up to 20% in  Maximum advance under the scheme
Supply of Briefcase/Leather bags any of the three counts SFYPI or No. of Rs.350000 or purchase price
 For confirmed Dos only Lives or Productive agents provided the whichever is less.
 Once in 3 Yrs from date of last shortfall is compensated in either of  Development officer has to work with
reimbursement the other two counts or both in that cost ratio 16 % or less in each of last
 Rs.2500/- including tax particular appraisal year. three consecutive appraisals.
 Bill has to be produced  Shortfall in productive agent may be  Advance shall be granted only once in
 Not a part of annual remuneration compensated with growth in either entire service.
SFYPI or No. of lives or both together in  Premature disposal not allowed.
Supply of Stationery the same appraisal year.  Repayment 60 instalments.
 Shortfall up to 20% in any two counts  Advance will attract 9 % interest if
Policies in Amount
can be compensated by equivalent development officer exceeds cost
Previous F Y
growth in the third count in the same ratio in any of the appraisal year (16
Up to 499 & PDO 600
appraisal year. %).
500 – 750 1200
 This compensation is being extended
751 – 1000 1800
up to 31.08.2016.
1001 – 2000 3000
2001 – 3000 4000
3001 & Above 5000

21
S B A
Eligibility Reimbursement for Office Maintenance per Minimum Transactions in a month
month w.e.f 01.12.2012 w.e.f. 01.12.12
• He has completed 5 Years of service Cat I Cat II Cat III
• Has worked at CR 5% or less in last Minimum 1st 2nd 3rd 4th
completed appraisal 30000 24000 18000
Amount Qtr Qtr Qtr Qtr
W.E.F. 18.12.2017 Revised OMA w.e.f. 01.04.2016 Renewal 275 365 485 540
Premium pm pm pm pm
 Has completed 3 Years of service Cat I Cat II Cat III
 Has worked at CR 5 % or less in last Minimum
36000 28800 21600 No. GC
completed appraisal Amount under
or
unit/U
Has worked with CR 8 % or less The amount as shown will be reimbursed 50 70 90 100
Proposal/
with subject to minimum transactions in a pm pm pm pm
prop dep
2 Cr TFPI or month as given. coll taken
1500 Policies or w.e.f. 01.01.2015 altogether
50 agents in last completed
appraisal year Cat I Cat II
 Have his own Office. • Shortfall in transactions through
Coimbatore, Kannur, Kochi, portal can be compensated during
Kozhikode, Madurai, any month in the same Financial
ZM can waive the Cost Ratio upto 1 % in Chennai
Mallapuram, Trissur, Year
both the criteria for entry condition. Trivandrum • Should have at least 30 proposal
deposit through portal in the default
One time interest free advance for Office Payment of OMA w.e.f. 01.01.2018 month
renovation, infrastructure, purchase of Basic Office Maintenance per month • This 30 transactions include U
furniture, etc.
Proposal, I Proposal, Proposal
Cat I Cat II Cat III deposit etc. in portal and Green
Particulars Cat I Cat II Cat III
Minimum channel completed at BO and SSO.
36000 28800 21600
Max adv 150000 125000 100000 Amount • If the SBA had completed less than
Repayment 48 Inst 48 Inst 48 Inst 30 such transactions for any month
OMA payable based on Cost Ratio he will, under no circumstance, be
1st 1st
Inst per 2565 2240 eligible for OMA, even if shortfall is
3125 Cost Ratio Eligible OMA made good in any of subsequent
month Rs. 2 to 48 2 to 48
2605 2080 150 % of Basic months.
UP to 1 %
OMA
More than 1% 140 % of Basic Entertainment Expenses
to 2% OMA
More than 2% 130 % of Basic Total transaction Quantum of
to 3% OMA payment
Transaction Fees
More than 3% 120 % of Basic 1000 or Above 1000
to 4% OMA 750 to 999 750
 Transaction fee of Rs.6/- per policy
More than 4% 110 % of Basic 500 to 749 500
(Renewal premium/ proposal deposit).
to 6% OMA
 Rs.30 per policy for collection proposal
More than 6% 100 % of Basic Renewal premium, prop deposit, i-
deposit, registration, scanning,
to 8% OMA proposal submission and U proposal
underwriting & submission of U
More than 8% 90 % of Basic underwriting
proposal under E2E portal.
to 9% OMA
 Rs.10 per policy collection of proposal
More than 9% 80 % of Basic Relaxation in CR due to Arrears in
deposit, submission & registration of E
Proposal. to 10% OMA Wage Revision
More than 10% 70 % of Basic • Maybe allowed to continue as SBA
to 11% OMA provided CR does not exceed 7 %
Advance for purchase of Scanner
More than 11% 60 % of Basic • Will be applicable for appraisals
to 12% OMA ending 04/2015 to 03/2016 only
 One time interest free advance
More than 12% 40 % of Basic • After excluding the arrears of wage
 Quantum of advance Rs.8000/- or
to 15% OMA revision the CR should be 5% or less
purchase price whichever is less
• CR does not exceeds 7% including
 Recovery in 5 equal instalments More than 15% NIL
wage arrears and CR between 5%
 Competent authority SBM and 6% excluding Wage arrears falls
 Other existing conditions for advance under relaxation category by ZM.
will be applicable.

22
Additional OMA for Non Regular SBAs WITHDRAWAL OF NON REGULAR

High – Performing SBA SBA SCHEME
w.e.f. 01.04.2016 (SBAs exceeding CR ie. Above the
relaxation limit by ZM)  Non Regular SBA has been withdrawn
Performance w.e.f. 18.12.2017
Additional OMA
during F Y Non regular SBAs are not entitled for  No new permission for Non Regular
3000 Policies or SBA scheme can be given by SDM
3 Crore FPI o Appointment of agents across country  Existing Non Regular SBA who fulfil
& o Appointment of agents outside HQ the revised conditions to apply to join
One time o Underwriting Power for E2E as SBAs before 28.02.2017.
Recruit & Activate
Lumpsum
5 new Agents with o Competition for SBAs  On joining the new scheme they will
10 % of total OMA o Advance for Scanners be governed by new scheme.
3 Policies or 10000
paid during the FY o Entertainment Expense  They will get OMA as per new scheme.
FPI each new
agent  If they have not opted for new scheme
O M A for Non Regular SBAs they will be governed by previous Non
5000 Policies or Regular scheme till they complete
5 Crore FPI • SBA exited on or after 01.04.2015 will their stipulated 2 years period.
& be eligible  Existing Non Regular SBAs who have
One time • Provided they have worked as SBA for not fulfilled the revised conditions and
Recruit & Activate
Lumpsum 2 FY continuously have already been granted permission
8 new Agents with
15 % of total OMA • Should give willing to continue Life by SDMs for Non Regular Scheme will
3 Policies or 10000
paid during the FY Plus in writing (Annexure F) continue till they complete their
FPI each new
agent • Quarterly norms of No. of transaction stipulated 2 years period.
to be fulfilled.
10000 Policies or • 75% of OMA will be payable. This can
10 Crore FPI be availed for maximum period of 2
& Yrs in his entire career
One time • Balance 25% will be payable in lump
Recruit & Activate
Lumpsum sum if CR comes to 5% or below within
10 new Agents
30 % of total OMA 2 Yrs.
with 3 Policies or
paid during the FY • Interest free advance will not be
10000 FPI each Exit from the Scheme
new agent converted to Interest during this
period  SBAs not maintaining Life Plus Offices
15000 Policies or • If CR has not come down within 2 Yrs will be exited from Scheme.
15 Crore FPI 75% of OMA will stop. Interest free  No transactions in Life Plus for more
& One time advance will be converted to Interest than 90 days will be taken as non-
Recruit & Activate Lumpsum bearing functional.
15 new Agents 40 % of total OMA • SDM is the Competent Authority  SBAs who are not maintaining Life
with 3 Policies or paid during the FY • SBA with CR more than 5% and less Plus Offices are given time up to
10000 FPI each than 6% condoned by ZM will not 31.03.2018 to make their office
new agent come under this category. functional, otherwise they will exit
• Not eligible for additional OMA for from SBA scheme.
high performing SBAs.  On retirement / promotion / death or
any other exit.
 At the end of the appraisal in which
the SBA becomes non Incentive Bonus
earner (Incentive earner as defined in
GOIBS 2017)
 SDM has the right to withdraw the
facility in case of disciplinary action,
utilising the premises for any other
work.

23
LIC Associate Scheme (LICA) Commencement w.e.f. 01.04.2016
Eligibility Period of Engagement Application
 Only retired SBA are eligible. Scheme shall be for Three years initially  Eligible and interested SBA to submit
 Voluntary retirement or Terminated or Can be extended by Two years. application in Annexure A
facing Vigilance/Disciplinary cases not Tenure Shall not in any case extend  Consent letter from agents to join
eligible. beyond 65 Years. team in Annexure B
 Cost Ratio 5% or less in the last 5  Annexure A & B to be sent to
appraisal years preceding retirement. Divisional office with branch in-charge
 30 agents or 75% of his remaining Review Year : recommendations.
agents of his organisation whichever is  SDM shall depute Official not below
lower are willing to join his team. Shall be Financial Year. the rank of ADM to visit the SBA
 Will be allowed to join within one year First review period will be 31st march of Office and submit report Annexure C.
of superannuation. relevant Financial Year.  Interview will be conducted
Ex: DOA : 15.06.2015  Annexure A, B & C with
First review period : 15.06.15 to 31.03.16 recommendation of SDM will be sent
Definitions Next review period : 01.04.16 to 31.03.17 to Zonal Manager.
 Zonal Manager is the Competent
Mentored Agents: In first review period NB conditions, Authority to appoint.
Existing agents willing to join the team. eligibility for benefits and allowance will  Agreement to be signed on non
be calculated on pro - rata basis. judicial stamp paper Annexure D
Premier Mentored Agents :  Appointment letter will be issued
New agents appointed by LIC Associate. Annexure E
 Annexure E to be generated in e-feap
Productivity Incentive module at Divisional Office.
Productive incentive shall be paid on

Min Transactions in a month for OMA fulfilling all the four conditions. Transaction Fees
1st 2nd 3rd 4th 1. Should sponsor at least 3 Premier  Transaction fee of Rs.6/- per policy
Qtr Qtr Qtr Qtr mentor agents during relevant review (Renewal premium/ proposal
Apr Jul Oct Jan year or should already have 15 deposit).
to to to to Premier mentor agents.  Rs.10 per policy collection of proposal
Jun Sep Dec Mar 2. At least 3 Premier mentored agents deposit, submission & registration of
brings in 12 lives and 1 Lakh FYPI each E Proposal.
Renewal 275 365 485 540 during the relevant review year.
Premium pm pm pm pm 3. Number of mentored agents at the
end of relevant review year should Allowance for High Performing Agents
No. GC not be less than total number of
under mentored agents at the beginning of On every agents qualifying as below during
unit/U relevant review year. the relevant review year.
50 70 90 100
Proposal/ 4. Has procured 4000000 First Premium
pm pm pm pm
prop dep or 300 Lives during the relevant
coll taken review year. On Qualifying for Allowance Rs.
altogether Corporate Club
Productivity Incentive total of following 25000
TOT / COT
% of FY & Bonus MDRT 10000
Reimbursement for OMA per month Comn earned by Centurion 5000
Agents Tenure agents during
Half – Centurion 3000
Cat I Cat II Cat III relevant review
Millionaire 5000
Minimum Yr.
30000 24000 18000 Half Millionaire 3000
Amount Premier Mentored
20 %
Agents
Cat I Cat II Agents in SBA
Allowance for Sponsoring New agent
Chennai Coimbatore, Kannur, Kochi, organaisation
15 %
Kozhikode, Madurai, since last 7 Yrs of
Allowance of Rs.1000 for every agents
Mallapuram, Trissur, his retirement
sponsored and completing MBG during the
Trivandrum Remaining agents 10 %
review year.

24
Pro-rata definition for Productive Incentive

Condition Date of engagement Performance in the first Review period
Has sponsored and maintains mentorship During the first Quarter of Financial Year
Has to sponsor 3 Premier Mentored agent
of at least 3 premier mentor agents during 01/04 to 30/06
the relevant review year or is exempted During the Second to Third quarter of
there from provided he has already Has to sponsor 2 Premier Mentored agent
financial year 01/07 to 31/12
sponsored and is maintaining mentorship
od 15 premier mentored agents after During the Last quarter of Financial year
Has to sponsor 1 Premier Mentored agent
becoming LICA 01/01 to 31/03
During the first Quarter of Financial Year Premier Mentored agents has to bring min
At least three Premier Mentored agents
01/04 to 30/06 of 12 lives with 1 lakh F Y P each
sponsored and mentored brings in a
During the Second to Third quarter of Premier Mentored agents has to bring min
minimum of 12 lives with Rs.1 lakh First
financial year 01/07 to 31/12 of 9 lives with 0.75 lakh F Y P each
Year Premium each, during the relevant
During the Last quarter of Financial year Premier Mentored agents has to bring min
review year.
01/01 to 31/03 of 3 lives with 0.30 lakh F Y P each
Pro-rata FPI or lives on the basis of number

of completed months (fraction of a month
is to be taken as one month) from date of
Has procured First Premium of engagement to the end of Financial Year.
Rs.40,00,000 (forty lakh) 0r 300 lives during e.g. Date of Engagement 05.07.2018
the relevant review year completed month till 31.03.2018 = 9
LICA has to procure
9/12 of 4000000 FPI or
9/12 of 300 Lives

25
GOIBS 2017
Scheme commencing from : Appraisal 01.09.2016 – 31.08.2017 to Un till next Revision
DEFNITIONS
Eligible Premium : Graded down S F Y P I
Qualifying Premium : Eligible premium – Lapse premium + Revived Premium
Productive Agent : Completed 20 lives (or)
15 lives with eligible premium 70000 (or)
12 lives with eligible premium 100000 during the agency year ending falling
in the appraisal year of the development officer.
First Year of Scheme Second Year of Scheme Third Year of Scheme

01.09.2016 to 31.08.2017 01.09.2017 to 31.08.2018 01.09.2018 to 31.08.2019
01.10.2016 to 30.09.2017 01.10.2017 to 30.09.2018 01.10.2018 to 30.09.2019
01.11.2016 to 31.10.2017 01.11.2017 to 31.10.2018 01.11.2018 to 31.10.2019
01.12.2016 to 30.11.2017 01.12.2017 to 30.11.2018 01.12.2018 to 30.11.2019
01.01.2017 to 31.12.2017 01.01.2018 to 31.12.2018 01.01.2019 to 31.12.2019
01.02.2017 to 31.01.2018 01.02.2018 to 31.01.2019 01.02.2019 to 31.01.2020
01.03.2017 to 29.02.2018 01.03.2018 to 29.02.2019 01.03.2019 to 29.02.2020
01.04.2017 to 31.03.2018 01.04.2018 to 31.03.2019 01.04.2019 to 31.03.2020
01.05.2017 to 30.04.2018 01.05.2018 to 30.04.2019 01.05.2019 to 30.04.2020
01.06.2017 to 31.05.2018 01.06.2018 to 31.05.2019 01.06.2019 to 31.05.2020
01.07.2017 to 30.06.2018 01.07.2018 to 30.06.2019 01.07.2019 to 30.06.2020
01.08.2017 to 31.07.2018 01.08.2018 to 31.07.2019 01.08.2019 to 31.07.2020
Graded system of Credit:
Full Credit ie. 100% will be allowed to the eligible premium earned by the BM, DM, ZM, CM, Galaxy Club and Corporate Club
Member agents in the relevant appraisal.
Graded System of Credit applicable to agents other than BM, DM, ZM, CM, Galaxy Club and Corporate Club Member agents in the
relevant appraisal will be as below.
Service of Agents at Commencement Credit to be

of Appraisal Allowed
7 Years or Less 100 %
8 years to 10 Years 80 %
11 Years & Above 70 %
 For development Officers completed 30Yrs of service or 55 Years of age at commencement of appraisal year, then 25% of
graded down premium allowed for 11 years and above will be added as Ex-gratia provided the Development Officer shows
growth of 10% in eligible premium.
Eligibility : Development officer with Cost Ratio 16% or less (16.04% = 16% & 16.05% = 16.1%)
Formula for calculating Cost Ratio :
Annual Remuneration
Cost Ratio = --------------------------- * 100
SFYPI
Formula for calculating Basic Incentive Bonus
(Qualifying premium – 6 times of Annual Remuneration) * 12.55 %
(Qualifying premium – 7.5 times of Annual Remuneration) * 0.60 %
Steps from 1 to 6 is to be done till Annual Remuneration * No of times specified exceeds Qualified premium.
Then the total should be added to arrive BIB ( Basic Incentive Bonus ).

26
Modification in the Quantum of Basic Incentive Bonus (BIB)
B Factors to be considered for Additional IB based on Basic Incentive Bonus
1. Additional incentive for performing Development Officer

2. Growth in Eligible Premium
3. Rural Credit
C Factors to be considered for Additional IB on the Basis of Quantum
1. Number of Lives assured

2. Number of productive agents
3. Recruitment of Agents
4. Incentive for managing large Agency Organisation
5. High End Agents (MDRT / COT / TOT / Corporate Club Members)
6. Persistency for newly recruited Development Officers
7. High End Customers
D Minimum Alternate Incentive
B-1. Additional Incentive for performing Development Officers:

 Development Officer should have completed 11yrs of service and above at the beginning of appraisal ( Period of
probation will also be taken into count )
 Should have 50 or more agents at the end of Appraisal
 Cost Ratio on Qualifying premium up to 10%
Cost Ratio on Additional Incentive

Qualifying Premium
Up to 2 % 4 % of BIB
More than 2% to 4% 3 % of BIB
More than 7% to 8% 0.5% of BIB
More than 8% to 10% 0.25% of BIB
B-2. Growth in Eligible Premium:
( Previous year SFYPI – Current year SFYPI )

Growth Percentage = -------------------------------------------------------- * 100
Previous year SFYPI
Reduction in BIB : There is no Disincentive
Addition in BIB
Eligible for addition incentive bonus if :
Cost Ratio Additional Incentive Bonus

Minimum Growth Quantum
Up to 8% 10% 2 % of BIB for each block
of 5 % growth or portion
Above 8% 12% thereof
5.49% = 5% & 5.50% = 6%
( 0.4% for every 1% growth above 10% or 12% )
Maximum of 25% of BIB or 10 Lacs whichever is lower.

27
B-3. Rural Credit
Development Officer whose agency organisation has 50% or 30 rural agents and/or agents working in hill station whichever is
lower at the beginning of the relevant appraisal year.
 An additional incentive of 10% of BIB is allowed

 Subject to maximum of 150000/-
C–1 Number of Lives:
There will be decrease in BIB if No. of Lives falls below 600 for every block of 50 lives as per table given
Debit for every block of 50 lives below 600

No. of Lives Disincentive
501 to 550 Rs.1500
451 to 500 Rs.3000
401 to 450 Rs.4500
351 to 400 Rs.6000
301 to 350 Rs.8000
251 to 300 Rs.10000
201 to 250 Rs.12000
151 to 200 Rs.14000
101 to 150 Rs.16000
51 to 100 Rs.18000
There will be no debit for PDOs
There will be Addition in BIB if

Development officer has 600 Lives & 15 Productive Agents
For every block of 50 lives as per table given
Credit for every block of 50 Lives in excess of 650 Lives

No. of Lives Additional Incentive
650 to 1000 Rs.500 for every block of 50 Lives
More than 3000 Rs.1500 for every block of 50 Lives
Lives Incentive Lives Incentive Lives Incentive Lives Incentive

700 to 749 500 1450 to 1499 10250 2200 to 2249 25000 2950 to 2999 40000
750 to 799 1000 1500 to 1549 11000 2250 to 2299 26000 3000 to 3049 41000
800 to 849 1500 1550 to 1599 12000 2300 to 2349 27000 3050 to 3099 42500
850 to 899 2000 1600 to 1649 13000 2350 to 2399 28000 3100 to 3149 44000
900 to 949 2500 1650 to 1699 14000 2400 to 2449 29000 3150 to 3199 45500
950 to 999 3000 1700 to 1749 15000 2450 to 2499 30000 3200 to 3249 47000
1000 to 1049 3500 1750 to 1799 16000 2500 to 2549 31000 3250 to 3299 48500
1050 to 1099 4250 1800 to 1849 17000 2550 to 2599 32000 3300 to 3349 50000
1100 to 1149 5000 1850 to 1899 18000 2600 to 2649 33000 3350 to 3399 51500
1150 to 1199 5750 1900 to 1949 19000 2650 to 2699 34000 3400 to 3449 53000
1200 to 1249 6500 1950 to 1999 20000 2700 to 2749 35000 3450 to 3499 54500
1250 to 1299 7250 2000 to 2049 21000 2750 to 2799 36000 3500 to 3549 56000
1300 to 1349 8000 2050 to 2099 22000 2800 to 2849 37000 3550 to 3599 57500
1350 to 1399 8750 2100 to 2149 23000 2850 to 2899 38000 3600 to 3649 59000
1400 to 1449 9500 2150 to 2199 24000 2900 to 2949 39000 3650 to 3699 60500
Maximum: No upper Ceiling.

28
C -2 Number of productive Agents:
Increase in BIB
 If the number of productive agent is above 20 then there will increase by Rs.2000 for every productive agent above 20
 Maximum no upper Ceiling
 New agents appointed during the Appraisal period and become productive they are “Deemed Productive” Agents.
 Additional incentive of Rs.2000/- per Deemed productive agent shall be allowed.
 An agent who is deemed productive in relevant appraisal year shall not be reckoned as productive agent in the next
appraisal year.
When Appraisal is extended, the appraisal may have agents with two agency year endings in such case later agency year shall be
considered.
There will be Decrease in Incentive Bonus as per chart below
No of Productive Agents Decrease in BIB

8 to 15 250 per agent
7 or less 500 per agent
If No. of Lives is 600 and above and productive agent is 15 - NO DISINCENTIVE.
No of Decrease No of Decrease No of Decrease No of Decrease

Productive In IB Productive In IB Productive In IB Productive in BIB
Agents Agents Agents Agents
14 250 10 1250 6 2750 2 4750
13 500 9 1500 5 3250 1 5250
12 750 8 1750 4 3750 0 5750
11 1000 7 2250 3 4250
C – 3 . Recruitment of Agents
Increase in BIB :
Service at the end of relevant Increase for Recruitment and Completion

appraisal of MBG per agent
Up to 5 Years Rs.1500/-
More than 5 Years Rs.1000/-
 No maximum upper ceiling
Allotted agents and reinstated agents will not be counted for Net addition or Recruitment of agents.
C – 4 Incentive for managing large Agency Organisation

Development Officer will be given additional incentive as given below to manage his agency organization.
No of Agents at % of Productive Amount per

End of Appraisal year Agent Agent
100 & Above 75 % 400/-

100 & Above 60 % 300/-
100 & Above 50 % 200/-
100 & Above 40 % 150/-
75 to 99 50 % 100/-
50 to 74 50 % 75/-

29
C – 5 Qualifying an Agent as an MDRT/COT/TOT/Corporate club members/Shatak Veer:
Amount per
Eligible on Commission basis
Such Agents
MDRT 6000/-
Galaxy Club 8000/-
Corporate Club 10000/-
COT Court of Table 15000/-
TOT Top of the Table 20000/-
 In addition to the above if an agent completes 100 lives during the appraisal year ( Shatakveer ) Incentive of Rs.5000/-
per such agent shall be allowed.
 If an agent acquires MDRT/COT/TOT and Member of Corporate Club in the same year the highest amount shall be paid.
 Maximum : No upper Ceiling.
 If an agent qualifies for MDRT in a particular appraisal year and becomes Corporate club member in the next appraisal
year only the difference of 4000/- shall be paid. ( corporate club in current appraisal Rs.10000 – Rs.6000 already paid for
MDRT in previous appraisal)
 If an agent becomes COT/TOT in an appraisal year and subsequently becomes Corporate club in next appraisal year no
additional amount shall be paid. ( Since he has received highest amount in previous appraisal ).
C – 6 Persistency Reward for newly recruited Development Officer
 For development officers less than 10 years of service at the end of relevant appraisal
 Having Cost Ratio not more than 16%
 SP & NSP Policies
Persistency Month /
Ratio on NOP Reward
Ratio
13th 90 % 30000/-
25th 85% 30000/-
61st 85% 40000/-
C – 7 High End Customer
 A Development officer procuring a single policy of 1 Crore FPI in Urban area

 A Development officer procuring a single policy of 25 Lakhs FPI in Rural area on different lives
 Addition incentive of Rs.5000 per life
 No upper limit
C – 8 Minimum Alternate Incentive
DOs with service more than 10yrs

DOs with service less than 10ys
at end of relevant appraisal
at end of relevant appraisal
 Minimum Alternate Incentive @ 1.5% of  Minimum Alternate Incentive @ 1% of Qualified
Qualified Premium Premium
 Maximum of 1.5 Lacs or Net IB payable as  Maximum of 1Lac or Net IB payable as per clause A, B &
per clause A, B & C whichever is higher C whichever is higher
 Provided they Recruit and complete MBG of  Provided they Recruit and complete MBG of 4 agents in
4 agents in the relevant appraisal the relevant appraisal

30
Comparison of GOIBS 2015 and GOIBS 2017

GOIBS 2015 GOIBS 2017
Graded System of Applicable for all agents as per their service 100 % Credit for all club member agents Irrespective
Credit of their service.
Calculation in Basic
IB No Change
Additional Incentive
for Performing DO No Change
0.5 % of BIB for each block of 5% growth and 2 % of BIB for each block of 5% growth and portion
Growth in Eligible portion thereof thereof
Premium
No Upper ceiling
Maximum 25% of BIB or 10 Lacs whichever is lower
Rural Credit
No Change
Increase & Decrease
for Lives No Change
Productive Agent
No Change
Decrease for
Should have 40, 45 or 50 agents. Decrease of
Recruitment of
Rs.1000.00 for shortage per agent Withdrawn
Agents
Rs.500.00 per agent recruited and completed MBG Development officers with more than 5yrs service at
in relevant Appraisal end of appraisal Rs.1000.00 and for service up to
Increase for
5yrs Rs.1500.00
Recruitment
For batch 2012 – 2013 Rs.750.00 for initial 5Yrs or
validity of scheme whichever is earlier. Per agent recruited and completed MBG
No. of Agents at the

beginning of Disincentive
Appraisal
Rs.500 per agent over 3
terminations due to
Termination of MBG First agency Year
Withdrawn
Agency Less than 50 Agents 0r Second agency year
ending in the Appraisal
year commencing on or
after 01.09.2016
Same rate as above over
50 and More agents
5 terminations
No of Agents at Persistency Amount

Beginning payable
per Agent
Reward for 100 & Above 90 % 200/- Withdrawn
Persistency of agents
75 to 99 90 % 150/-
50 to 74 95 % 100/-
45 to 49 95 % 75/-
Managing Large
Agency No Change
Organaisation

31
Eligible on Amount per Eligible on Amount per

Commission basis Such Agents Commission basis Such Agents
MDRT 3000/- MDRT 6000/-
Corporate Club 5000/- Galaxy Club 8000/-
Corporate Club 10000/-

High End Agents COT Court of Table 7500/-
COT Court of
15000/-
TOT Top of the Table
10000/-
Table
TOT Top of the
20000/-
Shatakveer 1500/- Table
Shatakveer 5000/-
Persistency Persistency Ratio

Month / Cat I Cat II Cat III Month / On Reward
Ratio Ratio NOP
Reward for
13th 90 % 80 % 70%
Persistency ratio for 13th 90 % 30000
25th 85% 75% 65%
Newly recruited Dos 37th 80% 70% 60% 25th 80% 30000
Award on 2 % of 1.5 % of 1 % of 61st 85% 40000
Qualifying Qualifying Qualifying Qualifying
premium Premium Premium Premium
High End Customer Rs.2000/- per Life Rs.5000/- per Life
Avg. 100 &

40 to 49 50 to 99
Productivity Above
Agents Agents
Per Agent agents
Policies 25
Rs.10000 Rs.15000 Rs.20000
to 29.99
Reward for Average
Policies 30 Withdrawn
Productivity Rs.14000 Rs.20000 Rs.26000
to 39.99
Policies 40
Rs.20000 Rs.28000 Rs.36000
to 49.99
50 policies
Rs.30000 Rs.40000 Rs.50000
& above
DOs with service less DOs with service

than 10Yrs at end of more than 10Yrs at
relevant appraisal end of relevant
appraisal
Minimum Alternate Minimum Alternate

Incentive @ 1.5% of Incentive @ 1% of
Minimum Alternate Qualified Premium Qualified Premium
Not Applicable
Incentive Maximum of 1.5 Lacs Maximum of 1Lacs
or Net IB payable as or Net IB payable as
per clause A, B & C per clause A, B & C
whichever is higher whichever is higher
Provided they Provided they
Recruit and complete Recruit and complete
MBG of 4 agents in MBG of 4 agents in
the relevant appraisal the relevant appraisal

32
EQUITABLE RELIEF
30% of the equitable relief 30% of the equitable relief 30% of the equitable relief paid
paid to him for the period paid to him for the period to him for the period
01.08.2012 to 31.03.2013 01.04.2013 to 31.03.2014 01.04.2014 to 31.03.2015
Appraisal Period Appraisal Period Appraisal Period
01.02.2016 to 31.01.2017 01.02.2017 to 31.01.2018 01.02.2018 to 31.01.2019
01.03.2016 to 28.02.1017 01.03.2017 to 28.02.2018 01.03.2018 to 28.02.1019
01.04.2016 to 31.03.2017 01.04.2017 to 31.03.2018 01.04.2018 to 31.03.2019
01.05,2016 to 31.04.2017 01.05,2017 to 31.04.2018 01.05,2018 to 31.04.2019
01.06.2016 to 30.05.2017 01.06.2017 to 30.05.2018 01.06.2018 to 30.05.2019
01.07.2016 to 31.06.2017 01.07.2017 to 31.06.2018 01.07.2018 to 31.06.2019
01.08.2016 to 31.07.2017 01.08.2017 to 31.07.2018 01.08.2018 to 31.07.2019
01.09.2016 to 31.08.2017 01.09.2017 to 31.08.2018 01.09.2018 to 31.08.2019
01.10.2016 to 30.09.2017 01.10.2017 to 30.09.2018 01.10.2018 to 30.09.2019
01.11.2016 to 31.10.2017 01.11.2017 to 31.10.2018 01.11.2018 to 31.10.2019
01.12.2016 to 30.11.2017 01.12.2017 to 30.11.2018 01.12.2018 to 30.11.2019
01.01.2017 to 31.12.2017 01.01.2018 to 31.12.2018 01.01.2019 to 31.12.2019
Equitable Relief for Retiring Development Officers
Example 1 Example 2
Equitable relief paid for the Date of Retirement : 30.06.2018 Date of Retirement : 30.06.2017
respective financial year will
form a part of annual Appraisal Year : February to January Appraisal Year : February to January
remuneration only in full
appraisal years. Two full appraisal after appraisal ending 01/2016 One full appraisal after appraisal ending 01/2016
02/2016 to 01/2017 & 02/2017 to 01/2018 02/2016 to 01/2017
Development officers not Equitable Full Appraisal Equitable Full Appraisal

having full appraisal year the Remarks Remarks
relief period period relief period period
amount shall be paid and
will not form a part of 01.08.2012 01.02.2016 01.08.2012 01.02.2016
annual remuneration. to to To be taken to to To be taken
31.03.2013 31.01.2017 31.03.2013 31.01.2017
01.04.2013 01.02.2017 01.04.2013
Need not be
to to To be taken to NIL
taken
31.03.2014 31.01.2018 31.03.2014
01.04.2014 01.04.2014
Need not be Need not be
to NIL to NIL
taken taken
31.03.2015 31.03.2015

33
DEVELOPMENT OFFICERS DISINCENTIVE
Transitional concession for Dos confirmed Expense limit for Dos confirmed
prior to 12.11.2009 on or after 12.11.2009
Area of Operation A B C D E Operating area 1st 2nd 3rd

Cat
population Appr Appr Appr
Expense limit Scheme
22% 23% 24% 25%
1989 > 10 Lac A 22% 21% 19%
1st Appraisal Year
01.12.2009 to 30.11.2010 21% 22% 23% 24% 25%
6 to 10 Lacs B 23% 22% 20%
01.11.2010 to 31.10.2011
1st Appraisal Year < 6 Lacs C 24% 23% 21%
01.12.2010 to 30.11.2011 20% 21% 22% 23% 24%
01.11.2011 to 31.10.2012 Rural, Remote, Hilly D 25% 24% 22%
1st Appraisal Year

01.12.2009 to 30.11.2010 19% 20% 21% 22% 22%
01.11.2010 to 31.10.2011
DIINCENTIVE AS PER SCHEME 2009
Disincentives where the cost ratio is in excess of FITMENT CHART

Where cost ratio is in BASIC PAY
prescribed limit in the appraisal year next
excess of prescribed limit
preceding the relevant appraisal date Stages w.e.f 8/02 w.e.f 8/07 w.e.f 8/12
On the third 1 7440 11535 21865
On the 2 7890 12235 23205
and
On the First second 3 8340 12935 24545
subsequent
Occasion successive
successive 4 8860 13760 26125
occasion
occasion 5 9380 14585 27705
By not more than 2% 6 9920 15425 29315
(Provided that the cost 7 10460 16265 30925
ratio in the appraisal NIL NIL NIL 8 11000 17105 32535
year is not more than
9 11540 17945 34145
32%)
10 12080 18785 35755
By more than 2% but not
11 12620 19625 37365
more than 4% (Provided
No No No 12 13160 20465 38975
that the cost ratio in the
Increment Increment Increment 13 13700 21305 40585
appraisal year is not
more than 32%) 14 14240 22145 42195
By more than 4% 15 14780 22985 43805
(Provided that the cost No Increment 16 15320 23825 45415
No No
ratio in the appraisal & One 17 15860 24665 47025
Increment Increment
year is not more than Decrement 18 16400 25505 48635
32%) 19 16940 26345 50245
20 17480 27185 51855
Where the cost ratio in No
No Increment 21 18020 28025 53465
the Appraisal year is No Increment
& Two 22 18560 28865 55075
more than 32% but not Increment & One
Decrements 23 19100 * 29705 * 56685 *
more than 35% Decrement
24 19640 * 30545 * 58295 *
No No 25 20180 * 31385 * 59905 *
Where the cost ratio in No Increment
Increment Increment 26 32225 * 61515 *
the Appraisal year is & Two
& One & Two
more than than 35% Decrements
Decrement Decrements

34
DISINCENTIVE AS PER SCHEME 2016

W.e.f. 01.08.2015 Appraisal ending 31.07.2015 and thereafter.
Disincentives where the cost ratio is in excess of prescribed limit in the appraisal
year next preceding the relevant appraisal date
Where cost ratio is in
excess of prescribed limit On the fifth
On the On the fourth
On the third and
On the First second subsequent
and successive subsequent
Occasion successive successive
occasion successive
occasion occasion
occasion
By not more than 2%
(Provided that the cost
ratio in the appraisal NIL NIL NIL NIL NIL
year is not more than
32%)
By more than 2% but not
more than 4% (Provided 60 % cut in 80 % cut in
30% cut in 50% cut in 60 % cut in
that the cost ratio in the FCA & No FCA & No
FCA FCA FCA
appraisal year is not Increment Increment
more than 32%)
By more than 4%
(Provided that the cost 60 % cut in 80 % cut in 80 % cut in
50% cut in 60% cut in
ratio in the appraisal FCA & No FCA & No FCA & One
FCA FCA
year is not more than Increment Increment Decrement
32%)
Where the cost ratio in

60 % cut in 80 % cut in 80 % cut in No FCA &
the Appraisal year is 60% cut in
FCA & No FCA & No FCA & One One
more than 32% but not FCA
Increment Increment Decrement Decrement
more than 35%
Where the cost ratio in 60 % cut in 80 % cut in 80 % cut in No FCA & No FCA &
the Appraisal year is FCA & No FCA & No FCA & One One Two
more than 35% Increment Increment Decrement Decrement Decrement
Changes made in Amendment:

Age 55 completed at commencement of relevant appraisal Expense limit shall be increased by 4%
Completed 10 Yrs service at commencement of relevant

Appraisal and completed 50 Yrs of age but not completed 55 Yrs. Expense limit shall be increased by 2%

35
Premium Point
Eligibility Cash Limit Demotion of Club
Should be a Corporate / Galaxy / CM Corporate, Galaxy and  Extension period of 2 years to run
3 lakhs
/ ZM Club Member CM Club Members premium point after loss of club
DM club member for 5 continuous ZM Club Member 2 Lakhs membership.
Years. DM Club Member 1 Lakh  Cash collection will be limited to
Should have Office with computer, Retired Employee 1 Lakh average of last two years Renewal
printer and Internet connection Commission or One Lakh whichever
is less
Retired Employees: Remittance of Cash Collection  If the agent gets back his club
Should have retired in class I/II/III membership he will be given the limit
cadre As per IRDAI instructions premium point of club he becomes eligible.
Below 65 years of age. collection remittance period has been
Should have Desktop/Laptop, Printer changed from 48 Hrs to 24 hrs w.e.f. Divisional Office to obtain request cum
and Internet connection 01.04.2018. consent letter from the agent who has lost
May or may not be a pension optee the eligibility of club membership, for the
May or may not have LIC agency permission to continuation of premium
He can continue premium point till point.
he attains age of 75 Years. Divisional Manager to permit the
empowerment and to be sent to CO with
Divisional Managers recommendation for
re-activisation of premium point.

36
SCHEME VI : Commencement 01.10.2006
Condition of eligibility Replacement of Battery Ex – factory limit
1. Vehicle more than 5 yrs shall not be After 18 months from date of purchase ABMS to Manager Sales in the
admitted and 18 months thereafter. cadre of ADM & ADM in
2. Full purchase price excluding Condonation of shortfall up to 3 months MKTG side
accessories
based on individual case merit.
Registration, Octori, Insurance Premium,
Subject to production of Bills & Receipts. w.e.f. w.e.f.
Road tax will be borne by Corporation.
Premature after 1yr from purchase of 500000 04.07.16 21.03.17
vehicle prior sanction from competent 560000 660000
authority.
SDM /DM IC other similar
Premature in no case before the expiry of placed officers up to cadre of
Reimbursement For Cleaning
guarantee period. SDM
Not exceeding Rs.650 every month.
w.e.f. w.e.f.
630000 04.07.16 21.03.17
Repair of Vehicle 720000 848000
Repairs, Replacement including periodical servicing.

ZM and above
Prior sanction.
In case of emergency post facto sanction. w.e.f. w.e.f.
Full details of repair, estimation, cost, quotation from garage to be furnished. 820000 04.07.16 21.03.17
Full cost not exceeding the ceiling. 940000 1108000
Category W.E.F 01.11.2016

Year
I II III I II III Replacement of Tyre / Tube
I 8000 9000 10000 12000 14000 16000
II 9000 10000 11000 13000 15000 17000
Will be borne by corporation in full after
III 10000 11000 12000 14000 16000 18000
IV 11000 12000 13000 15000 17000 19000 the vehicle has run the following KMs.
V 12000 13000 14000 16000 18000 20000 Subject to submission of Bills / Receipts.
Total 50000 55000 60000 70000 80000 90000
Type of Replacement
Above excludes mandatory Taxes. Tyre Normal Premature
Includes cost incurred for re-boring of engine. Ordinary 32000 24000
Includes cost of Oil. Nylon 37000 28000
Radial 45000 34000
Tubeless 45000 34000
Actual cost of Multi-point Fuel Injection (MPFI) only once in 5Yrs.
Replacement of Milometer in full.
Maruti 800 and same wheel base
Cost beyond the ceiling may be allowed by competent authority to the extent of
replacement at 80% of above Km limits.
shortfall to the ceiling in the immediately preceding years. / Additional amt within the
Retreaded will be done at corporation
ceiling of next year and deducted there from.
cost.
No advance shall be sanctioned. If the estimated cost exceeds 10000 and garage
Further replacement after running 16000
requires advance, on request competent authority may sanction 50% of estimated cost
KM only.( Condonation of shortfall of 500
or advance required by the garage whichever is less.
KM)
Repair to be carried out within 1 month from sanction of advance.

37
Shifting or Transfer of Vehicle Running Expense

Mileage rate:
1. Service charges of agent for NOC
from RTO, Re-Registration and Petrol Vehicle
other charges on transfer shall be KM/Ltr KM/Ltr
borne by Corporation. Engine CC Town Tour
2. Non transportation of vehicle on running running
exceptional cases may be relaxed. Up to 800 cc 13 15
3. Maximum period of relaxation 2 > 800 - 1000 11 13
months from date of taking over > 1000 - 1300 10 12
charge.
1301 & > 09 11
4. Not eligible for any benefits except
Diesel Vehicle
Insurance & Road tax during the
All vehicles 13 15
relaxation period.
5. Beyond 2 months may be condoned
by ZM. Running expense admissible up to limit 0f 3000 /
6. Beyond stipulation period not 2000 KMs. Per quarter.
eligible for Insurance & Road Tax. Competent authority shall allow running expense
If already paid proportionate beyond the limit but in any case shall not exceed
recovery to be made. 4000 KMs per Quarter.
Normal Additional Competent

Service Charges for Registration Group
Limit Limit Authority
1 3000 1000 Sr/DM IC
Category Amount
I 5000 Sr/DM IC
II 6500 ZM IC or
III 8500 2 2000 2000 Officer
Invoice should reflect registration and authorised
by him
service charges separately. In case of re-
MD or
registration due to transfer or exit from Officer
scheme actual amount subject to max of 3 2000 2000
authorised
50% as stated above. by him
Officers covered under various groups
Running Expense Group Officers

Price of petrol for mileage settlement is All Mktg in BO, B&AC,
Ordinary petrol. Alternate Channels, P&GS,
1
Cost of Oil shall be reimbursed at Manager sales, MM & SDM
prevailing rate 5ltr per 1600 KMs. IC
Statement to be submitted before 7th of All Mktg in ATC, DTC, STC,
2 ZTC,DM in Mktg side, SDM
every month.
and above posted in Zone
All officials SDM rank posted
3
in CO.

38
Conversion from Other Scheme to Scheme VI Revised

Promotion from DO to ABM(S) & Transfer from Admin to ABM(S)
Calculation for conversion to Scheme On exit of the vehicle
The Officers on transfer / promotion to VI from other schemes.
ABMS will have two options: After expiry of Min period of usage the
1) To repay the outstanding loan under Original purchase price : The Original officer can continue with same vehicle by
other scheme and purchase a new purchase price of the vehicle under obtaining extension to continue for a max
vehicle under scheme VI (R) or other scheme. period of 8 years from the purchase of the
2) To transfer their exiting vehicle to
Opening value of vehicle on entry date : car.
conveyance scheme VI(R)
a) Existing vehicle which are less The outstanding amount of advance in Let’s take the same illustration
than 5 years old only can be the other scheme. Date of exit from scheme 15.04.2016
transferred from other scheme Monthly depreciation : Original
to scheme VI(R) purchase price of the car / 60 months Opening value 418750
b) As per CO cir Min period of future usage of car : Witten down value
CO/MKTG/FP/SCHII/CORRS Outstanding loan amount (ie) value of 05.10.2012 to 04.10.2013 83750
dated 13.05.2016 high price cars
vehicle as on entry under scheme VI / @ 20% of 418750
cannot be admitted in to the
scheme. The outstanding balance Mly depreciation cost. Written down value as on
335000
has to be repaid and purchase a Min period of future usage to be 05.10.2013
new vehicle as per their rounded off to next month. Witten down value
eligibility under scheme VI(R). Illustration : 05.10.2013 to 04.10.2014 67000
(only the original purchase price Purchase of vehicle under other scheme @ 20% of 335000
is to be taken). Purchase price : 600000 Written down value as on
Date of purchase : 21.04.2010 268000
Depreciation 05.10.2014
Joined as ABMS on 05.10.2012 Witten down value
After admission of the vehicle 05.10.2014 to 04.10.2015 53600
The vehicle will be admitted as: @ 20% of 268000
depreciation will be provided at 20% of
Purchase Price 600000 Written down value as on
Original purchase price on the opening 214400
Repayment of loan 05.10.2015
value on entry date by straight line
amount Witten down value NIL
method.
(recovery 29 inst from 181250 05.10.2015 to 05.04.2016 Fraction of
05/2010 to 09/2012 @ @ 20% of 214400 year to be
Example for Depreciation:
6250) ignored
Let’s take the same value given in
O/S loan amount 418750
illustration for conversion
Opening value of vehicle Written down value as on 05.10.2015
418750
as on entry date Rs.214400.00 is to be added to the income of
Original purchase
600000 Mly depreciation the Officer.
price 10000
( 600000 / 60 ) Replacement of Tyres
Depreciation @ 20% 120000
Min period if future 41.87
Opening value as on
418750 usage of car (ie) If it is the first replacement since the car has
entry
( 418750 / 10000 ) 42 been purchased and replaced after admitted
Depreciation as on
Yly depreciation to be into scheme VI the proportion of the actual
31.03.2013 for 6 60000 120000
provided after admitting cost as shown in table shall only be
months p.a.
( 600000 * 20% ) reimbursed.
Value as on
358750
01.04.2013
Depreciation on Mileage (KM) run after Proportion
120000 Replacement of Battery entry into Scheme VI. of the
31.03.2014
Ord Nylon Radial / actual
Value as on
238750 If it is the first replacement since the car Tyre Tyres Tubeless Cost
01.04.2014
has been purchased and replaced after 0 to 0 to 0 to
admitted into scheme VI the proportion 25 %
8000 9250 11250
of the actual cost as shown in table shall 8001 9251 11251 to
only be reimbursed. to to 22500 50 %
Period between Date Proportion 16000 18500
of entry into scheme of actual cost 16001 18501 22501 to
and Replacement to to 33750 75 %
0 to 6 months 50 % 24000 27750
7 – 12 months 75 % Above Above Above
Above 12 months Full Full
24000 27751 33751

39
F S E
Minimum Business Requirement Non completion of MBG
Period Lives Required EFPI If FSE does not complete FPI for
consecutive 2 Qtrs but already
1st Qtr 20 100000 completed FPI norms for the full
2 60 250000 year, he should bring the following
business
1st Year 3 60 250000
4 60 250000 Year Lives/ EFPI /
Qtr Qtr
Total 200 850000 1st 20 100000
Each Qtr 75 250000 2nd 30 150000
2nd Year 3rd 50 200000
Total 300 1000000
4th 50 250000
Each Qtr 90 300000 5th 50 300000
3rd Year 6th 50 350000
Total 360 1200000
7th 50 400000
Each Qtr 90 350000 8th 50 450000
4th Year
Total 360 1400000
Each Qtr 90 400000 If the FSE does not complete no. of
5th Year
Total 360 1600000 lives in successive Qtrs FSE may
continue to in the next Qtr subject to
Each Qtr 90 450000 provide percentage of shortfall in
6th Year
Total 360 1800000 number of lives is made good in FPI
over and above eligible FPI.
Each Qtr 90 500000
7th Year
Total 360 2000000
Each Qtr 90 550000
8th Year Eligible Premium
Total 360 2200000
10% of Single Premium
100% of Non Single Premium
Eligibility for Cash incentive, Laptop

EMI reimbursement, Two wheeler
EMI reimbursement shall be
First Year Scheduled Premium
Income.
REMUNERATION
Description 1st Year 2nd Year 3rd year 4th Year 5th Year 6th Year 7th Year 8th Year
Basic Pay 4500 5000 5500 6000 7000 7500 8000 8500
HRA 2500 3000 3200 3200 3200 3500 3800 4200
Medical 1500 1500 1800 1800 2000 2200 2400 2700
Conveyance 1000 1200 1500 2500 3000 3500 4000 4600
Mobile 500 600 700 1000 1500 2200 2900 3000
Total 10000 11300 12700 14500 16700 18900 21000 23000

40
Re imbursement of EMI Leave TE

Laptop / 2 Wheeler
CL 12 days in a Year Reimbursed for approved tours
 For 1st Loan : Min EFPI 10 One day on completion of one Actual expense or Bus or Train
Lacs in the year of month. journey in shortest route subject to
appraisal 15 days Sick leave (Half pay) in a maximum limit of second class train
 For 2nd Loan : Min EFPI 15 year. journey shall be refunded.
lacs in the year of appraisal EOL without fixed remuneration.
 Should have completed one Maximum EOL 30 days. DA at the Rate of
year with one yearly EOL exceeds 30 days contract liable A Class – 325
appraisal. to be terminated. B Class – 225
 Should be availed from C Class – 175
Bank or any recognised
institution. Incidentals as applicable for Agents.
 Reimbursement after
collecting receipt of EMI
remitted.
 EMI for Laptop 700 or
actual whichever is lower
 EMI for 2 Wheeler 870 or
actual whichever is lower.
Gratuity Gratuity Gratuity Calculation
 Eligible for those exited  Separate register to be Exit basic Pay * 15 / 26 * Years
after completing 5Yrs. maintained.
 DO to intimate ZO and ZO 5 yrs 00 month 00 days = 5 Yrs
to CO for Budget. 5 yrs 06 month 00 days = 5 Yrs
 A/C Code 11366200 5 Yrs 06 month 01 days = 6 yrs
 Payment only by NEFT 5 Yrs 06 month 29 days = 6 yrs
 Payment after receipt of (to be taken only for calculation not
Discharge receipt. for eligibility)

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1

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 Appraisal for Remuneration

 Laptop advance review every financial year

 Entertainment expense limit

 Payments to be added in earnings.

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24Hrs and part thereof Full DA

If travel by higher mode III tier AC fare is applicable

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Requirements for Hereditary Commission

Where there is no nomination

Annexure F Declaration to be completed by nominee on stamp paper

Annexure I Declaration cum indemnity cum agreement bond

Annexure K Details of heirs of deceased Agent

Annexure L Letter to be completed by surety

Annexure M Deed to be signed by the heir / claimant and surety

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GRATUITY Eligibility GRATUITY Term Assurance

 He has been confirmed in his

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Group Insurance for Tied agents Group Mediclaim

Policy No. : 12030034160400000005

Group Insurance for Brigade Members w.e.f. 01.09.2018 MY 2018 - 2019

 Premium to be paid by Brigade member

Brigade Sum Assured Premium GST @ 18% Total Prem

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Advance for Office Equipment Festival Advance Computer Advance

 Maximum Advance Rs.7500 or LYRC

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4 Wheeler Advance 4 Wheeler Advance Other Conditions

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CCA Stipend Example RCA Stipend Example

Month Target Actual Target Actual

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Club Min Net Net No. of No. of Lives FY Renewal

Escalation for BM Club Life Membership of Clubs

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Galaxy Club Convention Office Allowance

100000.00 (one lakh) whichever is lower.

 When both the agent and his / her

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Brigade Membership Allowance Club Membership Allowance

M Y 2018 – 2019 F Y 2017 - 2018  Should have 5 supervised agents with

M Y 2019 – 2020 F Y 2018 - 2019 Club status Amount

Credit for Plan 842 Pradan Mantri Vaya Vandana Yojana

Category Parameters Credit

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DEVELOPMENT OFFICRES MATTERS

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