Escalation Clause for LIC club member agents

Diferment of escalation clause for LIC of India's Club Member agents

In my earlier post “Conditions for Club membership for FY 2015-16 for LIC agents” I mentioned about the escalation clause and commission required to qualify for the particular club for the financial year 2015-16 for new as well as continuing club members. The escalation clause is a yearly increase in commission by 5% compared to last year, and it was effective from 2013-14 for new entrants and 2014-15 for continuing club members. But as per the new circular of LIC Mkt/A/21(R) dated 01/07/2015  dated 06/06/2016 escalation clause has been reviewed.

As per the new circular by LIC marketing department dated 06/06/2016, implementation of escalation clause has differed till the membership year 2016-2017  2017-2018 for a new entry to the club and 2017-2018 2018-2019 for continuing club member. Club member conditions will be same as it was in the year 2013-14 till the mentioned financial years.

Qualifying conditions for Club Membership for Financial year 2015-16 ( for 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 60000 35000
4 First-year commission Paid (Rs.) 200000 140000 90000 50000

Copy of the old circular is displayed below

Review of escalation clause

14 thoughts to “Diferment of escalation clause for LIC of India's Club Member agents”

  1. Additional office allowance (for less lapsation) and Granted benifits for the higher performance to Chairman Club members Club membership for FY 2015-16 and FY 2016-17 for LIC agents

  2. sir after withdrwl of agency licence renewl any xhange in mbg condition.12 lives/1Lac k.pl publise circular copy.any power to concern development officer to advice to not terminae the agency.

  3. PLEASE INFORM ME
    HOW MUCH GROUP MEDICLAIM FOR ZM CLUB &IS IT EXTENDED SPOUSE ALSO
    I SUPPOSE NOT MAKE 30 LIVES 2016-17 I LOST ZM CLUB MEMBER, IAM SINCE 9 YEARS ZM CLUB MEMBER
    THANK YOU SIR

  4. PLEASE INFORM ME
    HOW MUCH GROUP MEDICLAIM FOR ZM CLUB &IS IT EXTENDED SPOUSE ALSO
    I SUPPOSE NOT MAKE 30 LIVES 2016-17 I LOST ZM CLUB MEMBER, IAM SINCE 9 YEARS ZM CLUB MEMBER
    THANK YOU SIR

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