Minimum business – You need to do is 12 lives (12 policies of different people) and total minimum premium of 1 lakh in one year.
The year is defined as Agency Year,(E.g. If agent took agency in the month of July’2011, The Agency Year would be July’2011 – July’2012 )
If you are not able to achieve minimum business, then your agency will be terminated.
It can be reinstated with certain conditions.