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Relaxation in club membership conditions

Conditions for Club membership for LIC agents

With the change in the financial year the conditions for Club Membership for LIC agents also changed due to the escalation clause, that is 5% increase in First Year commission paid and Renewal commission paid every year. Qualifying conditions for various clubs in the financial year 2015-16 and Membership year 2016-17 are as follows:

Also Read: Deferment of escalation clause for LIC of India’s Club Member agents

club membership in LIC
Qualifying conditions for Club Membership for Financial year 2015-16 (Continuation

S. No. Name of Club CM’s Club ZM’s Club DM’s Club BM’s Club
1 Minimum Net No. of Lives 40 30 20 15
2 a. Net No. of Lives          OR 130 100 80 50
b. Total Lives In-Force 600 400 250 150
3 Renewal Commission Paid (Rs.) 200000 140000 90000 50000
4 First-year commission Paid (Rs.) 200000 140000 60000 35000

There is a difference between the entry criteria for agents who are already club members ie for continuation due to relaxation is given to them from escalation clause for the year 2013-14. Agents who are trying to become club members in coming year will have to earn 5% extra commission compared to agents who are already club members.

Qualifying conditions for Club Membership for Financial year 2015-16 (New Entry

S. No. Name of Club CM’s Club ZM’s Club DM’s Club BM’s Club
1 Minimum Net No. of Lives 40 30 20 15
2 a. Net No. of Lives          OR 130 100 80 50
b. Total Lives In-Force 600 400 250 150
3 Renewal Commission Paid (Rs.) 210000 147000 95000 53000
4 First-year commission Paid (Rs.) 210000 147000 63000 41000

65 thoughts to “Conditions for Club membership for LIC agents”

  1. Its a very nice information. Thanks very much
    Pl keep on sending this kind of information

  2. Thank you for your information. can you give me previous year (2014-2015) details about commission?

    1. Commission for Financial year 2014-2015 (Membership year 2015-2016) required to qualify for club membership
      CM’s Club FYC-221000, RC-221000 (New Entry), FYC-210000, RC-210000 (Continuation)
      ZM’s Club FYC-154000, RC-154000 (New Entry), FYC-147000, RC-147000 (Continuation)
      DM’s Club FYC-100000, RC-66000 (New Entry), FYC-95000, RC-63000 (Continuation)
      BM’s Club FYC-56000, RC-39000 (New Entry), FYC-53000, RC-37000 (Continuation)

    2. C M Club continuation commission is 210000 &alose renewal commission is 210000 financial year

  3. Really its very good information and timely one.You are also requested to inform relaxation in commission if it is there. You are also requested to post circular related to NB & PS. every time its dosenot have the information to advisors.

  4. Commison for fy 2014-2015 (membership year 2015-2016) required to qualify club membership

  5. This is very useful information of lic .The any news of new policy and the change in lic rules please inform .

  6. Sir, i have given the IRDA exam and soon i’ll receive my license for LIC. As i was told target is 12 policies and One Lac premium. My question is what happen if in certain year it is not done, will my license be cancelled if i did not do achieve the target first or the second year, thank you.

    1. First it’s 12 lives not 12 policies, and if you fails to complete minimum business, your agency will be terminated but not your license, you can submit your application to reinstate your agency.

  7. I got IRDA Licence in 2013. I had completed 100 policies in 2 yr of agency i.e. 2013-2014 & 2014-2015. Which CLUB membership could i get?

    1. To qualify for any club you must have done the business as per criteria mentioned in qualifying year as well as 2 years out of 3 previous year before qualifying year. And I cannot suggest by only policy number to which club you can qualify. Please mention net live done by you years by year, renewal commission and first year commission (including bonus commission).

  8. I got IRDA Licence in 2013. I had completed 100 policies in 2 yr of agency i.e. 2013-2014 & 2014-2015. In 2013-2014 66 policies with 60 net lives with first year commission 2.8 lac & In 2014-2015 34 policies with 30 net lives with first year commission 1.7 lac. Which CLUB membership could i get?

    1. As per your data, you are qualified for BM club member in year 2013-14 only, and to become BM club member you must do the same amount of business for next 2 continuous years ie 2015-16 and 2016-17 then only you will get the BM club membership for membership year 2017-18. If you do more business in these years you will be BM club at least for membership year 2017-18, and can become member of higher club as per business, from next membership year.

  9. I am the CM’s club member since 8 Yrs. For the continuation, How many lives I have to give this year. And what should be first year commission. If I give 1 lakh fist year commission and 3 lakhs renewal commission. Is it sfficient for continuation. Please clarify.

    1. This year you must a) introduce minimum 40 net no. of lives b) introduce 130 net no. of lives OR 600 inforce lives as on 31/03/2016 c) Renewal commission of Rs. 200000 and d) First year commission of Rs. 200000. Yes you can continue in CM club by doing Rs. 100000 FYC and Rs. 300000 RC with fulfilling other two conditions of minimum net no. of lives and total inforce lives.

    1. Minimum age of 60 completed years as on the date of commencement of Club
      Membership year; and
      Continuous membership in the same club (either Chairman’s or Zonal Manager’s club) for
      not less than 15 membership years
      OR
      (B) Continuous membership in the same club (either Chairman’s or Zonal
      Manager’s Club) for not less than 25 membership years.

    1. Minimum age of 60 completed years as on the date of commencement of Club
      Membership year; and
      Continuous membership in the same club (either Chairman’s or Zonal Manager’s club) for
      not less than 15 membership years
      OR
      (B) Continuous membership in the same club (either Chairman’s or Zonal
      Manager’s Club) for not less than 25 membership years.

  10. Please allow me to know about the settlement option of endowment policy after maturity in lici.

  11. Thanks for your valuable informations,However I have not posted any query with you but all above posts are also very useful for all my Agent freinds.

  12. Is there any relaxation in minimum business guarantee for agents who completed 60 years of age?

  13. I got IRDA Licence in 2012. I had completed 130 policies in per year of agency i.e. 2012-2013 commission 30000& 2013-2014.commission 220000 In 2014-2015 commission 222000 policies with 2015-2016 policies 90.commission 140000 .lapasan 90 polic Which CLUB membership could i get?

    1. Please reply like
      Financial year (2015-16) Net Lives introduced in a financial year: (), Total Inforce Lives OR Net live introduced in a financial year: () or (), Renewal Commission: (), First year commission: () and First year lapsation in that particular financial year. for last 3 years including 2015-16.

  14. hi.
    I am starting in lic 07-jan-2015, this financial year (2015-16)i have net live 26 with 45000 commission. how many number or liver required for club membership entry as a new agent.

  15. one issue about club roasters multiple policies introduced under single life and that policies
    Surrendered or lapsed its deducted multiple lives in our club roasters many agents also agree my problems,
    any one have how to handle this issue pls help me.
    kindly replay my email id, [email protected] 9840047520

  16. Hi, I heard that recently LIC target for number of policies reduced from 12 to 6 policies, Please confirm

  17. Hi,
    i am ritesh. sir DM club member ship ke liye 250 lives chahiye. main yah janana chahta hun ki Mr. A ka bima kisi Agent ne 01/2005 me kiya hai. fir Usi Mr. A ka bima 03/2006 me dubara hota hai to kya ise 1 lives gina jayega ya fir 2.
    please reply now.

  18. what is the rules and regulatios of the minimum business gaurentee relaxation for who s comleted 15 years agency service?

    1. As per the agent regulation 1972, an agent is exempted from MBG if he has continually worked for the corporation as an agent for the period of
      1) Not less than 21 years, or
      2) at least 15 years and he is at least 55 years of age, or
      3) 15 years at any time, and earning minimum Rs. 40000 per annum as renewal commission
      Please confirm this with sales department of your branch.

  19. I AM GANAPATHI RAO NALI, CHIEF LIFE INSURANCE ADVISER FROM LIFE INSURANCE CORPORATION OF INDIA. PLEASE CONTACT FOR LIC POLICIES LIKE PENSION SCHEMES, FINANCIAL SOLUTIONS OR TO JOIN AS AN LIC AGENT, CONTACT 09490132317

  20. cm club old 5 year 2013-14 life630 k-401000 and 2014-15 life638 k-403000 year 2015-16 life589 k284000 year2016-17 cm club bapas lene ke lia tatget kya hoga.

  21. cm club old 5 year 2013-14 life630 k-401000 and 2014-15 life638 k-403000 year 2015-16 life589 k284000 year2016-17 cm club bapas lene ke lia target kya hoga.

  22. I AM PUNEET LIC 9081161
    2014-15 FC100000-RC40000
    2015-16 FC90000-RC50000 NOW I AM QUALIFI FOR BM

    1. First, to become club member, you must fulfill criteria of any club in qualifying year and 2 years out of 3 presiding years of qualifying year.
      Second, club membership criteria also depends upon net lives in financial year and total infoce lives and first year lapse ratio.
      So, based on data you have provided, its is impossible to tell which club you will qualify.

  23. I am complete the net lives 2013-2014,2014-2015,2015-2016,116,31,57and f.y comm.193209,162267,159981and ren.comm.89260,111443,155495 lapse ratio 3.17,1.91,6 and I am d.m’s club.what I am qualified z.M’s club

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