Incentive Structure for Agents and field Officers of PLI & RPLI
DIRECTORATE OF POSTAL LIFEINSURANCE
Department
of Posts,Ministry of Communications &
InformationTechnology,
Government of India
Chankyapuri
PostOffice Complex, New Delhi – 110021
No. 26-02/2009-LI
Dated – 18.09.2009
All Heads of Circles
Directorate PSCI, Ghaziabad
All Regional PMsG
All Directors PTCs
Addl DG APS
Subject:Re-vitalization of PLI/RPLI
Agency System
(i) Changes in the Agency System of PLI andRPLI:
(ii) Revision
of the existing incentiveStructure for Agents and field Officers of PLI &
RPLI
In pursuance of decision of Postal
Services Board in its 1stmeeting held on 07.08.2009 as circulated
under Department of Posts letter No.1-1/2009-PSB dated 20.08.2009 the following
orders are issued to have effectfrom 01.10.2009: -
(i) In
partial modification of Postal Services Board(2007) decision as contained in
PLI Directorate orders No. 26-02/2003-LI dated20.09.2007 Divisional Head is now
delegated the powers to engage PLI DirectAgents. A minimum number of 20 PLI
Agents should be engaged per division;
(ii) PLI Agents
/FOs (PLI) will be paid commission @of 2% of renewal premium collected by them
on PLI cash policies procured on orafter 01.10.2009. This commission in over
and above the existing commissionbased on sum assured of business procured;
(iii) Inpartial modification of postal
Services Board decision as contained in PLIDirectorate orders No. 26/02/2003-LI
dated 20.09.2007, Divisional Head is nowdelegated the powers to engage the RPLI
Agents including Angan-wadi workers,Mahila Mandal workers, Ex-servicemen,
retired School Teachers, SHGs, GramPradhan/Members of Gram Panchayats etc, in
order to expand the agency base ofRural PLI. A minimum number of 30 RPLI Agents
should be engaged per Division;
(iv) RPLIAgents/Sales
force will now be paid commission @ of 10% of first year premiumand 2.5%
commission on renewal premium collected by them on policies procuredafter
01.10.2009. An additional commission of 1.5% of premium will also be paidto
group leaders/entrustees for collecting premum towards 1000 or more suchRPLI
policies procured on or after 01.10.2009.
2. The detailed procedure
ofempanelment of Direct Agents is given in Appendix to this letter. Heads
ofCircles are requested to issue necessary instructions to all Divisions
/Regionsto commence the process of empanelment of Agents forthwith so that
requirednumber of agents are in place from 01.10.2009.
3. These orders shall also
beapplicable to Agents already working.
4. Operating and Accountingprocedure
is being issued separately. Necessary modification in the Software isbeing made
and is being communicated.
5. This issues with the approvalof
competent authority.
Sd/-
(Shekhar. K. Singha)
Chief General Manager
