LIC Agent Target to getting Renewal Commission
The LIC agents have to do Minimum business every year to save their LIC Agency otherwise LIC agency code will be terminated and the renewal commission of the previous policy commission will be stopped, just because the LIC agent was not able to meet the minimum target of the LIC agent.
The minimum target in a year is like below
- 6 Active Lives with Rs 50,000 premium (in agency year)
- 1 lac premium with any number of lives (in agency year)
- 12 lives with any amount of premium (in agency year)
An agent needs to complete 5 years to receive renewal commission
The agent is eligible for Renewal commission after termination if.
LIC agent has fulfilled MBG for at least 5 years since joining and 25 lives are in force as of the date one year prior to his termination (at the end of the previous agency year)
( or )
Agent fulfilled MBG for a
- minimum of 10 years since their appointment.
( or )
Agent, Who has been terminated under clause regulation 16. ( Physically or mentally incapacity for carrying function of agent) has fulfilled MBG for at least 2 years since appointment and 12 different lives in force on a date immediately prior to termination.
You can ask your query in the comment section given below.
A minimum target is just a number for agents who are working as full-time professional agents. This is really not a big task to achieve these targets. LIC does not want to terminate any agent, but every marketing company has to set some target this is good for their employees also.
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