Chase Your Desire Human Can Do Anything: Club Rules - 2016-17 F.Y

Club Rules – 2016-17 F.Y.
Chase Your Desire

Human Can Do Anything
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P.S. Ravindiran, LICA, Chennai ; 944440791

Club Crowns An Agent
• Agents are the backbone of LIC of India.
• The agents have therefore to be nurtured and cultivated to
grow up in the profession
• In acquiring sufficient knowledge, skills and competence to
discharge their duties effectively towards policyholders and
clients
• The purpose of introduction of Clubs at 9 levels are
• To inculcate professionalism amongst agents
• To motivate them for higher production level
• To do consistent business (PSR 3 MDRTs)

Club Crowns An Agent
• To encourage to render service to policyholders
• To accord higher status in L.I.C. and in society
• 9 Clubs Are: Distinguished Agent, Branch Manager’s,
Divisional Manager’s, Zonal Manager’s, Chairman’s , MDRT,
Galaxy Club & Corporate Clubs
• Clubs brought into existence on 1.4.1971.
• This may be hailed as the landmark in raising the status of the
profession of insurance salesman in this country.

CLUB MEMBERSHIP
Calendar Year: 1st Jan to 31st Dec
Financial Year: 1st Apr to 31st Mar
Club Year : 1st Sep to 31st Aug
MDRT Year: 1st Jan to 31st Dec
Corporate Club Year: 1st Apr to 31st Mar
Agency Year: Will vary from agent to agent Ex: D.O.A.
14.2.2013, then 1st Mar to 28th Feb is the Agency Year.
For 1st year of agency broken period is additional

CORPORATE CLUB - CONDITIONS
• A premium Agents Club called the “CORPORATE CLUB”
has been formed w.e.f. M.Y. 2004-05 to motivate and
recognize high performers of the country.
• Continues two financial year’s First Year Commission alone
is taken (First & First Year Renewal) and not bonus
commission.
• Current condition is Rs.18 lakhs commission for 2016-17
• Lapse Ratio < 10%
• Interview by Zonal Committee

CORPORATE CLUB - BENEFITS
• Office Allowance: Rs.2,00,000 (Max * conditions apply)
• Festival Advance : Rs.30,000
• Letter Heads and Envelopes : 1500 per year
• Visiting Cards: 1000 per year
• Conventions: Economy Air Fare
• Housing Loan at (5.5%) : 18 lakhs

CORPORATE CLUB - BENEFITS
• Car Advance: Rs.30 Lakhs
• Group Insurance : Rs.8,00,000 Prem: Rs.2,100
• Telephone Charges : Rs.15,000 per year
• Group Mediclaim Insurance: Rs.5,00,000
• Computer Advance : Rs.1,00,000
• Blazer : Rs.6,000

GALAXY CLUB - CONDITIONS
• Started from the f.y. 2013-14
• Continues two financial year’s First Year Commission or
Premium
• First Year Commission (w/o Bonus): Rs.10 lakhs or First Year
Premium 40 lakhs
• Lapse Ratio <10%
• Registration with MDRT (USA) is prerequisite
• Interview by Zonal Committee
P.S.; Ravindiran,
Rtn. P.S. Ravindiran, LICA, Chennai 9444407791 LICA, Chennai ; 944440791
GALAXY CLUB - BENEFITS
• Main: Not clubbed with Fringe Benefits of any club.
• Festival Advance: Rs.22,000
• Car Advance: Rs.10 Lakhs
• Office Allowance: 50% of Actual Expenses or Rs.1,00,000
whichever is lower)
• Telephone Charges : Rental + Calls Rs.12,000 p.a.

GALAXY CLUB - BENEFITS
• Group Mediclaim: Rs.4,00,000
• Conventions: Air fare upto Rs.60,000 to attend MDRT meet /
MDRT Experience meet + Rs.10,000 out of pocket expenses
for MDRT meet
• Blazer : Rs.5,000 once in 3 years
• Other Benefits: Same as C.M. Club member

Million Dollar Round Table – M.D.R.T.
• M.D.R.T. is for one Calendar Year.
• Current is called M.D.R.T. 2019
• Single Premium credit will be 6%
• M.D.R.T. is declared inclusive of Bonus Commission by
L.I.C. and not eligible to attend the international convention

Million Dollar Round Table – M.D.R.T.
On First Year Commission & Premium Basis:
CLUB COMMISSION PREMIUM
T.O.T. Rs.56,06,400 Rs.2,24,25,600
C.O.T. Rs.28,03,200 Rs.1,12,12,800
M.D.R.T. Rs.9,34,000 Rs.0,37,37,600
(Single Premium Credit = 6%)

Chairman’s CLUB - BENEFITS
• Office Allowance: Rs.85,000 (Max * conditions apply)
• Gift Items: 10,000
• Conventions: 2nd Ac Train Fare+ Rs.4500 per day

Chairman’s CLUB - BENEFITS
• Housing Loan : 8.5 (Cadre Loan) + 9.5 lakhs (Extended)
• Vehicle Advance: Rs.7 Lakhs
• Computer Advance : Rs.45,000
• Furniture Advance : Rs.35,000

ZONAL MANAGER’s CLUB - BENEFITS
• Office Allowance: Rs.22,000 (* conditions apply)
• Conventions: 2nd Ac Train Fare+ Rs.2500 per day

ZONAL MANAGER’s CLUB - BENEFITS
• Housing Loan : 7.45 (Cadre Loan) + 8.55 (Extended)
• Vehicle Advance: Rs.5 Lakhs
• Group Insurance : Rs.2,00,000 Prem: Rs.560

DIVISIONAL MANAGER’s CLUB - BENEFITS
• Office Allowance: Rs.12,000 (* conditions apply)
• Conventions: 2nd Ac Train Fare + Rs.400 per day

DIVISIONAL MANAGER’s CLUB - BENEFITS
• Housing Loan : 6.45 (Cadre Loan) + 7.55 lakhs (Extended)
• Vehicle Advance: Two Wheeler Only
• Group Insurance : Rs.1,10,000 Prem: Rs.300

Branch Manager’s CLUB - BENEFITS
• Stationery Allowance: Rs.1,000
• Conventions: 2nd Ac Train Fare + Rs.200 per day
• Vehicle Advance: Two Wheeler Only
• Group Insurance : Rs.55,000 Prem: Rs.150
To Qualify
To declare a club an agent should qualify for the “Qualifying
Year” and “2 out of 3 years” preceding the Qualifying year or
continuously for 3 years, inclusive of Qualifying Year.
Ex: For Club Year 2018-19, the qualifying financial year is
2017-18
Net Lives: Lapses of previous year will be deducted from
that year. i.e. 2015-16 lapses will be deducted from 2016-17
lives ; 2016-17 lapses will be deducted from 2017-18 and so
on
Here lapse means, premiums not paid for more than 6
months for 1st Policy Year only. Subsequent year lapses will
not be taken into account for CLUB
P.S.; Ravindiran,
Club Membership Eligibility Criteria
This is for This is for whole agency period,
Financial Year taken from inception of agency
Sl Club C.M. Z.M. D.M. B.M.
1 Min Net Lives 40 30 20 15
2 Net Lives Or Lives In 130 100 80 50
Force 600 400 250 150
3 Renewal 200000 140000 90000 50000
4 First Year, First Year
Renewal & Bonus 200000 140000 60000 35000

1 Min Net Lives 40 30 20 15
2 Net Lives Or 130 100 80 50
Lives In Force 600 400 250 150
3 Renewal 200000 140000 90000 50000
Renewal & Bonus 200000 140000 60000 35000
Up to 100% shortfall, can be Up to 50% shortfall, can be

made good with equivalent made good with equivalent
FY+FYR+ Bonus commission Renewal commission

3 Renewal 200000 140000 90000 50000
Renewal & Bonus 200000 140000 60000 35000
Example:
• If Renewal Commission for CM is 120000 then
FY+FYR+Bonus should be 280000.
• If FY+FYR+Bonus is 160000 then Renewal Commission
should be 240000.
• Like above you have to apply for others clubs also

DISTINGUISHED AGENTS’ CLUB
Minimum fulfilled one Agency Year
Business production of 40 LIVES with Rs.50,000 premium
in a FINANCIAL YEAR.
DEFINITION
Minimum Net Number of Lives: For entry or continuation of
any club, an agent has to bring in compulsorily Minimum Net
number of Lives, even non-fulfillment of all/other conditions in
a particular year.

DEFINITION
But condoned once, if continuous for 5 years & twice for 10
years in the same club. But fulfilled other conditions
1 Min Net Lives 40 (130) 30 (100) 20 (80) 15 (50)
 Net Number of Lives/ Number of Lives in force: An agent
can either bring in the Net number of lives or should have
number of lives in force starting from his/her agency period.

DEFINITION
2 Net Lives Or 130 100 80 50

Lives In Force 600 400 250 150
In a financial year duplicate lives are taken as ONE only.
P.S.; Ravindiran,
Percentage of Lapsation
• Should be less than 15% (no rounding off)
• If > 15% for a year, no disincentive, but no fresh advance for
vehicle or housing will be given
• If > 15% for continuous 2 years, then no convention and
Office/Stationary allowance
• If >15% for continuous 3 years, then he/she will loose the
CLUB MEMBERSHIP.
• Escalation Clause: 5% increase in each year on the
previous year’s Entry criteria in respect of First Year
Commission paid & Renewal Commission paid applicable for
entry from the Membership Year 2014-15 (Qualifying Financial
Year 2013-14).
Definition
• However, for continuation, 5% increase clause applicable from
Membership year 2015-16
• Relaxation in fulfillment of qualifying criteria: An agent who
has completed the age of 60 years as on the date of
commencement of club membership year and continuous
member for not less than 15 membership years (or)
immaterial of age continuous 25 years in the same club, can
continue the membership of the same club by fulfilling at least
75% of the criteria applicable for that club.
• If any agent is elevated to next higher club, then continuation
for lower club is taken

Definition
• Credit for revived policies: Allowed credit of ‘lives revived’ in
arriving at ‘Net Number of lives’. Revival should be done on or
before 31st March and the same should be intimated within 2
months (in Apr or May)
• Training: A member of any club and/or one whose
membership is continued in the said Membership Year will be
required to undergo training at ZTC/STC etc once in 4 years.

Definition
• Agency with any other Insurer: The agent working with LIC
shall not be eligible for grant / continuation of Membership of
any Club if any of his family member having agency with any
other life insurer.
FRINGE BENEFITS
Basic Office 50% of actual expenses OR 7.5% of FYC +
Allowance RC (Total Commission) OR
C.M. Z.M. D.M. B.M.
Rs.35,000 Rs.20,000 Rs.12,000 Nil
Least of the above three will be paid

Low Lapse Additional Office Allowance
(Only for C.M. Club)
Less or equal Addition Less or equal Addition 0% Lapse
to 10% 5% to 5% 18% Will Get 30%
Less or equal Addition Less or equal Addition Addition
to 9% 8% to 4% 20%
Less or equal Addition Less or equal Addition
to 8% 10% to 3% 22%
to 7% 12% to 2% 25%
to 6% 15% to 1% 28%

Additional Office Allowance based on lives
Net No. Of Lives & Total Office Telephone Sales Gift

Commission In Qualifying Yr Allowance Reimbursement Items
Lives 1000 & RC = 600000 Rs.8000 Rs.5000
(OR) RC +FYC = 1000000 Rs.50000 (Actual 6000) (Actual 3000)
Lives 1500 & RC = 900000 Rs.10000 Rs.7500
(OR) RC +FYC = 1500000 Rs.70000 (Actual 6000) (Actual 3000)

Additional Office Allowance based on lives
Lives 2000 & RC = Rs.12000 Rs.10000

1200000 (OR) RC Rs.100000 (Actual 6000) (Actual 3000)
+FYC = 2000000
Note: The maximum Office Allowance will be 50% of actual

expense or 7.5% of total commission earned in previous year
or as per above slab, whichever is less will be paid.

Office Allowance for potential CM’s Club
• Agents who would satisfy the CM’s club conditions in 1st Year
will get Rs.12,000 and qualified in 2nd Year also will get
Rs.20,000
• Note if the above is less than actual office allowance of
existing club, then the actual will be paid

Office Allowance for potential CM’s Club
• Agents who would satisfy the CM’s club conditions in 1st Year
will get Rs.12,000 and qualified in 2nd Year also will get
Rs.20,000
• Note if the above is less than actual office allowance of
existing club, then the actual will be paid

Group Mediclaim GROUP INSURANCE
Only for agent (not family) (FOR > 1 YR SERVICE)
Ex-1: If agent age at entry is 25, he

will get after completing age 60.
Ex-2: If agent age at entry is 55, he
will get after completing age 70.

Club benefits
Details C.M. Z.M. D.M. B.M.
1 Office/Stationery 35,000 22,000 12,000 Nil
2 Sales Gift Items 3,000 2,000 1,000 500
3 Festival Advance 15,000 15,000 15,000 12,000
4 Certificates Yes Yes Yes Yes
5 Badge Colour Red Blue Green Orange
6 Letter Head & Envelope 1000 750 500 300
7 Visiting Cards 250 200 150 100
8 Travelling Expense Econ Air 2nd AC 2nd AC 2nd AC
Fare

Club benefits
9 Daily Allowance for 800 700 500 375
Convention
10 Out of Pocket Expenses 3,000 1,100 400 200
11 Housing Loan Total 18 laks 16 laks 14 laks Nil
12 Vehicle Advance 7,50,000 5,00,000 2 2
Wheeler Wheeler
13 Computer Advance Yes No No No
14 Furniture Advance 35,000 35,000 35,000 Nil
15 Telephone Charges p.a. 6,000 4,000 2,400 1,800

Club benefits - Continuation
16 Group Term 2,40,00 1,20,000 60,000 30,000
Assurance 0
17 Group Mediclaim 1,25,00 75,000 55,000 40,000
Insurance 0
18 Samwardhan 14,000 Nil Nil Nil
Pension Scheme
19 Additional Office Yes No No No
Allowance based on
Lives & Lapse Ratio
20 Attestation Age Proof Yes Yes No No

Club benefits - Continuation
21 Attestation of Claim Yes Yes Yes No
Papers
22 M.H.R. Limit 50 laks 30 laks 20 laks 10 laks
23 L.I.C. Guest House Yes Yes Yes Yes
Facility

An agent statistics taken from lic
(This is available intra-net & can check any time)
Exclusive of Maturity, Death Claim,

Surrender, Lapse (Net Lives In Force)

I have taken this in F.Y. 2013-14
The figures are position of that year (current) as on that date
You can also see your past & current position in LIC intro-net
If possible I send later how to do it
List of Lapsed Lives for 2012-2013
Plan-
Sl.No Policy Name Premium S.A DOC FUPM Mode Status
Term
1 704946256 G.G.BALAJI 178-15 2923.00 500000 28/08/2012 10/2012 MLY 41
MAHESH RAJA
2 704946803 90-16 1071.00 200000 28/02/2013 04/2013 MLY 41
SINGH
3 704946917 M.SATHYA 178-20 2094.00 500000 26/03/2013 05/2013 MLY 41
4 706505281 T.SARAVANAN 91-16 3370.00 200000 28/08/2012 05/2013 QLY 41
5 706523090 SASIKALA.R 91-16 1099.00 200000 18/03/2013 04/2013 MLY 41

List of First Year Lapsed Policies
Sl.N Plan-
Policy Name Premium S.A DOC FUPM Mode Status
o Term
1 704946256 G.G.BALAJI 178-15 2923.00 500000 28/08/2012 10/2012 MLY 41
MAHESH RAJA
2 704946803 90-16 1071.00 200000 28/02/2013 04/2013 MLY 41
SINGH
3 704946917 M.SATHYA 178-20 2094.00 500000 26/03/2013 05/2013 MLY 41
4 706505281 T.SARAVANAN 91-16 3370.00 200000 28/08/2012 05/2013 QLY 41
5 706523090 SASIKALA.R 91-16 1099.00 200000 18/03/2013 04/2013 MLY 41

List of Probable Lapse
Sl.N
Policy Name Plan-Term Premium S.A DOC FUPM Mode Status
o
1 713342950 MISS S PADMAVATHI 14-30 1654.00 600000 20/08/2002 07/2013 MLY 21
SRI.D.AROKIA RAJAN a/s

2 712256793 75-20 284.00 50000 19/06/1997 07/2013 MLY 21
AROKIA RAYAN
3 713344423 MISS.S.PADMAVATHI 93-25 458.00 100000 20/07/2003 07/2013 MLY 21
4 714737183 B SENTHIL KUMAR 179-20 1831.00 500000 25/03/2009 07/2013 MLY 21
5 704946424 B.SENTHIL KUMAR 178-20 2607.00 600000 02/11/2012 07/2013 MLY 21

6 714737064 PADMAVATHI S 179-20 637.00 200000 28/02/2009 07/2013 MLY 21
7 713901075 SRI.K.THIRUPAL 149-15 762.00 100000 28/04/2004 07/2013 MLY 21
8 712290636 SRI G V SURESH 111-28 162.00 50000 28/10/1994 07/2013 QLY 21
9 712954176 SRI.B.SENTHIL KUMAR 111-30 273.00 280000 20/12/2000 07/2013 MLY 21

10 713341756 SMT E VASANTHA 124-15 1249.00 150000 19/02/2002 07/2013 MLY 21
11 710777267 14-25 105.00 30000 20/03/1991 07/2013 MLY 21
SRI R SUGUMAR & SMT CHITRA

12 712775088 89-20 266.00 50000 13/07/1998 07/2013 MLY 21
SUGUMAR
13 713342909 MR B SENTHILKUMAR 75-20 606.00 110000 15/08/2002 07/2013 MLY 21

Example -2 (Another Agent) Result: ZM Club
Net No. Of Lives Total Net No. Member On
Needed = 100 OR Of Lives Continuous 3 years
If not Min = 30 Needed = 400

Member On
Renewal Commn 1st Year Commn Continuous 3 years
>= 1,40,000 >= 1,40,000

3 Continuous Years Lapse Ratio Member On
OR 3 Out Of 4 Years < 15% Continuous 3 years
Qualifying Year
If you take sl. 1

4,5 & 6 2
Sl.4 will be 3
qualifying year 4
And D.M. Club
5
will be declared,
as ZM is higher 6
than D.M.
Example -3 (Another Agent) In 2013-14 will be
YEAR CLUB QUALIFIED
declared as C.M.
2012-13 CM
In this year will be
2011-12 CM declared as Z.M.
2010-11 CM
In this year will be
2009-10 ZM declared as D.M.
2008-09 DM In this year will be
2007-08 BM declared as B.M.
Very Important Note: By chance if you go out of club (non-club member),
then you have to start afresh. Past position or service will not be taken

Chase Your Desire Human Can Do Anything: Club Rules - 2016-17 F.Y

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Formats disponibles

Club Rules – 2016-17 F.Y.

Chase Your Desire

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

Up to 100% shortfall, can be Up to 50% shortfall, can be

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

2 Net Lives Or 130 100 80 50

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

Net No. Of Lives & Total Office Telephone Sales Gift

P.S. Ravindiran, LICA, Chennai ; 944440791

Lives 2000 & RC = Rs.12000 Rs.10000

Note: The maximum Office Allowance will be 50% of actual

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

Ex-1: If agent age at entry is 25, he

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

P.S. Ravindiran, LICA, Chennai ; 944440791

Exclusive of Maturity, Death Claim,

P.S. Ravindiran, LICA, Chennai ; 944440791

1 704946256 G.G.BALAJI 178-15 2923.00 500000 28/08/2012 10/2012 MLY 41

3 704946917 M.SATHYA 178-20 2094.00 500000 26/03/2013 05/2013 MLY 41

4 706505281 T.SARAVANAN 91-16 3370.00 200000 28/08/2012 05/2013 QLY 41

5 706523090 SASIKALA.R 91-16 1099.00 200000 18/03/2013 04/2013 MLY 41

P.S. Ravindiran, LICA, Chennai ; 944440791

1 704946256 G.G.BALAJI 178-15 2923.00 500000 28/08/2012 10/2012 MLY 41

3 704946917 M.SATHYA 178-20 2094.00 500000 26/03/2013 05/2013 MLY 41

4 706505281 T.SARAVANAN 91-16 3370.00 200000 28/08/2012 05/2013 QLY 41

5 706523090 SASIKALA.R 91-16 1099.00 200000 18/03/2013 04/2013 MLY 41

P.S. Ravindiran, LICA, Chennai ; 944440791

SRI.D.AROKIA RAJAN a/s

3 713344423 MISS.S.PADMAVATHI 93-25 458.00 100000 20/07/2003 07/2013 MLY 21

4 714737183 B SENTHIL KUMAR 179-20 1831.00 500000 25/03/2009 07/2013 MLY 21

5 704946424 B.SENTHIL KUMAR 178-20 2607.00 600000 02/11/2012 07/2013 MLY 21

9 712954176 SRI.B.SENTHIL KUMAR 111-30 273.00 280000 20/12/2000 07/2013 MLY 21

SRI R SUGUMAR & SMT CHITRA

13 713342909 MR B SENTHILKUMAR 75-20 606.00 110000 15/08/2002 07/2013 MLY 21

P.S. Ravindiran, LICA, Chennai ; 944440791