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Thread: LIC Agency Licence Terminated in 4th agency year - please help?

  1. #1
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    Question LIC Agency Licence Terminated in 4th agency year - please help?

    I am an LIC India agent appointed on 17.09.07. In 4th agency year My DO & Branch manager told me to do 15 no of live & 75000/- minimum 1st year premium, I had done 16 no of live with 88000/- first year premium but my agency was terminated on ground that I am failed to achieve minimum business of 12 lives with 100000/- first year premium.

    Now my DO & Branch Manager told me that they both had communication gap in between them & they had told to do was applicable for 3rd agency year and unfortunately it's my 4th agency year. Now no body co-op me to reinstate my agency. I do not have written proof of this.

    I had gave interview to Marketing Manager also but he disqualify me on above minimum business ground. My financial condition is not so good, I request you to please help me on this issue.

    Thanks

    Via email @ kishor


  2. #2
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    Check this thread attachment for minimum business required for 4th agency year - http://www.policywala.com/forum/show...-an-LIC-agent?

    New MBG:- 12 Lives + 1 lacs FYPI

  3. #3
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    Rules are rules -
    Whether there is communication gap or not it's you and your DO know?
    I would suggest talk to the LIC Branch Manager and check whether it's possible to reinstate your agency or not.

  4. #4
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    As per LIC India rules your agency can be reinstated.
    WHO CAN BE REINSTATED
    1. AGENTS TERMINATED DUE TO NON FULLFILMENT OF MBG
    2. AGENTS TERMINATED DUE TO EXPIRY OF LICENCE

    WHO CANNOT BE REINSTATED
    1. Agents terminated on grounds of a vigilance Enquiry, Disciplinary action, early claim etc.
    2. Agents who have resigned.
    3. Agents whose date of termination beyond 24months.

  5. #5
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    Who can reinstate?
    REINSTATEMENT OF AGENCY DURING FIRST FIVE YEARS OF AGENCY
    • Marketing Manager is the competent Authority for reinstating the agency of a terminated agent if the date of reinstatement of agency is within 12 months from date of termination.
    • Marketing Manager is the competent Authority for reinstating the agency within 12 months from date of termination of agency maximum on two occasions.
    • Senior Divisional Manager is the competent Authority for reinstating the agency of a terminated agent if the date of termination is beyond 12 months but within 24 months from the date of termination. Such type of reinstatement is allowed only where the termination is for the first time. Such cases are treated as Second Reinstatement Cases.


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