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    Star Big Bucks - FY 2024-25

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    krishanapaluri

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Star Big Bucks - FY 2024-25

    Uploaded by

    krishanapaluri
    36 views2 pages

    Copyright

    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    36 views2 pages

    Star Big Bucks - FY 2024-25

    Uploaded by

    krishanapaluri

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    NEW STAR BIG BUCKS

    Commission & Reward Structure for Agents


    FY 2024-25 (effective from 1st April 2024).

    Monthly Payout Structure for Fresh Business through Agents (Retail – Health + PA)

    Monthly Retail Fresh Premium Slab Total


    Commission Reward Commission +
    Metro Non-Metro Reward
    (Rs. Lakh)
    12.00 & Above 11.00 & Above 15% 30% 45%
    9.00 to <12.00 8.00 to <11.00 15% 28% 43%
    7.25 to <9.00 6.25 to <8.00 15% 27% 42%
    5.00 to <7.25 4.00 to <6.25 15% 25% 40%
    3.00 to <5.00 2.50 to <4.00 15% 20% 35%
    2.50 to <3.00 2.00 to <2.50 15% 15% 30%
    2.00 to <2.5 1.50 to <2.00 15% 12% 27%
    1.25 to <2.00 1.00 to <1.50 15% 10% 25%
    0.60 to <1.25 0.50 to <1.00 15% 8% 23%
    0.25 to <0.60 0.25 to <0.50 15% 5% 20%
    <0.25 <0.25 15% - 15%

    Monthly Payout Structure for Travel Business through Agents (Retail)

    Pay-out

    Monthly GWP Insured Age upto 65 years Insured Age above 65 years
    slab
    Total Total
    Commission Reward Commission Commission Reward Commission
    + Reward + Reward
    upto 25K 15.00% 20.00% 35.00% 15.00% 20.00% 35.00%
    >25K - 50K 15.00% 25.00% 40.00% 15.00% 20.00% 35.00%
    >50K - 1Lakh 15.00% 27.50% 42.50% 15.00% 20.00% 35.00%
    >1Lakh - 2Lakh 15.00% 30.00% 45.00% 15.00% 20.00% 35.00%
    >2Lakh - 3Lakh 15.00% 32.50% 47.50% 15.00% 20.00% 35.00%
    >3Lakh - 5Lakh 15.00% 35.00% 50.00% 15.00% 20.00% 35.00%
    above 5Lakh 15.00% 40.00% 55.00% 15.00% 20.00% 35.00%

    Page 1 of 2
    Payout Structure for Renewal Business through Agents: (Retail)

    Club Membership Commission %

    All Agents (excepting AOR) 15%


    AOR Agent (giving Rs. 15,000/- Fresh
    Premium in any given Month) – 15%
    Once in 6 Months

    AOR Agent Definition:


    • Any Agent who has not placed Rs. 15,000 fresh premium in any given month in the
    past six months will be classified as AOR Agents.
    • AOR Agents shall be notified at the beginning of every month.
    • Assured 15% renewal commission for the next 6 months for AOR Agents placing fresh
    premium of Rs. 15,000. In case the above condition is not fulfilled by the AOR agent
    as per list published, Renewal payout will be restricted to 10% only.
    • Example: An AOR Agent placing fresh business of Rs. 15,000 during the month of
    April 2024 shall be eligible for 15% renewal commission on all renewal policies placed
    between April 2024 to September 2024. Similarly, an AOR Agent placing fresh
    business of Rs. 15,000 during the month of October 2024 shall be eligible for 15%
    renewal commission on all renewal policies placed between October 2024 to March
    2025.

    Pay-out Structure for Group Business:

    Commission for all group policies will be based on marketing cost assigned by Underwriting
    Department subject to a maximum of 20%.

    Terms and Conditions:

    1. Metro Locations as per Club Rules 2024-25 – Following offices within the
    Metropolitan/Corporation limits of Mumbai, Delhi, Kolkata, Chennai, Bengaluru,
    Hyderabad, Ahmedabad, Pune, Surat, Jaipur, Kanpur, Lucknow, Nagpur, Ghaziabad,
    Indore Coimbatore, Kochi, Patna and Kozhikode have been classified as Metro
    Branches.

    2. Payment of rewards/incentives are strictly subject to deduction of applicable tax at


    source.

    3. Management reserves the right to change/alter/modify the structure without prior


    notice.

    Marketing Department

    Page 2 of 2

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