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Tuesday, December 15, 1998

Minimum insurance amount to be secured by LIC agents 

 
An agent, other than an absorbed agent, is required to bring in the following business in his first agency year:

-- if he is working in a city, urban agglomeration or town with a population of five lakh or above - proposals resulting in policies or not less than Rs 75,000 sum assured on at least 12 different lives, or
-- if he is working in a city, urban agglomeration or town with a population of one lakh or above, but less than five lakh - policies for not less than Rs. 60,000 sum assured on at least 12 different lives, or
-- if he is working in any other place with a population of less than one lakh - proposals resulting in policies for not less than Rs. 40,000 sum assured on at least 12 different lives.

In the second or subsequent year, the agent is required to bring in the following business for each year:

-- if he is working in a city, urban agglomeration or town with a population of 5 lakh or above proposals resulting in policies for not less than Rs 1,00,000 sum assured on at least 12different lives, or
--if he is working in a city, urban agglomeration or town with a population of one lakh or above, but less than five lakh - proposals resulting in policies for not less than Rs 75,000 sum assured on at least 12 different lives, or
--if he is working in any other place with a population of less than one lakh - proposals resulting in policies for not less than Rs. 60,000 sum assured on at least 12 different lives.

-- Insurance Today

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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