About Me
- Arivukkadal
- Trichy, Tamil Nadu, India
- Working as an Assistant in LIC of India, Rockfort BO, Trichy, TN. Having a strong belief that LIC's welfare is our welfare and always trying to work towards that. I'm a member of AIIEA.
Thursday, December 31, 2009
New Year Wishes!
Tuesday, December 29, 2009
CPI(M) to protest against Swarup Committee report
‘Policies of Union Government pose a threat to LIC’
Proposal to scrap promotional activities termed ‘ridiculous’
MANGALORE: The Life Insurance Corporation Agents Organisation of India (LICOA) resolved to oppose the proposed legislations of the United Progressive Alliance government during its two-day State conference that began here on Sunday.
The LICOA, which is affiliated to the Centre for Indian Trade Unions (CITU) and is backed by the Communist Party of India (Marxist), has concluded that the policies of the Union Government posed a grave threat to the LIC.
Speaking to presspersons on the sidelines of the conference, Basudev Acharia, CPI (M) MP from Bankura, West Bengal, said that his party and the unions aligned with it would launch a nation-wide agitation against the D. Swarup Committee report.
The report, which was submitted to the Union Government on December 3, recommends scrapping of the commission being paid to LIC from 2011. It favours complete stoppage of LIC promotional activities such as advertisements as the committee felt that those interested in securing an insurance policy would approach the corporation, if need be. Arguing that the recommendations of the committee were aimed at finishing off this 53-year-old Rs. 9-lakh-crore public sector behemoth, Mr. Acharia said that nearly 10 lakh LIC agents would be rendered jobless if the recommendations were to be adopted. He termed “ridiculous” the suggestion to scrap promotional activities.
Raising concerns over the alleged “capitulation” of the Union Government to multi-national insurance lobbies, he said there was a “conspiracy to destroy LIC” so as to prepare a ground for the entire of foreign players in the insurance sector.
Mr. Acharia said that he had introduced a private member’s Bill in Parliament demanding job security, pension and welfare fund for LIC agents.
Courtesy: The Hindu
(I try to publish here the details of the above said Bill as early as possible.)
Saturday, December 26, 2009
Withdrawal of LIC’s Health Plus (Table No. 901)
effect from 1st January, 2010.
The premium under the plan may be deposited till 31st December, 2009.
Completion under the plan will be allowed upto 31st January, 2010 only.
Changes in Market Plus I
2.The minimum deferment period is being increased from 5 yrs to 10 yrs for both life and without life cover plans.
3.The minimum regular premium, both for with and without life cover plans, is being increased from 5000/-p.a to 10,000/- for policy term of 15 to 19 years and from 5000/- to 15000/- for policy term of 10 to 14 years.
4.For Monthly ECS too the minimum premium under regular premium policies is being increased from 1000/- to 1500/- for policy term 10 to 14 years.
5.The minimum premium under single premium policy is also being increased from 10,000/- to 30,000/- for without life cover policies and from 25000/- to 30,000/- for with life cover policies.
6.For DAB the maximum entry age is being reduced from 65 years to 60 years.
(Note: No change in other conditions)
Friday, December 25, 2009
Trust thy name is LIC
Friday, December 18, 2009
Claim of Same Life- We paid, Private repudiated
Death Claims amounting Rs.7,73,744 paid by LIC of India to Ms.Ragini Dhruve wife of deceased Mr.Kalpesh Dhruve.
Mr.Kalpesh Dhruve also had a policy with Max New York Life Insurance Co.
Max New York repudiated the (same) claim stating that Mr.Kalpesh Dhruve suppressed the fact that he had high BP.
Even though the death occurred after 3 years from the commencement of Risk of his policy with Max New York!
The details, i.e. copy of LIC's Cheques, repudiation letter of Max New York are given here in the pdf file.
This is a good example for the service offered by private insurance companies!
Spread this to all!
Normally, we get irritated whenever NB Dept. asks for additional requirements. But, only because we insist and get all necessary details and requirements before completion, we are able to settle claims speedier!
Private companies accept all without insisting on requirements; But insist all the requirements at the time of claim! They even utilizing it to repudiate the claims!!
LIC always searches for reasons to settle claims in favour of policyholders!
Private Companies search for reasons to repudiate!!
Thursday, December 17, 2009
Insurance Bill could leave agents poorer
Because the Bill does away with Section 40A of the Insurance Act, 1938, which prescribes the amount of commission an insurance company can pay its agents.
The agents, currently at loggerheads over the recommendations of the D Swarup Committee, could be in for a double whammy if the panel’s recommendations on agency commission and related provisions in the Bill pass muster.
The Bill also omits Section 40, which talks about the total commission that can be paid in the first five years as well as section 44, which concerns hereditary commission payable to agents in the event of the death of the agent or on quitting the company.
Further, section 45, which talks about the right to question and punish an agent in the event of a policyholder’s death within 2 years, has been altered to read 5 years.
Going by industry sources, the Bill has omitted Section 40A with the intention of bringing it under the direct purview of the insurance regulator, which could come up with a commission formula in due course.
“To be frank, if one calculates the commission for the total sum assured, then for a conventional plan of Rs 1 lakh cover, the commission works out to 5% of the total premium paid over a period of 20 years. Agency commission ranges from 0.3% in unit linked plans to 5% in conventional plans if calculated on the sum assured,” R S Ramanujam, general secretary, Life Insurance
Agents Federation of India, south central zone said.
“We are against it (provisions in the Bill) and this is not supportive of agents. We want all the classes to remain unchanged as per the Insurance Act 1938 unless a better alternative is given. Removing these sections will definitely panic the agents,” he said.
A section of agents working for private sector insurance companies said they have come together under one platform to jointly protest the implementation of the provisions proposed in the Bill.
(Source: http://www.dnaindia.com/dnaprint.asp?newsid=1324130)
Wednesday, December 16, 2009
Our Business upto 15.12.2009
Upto Dec.15th | Current Year | Last Year | Growth |
New Policies | 2,08,23,335 | 1,75,74,515 | 18.49% |
First Premium | Rs.20,334 Cr | Rs.15,659 Cr | 28.98% |
MPs seek fair deal to LIC agents
Congress and Trinamool Congress members in the Lok Sabha on Monday made a strong plea for a fair deal to around 50 lakh LIC agents in the country, protesting against a move by the Corporation to deregister their services.
Raising the issue during Zero Hour, Jai Prakash Agarwal (Cong) said these agents have been doing valuable work of spreading the insurance net far and wide without being provided any office accommodation and get an average meagre monthly commission of Rs.3,000.
He was supported by several party members including Datta Meghe and those from Trinamool Congress.
BJP member Bishnu Pada Ray demanded that the honorarium for angawadi workers in Andaman and Nicobar islands be raised substantially.
Life Insurance Agents sataging a demonstration at Jantar Mantar against the recommendations of Swarup Committee set up by Government, in New Delhi on Friday December 11, 2009.
LIC pays 9.8 bln rupees advance tax in Oct-Dec
(Rs.9.81 billion=Rs.981 Crore)
-Reuters-MUMBAI
Mon Dec 14, 2009 6:35pm IST
LIC hikes stake in 3i Infotech to 10.69%
LIC has bought 36.10 lakh shares, representing 2.14 per cent stake in the software firm, 3i Infotech said in a disclosure on the Bombay Stock Exchange.
Prior to the transactions, LIC held 8.56 per cent stake in the IT firm, which now has gone up to 10.69 per cent or 1.80 crore shares of 3i Infotech.
Shares of 3i Infotech today closed at Rs 84.55 on the BSE, down by 1.63 per cent from its previous close.
14 Dec 2009, 1846 hrs IST, PTI
Monday, December 14, 2009
NAV
B 51.35
FU 21.68
J 20.03
MY 11.32
MK 14.20
FO 11.10
P 10.95
H 11.23
MY1 13.05
MK1 13.09
CF 14.17
HP 10.63
JS 10.93
-Arivukkadal
Private Insurance cos not in good health; see drop in biz volumes
-TV18’s Avni Raja report.
The stock markets may have traded firm in recent months and even hit 2009-highs, but private are not smiling. They say investor sentiment is still low, and premium inflows have been hit.
As per an Edelweiss report, only insurance giant LIC has managed to clock a volume growth of 16% in its new business, and that's because it banks hugely on its traditional products. The report adds that private players, who demand largely on unit-linked insurance plans (ULIPs), have not fared well.
Of the 23 private insurance players, only two have reported growth in new business. All the others have lost new business—ICICI Prudential saw a 36% drop, Bajaj Allianz saw volumes fall 38%, and Kotak's new business fell 42%.
The main reason for this, the report says, is a fall in demand for ULIPs. It says players will have to revert to traditional products to regain this lost momentum. One main reason for the better performance of traditional products is that IRDA's charge cap does not apply to them. So insurers continue to offer higher commissions on traditional policies, and these products find favour with agents and distributors.
Good Morning 14/12/2009
you can always begin again!
-Buddha
You still have
107 Days(29.31%)
to Succeed!
So begin
(at least)
NOW!
NAV
B 51.35
FU 21.67
J 20.03
MY 11.32
MK 14.20
FO 11.11
PR 10.95
H 11.24
MY1 13.05
MK1 13.09
CF 14.16
HP 10.62
JS 10.93
-Arivukkadal
Stock Market
BSE
Sensex -70.28
Midcap -39.55
NSE
Nifty -17.35
Midcap -22.05
These are not direct indicators of NAV
-Arivukkadal
Sunday, December 13, 2009
Life insurance agents protest against D. Swarup Committee's recommendations
New Delhi, Dec 11: Thousands of agents of the Life Insurance Agent's Federation of India on Friday staged a protest against the recommendations of the Pension Fund Regulatory and Development Authority (PFRDA) Chairman D. Swarup, in the national capital.
D. Swarup Committee's suggestion to the Government to make insurance a fees based profession instead of the current commission based did not go down well with the federation.
Addressing the media, Chairman of the federation, H.M. Jain, demanded that the Government should scrap the recommendation, as this will adversely affect the insurance profession in the country.
"He (D. Swarup) has suggested that commission should be deducted from premium and insurance should be made fees base. I think that insurance has not yet developed in India. Leave alone India, even in those countries where insurance is developed, this system hasn't been employed. In India we have just reached 12-15 percent of the insurable populace, from where we collect Rs. 2 lakh crore and hand it over to the Government," Jain said.
"If this is made fees base, then insurance, which has to be sold because nobody comes out to buy it, this profession will die. Together with this, those companies and all the money invested in country's development will go for a big loss," he added.
Jain also said that if benefiting the investors is what is driving the Government, then it can be achieved though cost reduction measures.
"If the Government and Swarup is serious that policy holder should be benefited then the payment should be made at the mortality. LIC (Life Insurance corporation) and private companies should reduce their expenses, increase the bonuses, include agents into servicing, so that the cost can be reduced and people will be benefited," Jain said.
Senior Samajwadi Party (SP) leader Ramgopal Yadav also attended the protest and assured the protesting agents that his party will make sure that the report will not get the support of the parliament.
"This will decide the fate of lakhs of people and the government is moving against them with this proposal. While foreign companies flourish, Bhartiya Jeevan Beema Nigam (Life Insurance Corporation of India), which has invested crores of wealth of the country in industries, the Government is intent on destroying it," Yadav said.
"We'll raise the issue in the parliament. I'll also speak to the Finance Minister and say that this report which is coming up against lakhs of people whichever committee has recommended it, this should not come in the parliament and neither should it be passed," he added.
Bombay News.Net
Friday, December 11, 2009
NAV
B 52.06
FU 21.76
J 20.12
MY 11.35
MK 14.24
FO 11.13
P 10.98
H 11.26
MY1 13.09
MK1 13.12
CF 14.20
HP 10.64
JS 10.94
-Arivukkadal
Insurance agents to stage dharna
"The protest would be against Swarup Committee Report that threatens to end the very existence of insurance agents in the country," Life Insurance Agents' Federation of India President H M Jain told reporters here.
"Implementation of the recommendation will make the role of 25 lakh life insurance agents working with LIC and private insurers redundant and adversely affect crores of people who are dependent on them," he said.
The Committee on Investor Awareness and Protection, headed by interim PFRDA Chairman D Swarup, in its consultation paper had proposed elimination of upfront commission paid to insurance agents by April 2011.
"Immediately the upfront commissions embedded in the premium paid (to agents by insurance companies) be cut to not more than 15 per cent of the premium. This should fall to 7 per cent in 2010 and become nil by April 2011," a consultation paper prepared by the committee had said.
In a country like India insurance is not bought but it is sold, Jain said, adding that the elimination of commission would hurt the industry and starve the nation of long-term capital for development.
(Courtesy:Business Standard)
Good Morning 11/12/2009
Never explain
Never defend urself
Never make excuses
These are ways to
cheat urself
Instead
Repeat efforts
110 Days(30.13%)
Thursday, December 10, 2009
Stock Market
BSE
Sensex +64.09
Midcap +18.26
NSE
Nifty +22.65
Midcap +11.05
These are not direct indicators of NAV
-Arivukkadal
NAV
B 52.06
FU 21.70
J 20.08
MY 11.31
MK 14.19
FO 11.10
P 10.93
H 11.25
MY1 13.05
MK1 13.08
CF 14.16
HP 10.64
JS 10.90
-Arivukkadal
Good Morning 10/12/2009
Success
doesn't depend upon
being
at the right place
at the right time;
it depends upon
being READY!
Be prepared & succeed
111Days(30.41%) more
Stock Market
BSE
Sensex -102.46
Midcap -38.67
NSE
Nifty -35.95
Midcap -14.15
These are not direct indicators of NAV
-Arivukkadal
Wednesday, December 9, 2009
NAV
B 52.06
FU 21.76
J 20.16
MY 11.36
MK 14.25
FO 11.16
P 10.99
H 11.28
MY1 13.10
MK1 13.17
CF 14.21
HP 10.65
JS 10.95
-Arivukkadal
If these people can do...
All India Top Agents upto 30.11.2009
Policies
Rank | Agent | Policies |
1 | Chetankumar Nagindas Desai | 22643 |
2 | S.Brindhaa | 3717 |
3 | Varikutty Prabudas | 2365 |
4 | Madan Mohan Singh | 2289 |
5 | Shahjahan | 1616 |
6 | Ramesh Chandra Patel | 1137 |
7 | Tejas N Desai | 1045 |
8 | D.Venkatesan | 1041 |
9 | Preeti Desai | 1035 |
10 | Manojkumar Dubey | 1024 |
11 | Anuradha Kolkur | 1013 |
12 | Abhay V Phadke | 1001 |
Total Premium
Rank | Agent | Rs.Cr. |
1 | Anushman Patnaik | 23.99 |
2 | Ravindar Jethani | 21.95 |
3 | Harendra D Shah | 12.00 |
4 | Ragini | 7.30 |
5 | Kiran Gupta | 6.24 |
6 | U K Mehta | 5.93 |
7 | Harshit Vimal Goenka | 5.80 |
8 | Manojkumar Jivankrishna Sinha | 5.61 |
9 | Anoop Tiwari | 5.18 |
10 | Dindayal R Singh | 4.85 |
(Other particulars of the Agents are purposely avoided.)
Why can't you?
Good Morning
it is not a necessity
that
U be the best;
but
the necessity is
that
U have to TRY YOUR BEST!
112 Days(30.68%) more
Good Morning
Tuesday, December 8, 2009
Stock Market
BSE
Sensex +244.54
Midcap +85.52
NSE
Nifty +81.25
Midcap +38.40
These are not direct indicators of NAV
-Arivukkadal
OUR FREE SMS SERVICE
can join our
FULLY FREE SMS service
by SMSing
JOIN LICTRY
to 567678
Any LIC Policyholder
can join
by SMSing
JOIN LICGNAV
Both receive NAV, Stock Market Result and News about LIC!
In addtion Agents receive Daily Motivation and other items related to Agents!!
NAV
B 51.73
FU 21.59
J 19.98
MY 11.26
MK 14.11
FO 11.06
P 10.89
H 11.23
MY1 13.03
MK1 13.04
CF 14.15
HP 10.61
JS 10.84
-Arivukkadal
Good Morning 08/12/2009
by the seeds U plant;
not
by the harvest U reap!
The more U seed
the more U will reap!
U have
113 days(30.95%) more to seed
Monday, December 7, 2009
Stock Market
BSE
Sensex -118.40
Midcap -52.04
NSE
Nifty -42.20
Midcap -21.75
These are not direct indicators of NAV
-Arivukkadal
NAV
B 51.73
FU 21.69
J 20.06
MY 11.32
MK 14.19
FO 11.12
P 10.95
H 11.26
MY1 13.08
MK1 13.13
CF 14.20
HP 10.63
JS 10.89
-Arivukkadal
Good Morning 07/12/2009
if
U stop & throw stones at every dog that barks
-Winston Churchill
114 Days(31.23%) more
Good Morning
Sunday, December 6, 2009
Good Morning 06/12/2009
You have
115 days(31.50%) more
including
16 sundays!
If you plan to take rest on sundays
you have
99 days(27.12%) only!
NAV
B 51.73
FU 21.66
J 20.06
MY 11.32
MK 14.19
FO 11.13
PR 10.95
H 11.27
MY1 13.08
MK1 13.13
CF 14.20
HP 10.64
JS 10.89
-Arivukkadal
Good Morning 05/12/2009
is
the only place
where
'success'
comes before
'work'!
116 days(31.78%) more!
NAV
B 51.41
FU 21.66
J 20.11
MY 11.35
MK 14.22
FO 11.16
P 10.97
H 11.29
MY1 13.11
MK1 13.15
CF 14.22
HP 10.64
JS 10.93
-Arivukkadal
Stock Market
BSE
Sensex -84.14
Midcap -12.58
NSE
Nifty -22.80
Midcap +1.20
These are not direct indicators of NAV
-Arivukkadal
Friday, December 4, 2009
Insurance agents protest against insurance bill
Mumbai, Dec 4 (PTI) Protesting against the Insurance Amendment Bill and the Swarup Committee report, LIC agents today staged a 'dharna' at the Azad Maidan in the city.
The organisation has over two-lakh agents associated with it, he said, adding that around 10,000 agents had assembled here to take part in the protest 'dharna'.
Good Morning 04/12/2009
of
the failures are
due to
lack of persistence
to
create new plans
@
the place of failed plans.
Get it
&
Succeed
in 117 days 32.05%
LIC's market share rises 65%
NEW DELHI: The country's largest insurer, Life Insurance Corporation has increased its market share by 10 per cent to 65 per cent by garnering new businesses worth Rs 30,469 crore in the first seven months of the current fiscal.The market share of LIC improved by 10 per cent from 55 per cent at the end of October last year.
Meanwhile, the overall life insurance industry registered over 17 per cent growth in the April-October period of this financial year.
The 22 insurers collected Rs 46,689 crore first year premium in the April-October period this year, against Rs 39,684 crore in the same period last year.
During April-October 2008, LIC had mopped up first year premium of Rs 21,874 crore against the industry collection of Rs 39,684 crore, according to figures released by Insurance Regulatory and Development Authority (IRDA).
However, the private life insurance industry has registered a decline of 9 per cent. The 21 private insurers have collected Rs 16,217 crore first year premium during April-October period this year as compared to Rs 17,810 crore during the same period in 2008-09.
Private insurer ICICI Prudential was the worst hit as its premium declined by 33 per cent in the first seven months of the current fiscal from the corresponding period last year. The insurer mopped up first year premium of Rs 2,587 crore during April- October period this year.
Thursday, December 3, 2009
Swarup sticks on; IRDA determined to oppose
Stock Market
BSE
Sensex +15.77
Midcap +25.87
NSE
Nifty +8.45
Midcap +24.50
These are not direct indicators of NAV
-Arivukkadal
Where we are...
New Pols 1,95,63,559
(Last yr 1,65,32,697)
Growth 18.33%
New Prem Rs.18,765 Cr
(Last Yr Rs.14,856 Cr)
Growth 26.32%
NAV
B 51.41
FU 21.57
J 20.06
MY 11.31
MK 14.18
FO 11.13
P 10.95
H 11.28
MY1 13.08
MK1 13.12
CF 14.18
HP 10.63
JS 10.90
-Arivukkadal
Interview with SDM
with
Thanjavur Dvn SDM
on
Health Policies
S TV(Trichy only)
03.12.09 Thursday 7 to 8 PM
Watch
&
Make your customers to watch
Stock Market
BSE
Sensex -28.36
Midcap +58.92
NSE
Nifty +1.25
Midcap +13.95
These are not direct indicators of NAV
-Arivukkadal
NAV
B 51.41
FU 21.57
J 20.05
MY 11.30
MK 14.17
FO 11.10
P 10.94
H 11.29
MY1 13.07
MK1 13.11
CF 14.16
HP 10.64
JS 10.86
-Arivukkadal
Wednesday, December 2, 2009
Good Morning 02/12/2009
your
blessings;
Not
your
problems!
If
you
learn
&
do so,
Nothing can
stop you
from succeeding
in the
remaining 119 days(32.60%)
Stock Market
BSE
Sensex +272.05
Midcap +113.29
NSE
Nifty +89.30
Midcap +44.90
These are not direct indicators of NAV
-Arivukkadal
Tuesday, December 1, 2009
NAV
B 50.17
FU 21.32
J 19.84
MY 11.17
MK 14.00
FO 10.97
P 10.82
H 11.24
MY1 12.97
MK1 12.95
CF 14.07
HP 10.62
JS 10.75
-Arivukkadal
Good Morning 01/12/2009
do not burn
until
brought to a focus.
Concentrate
all ur thoughts
upon
ur target.
U will definitely achieve it
in 120 ds
32.87%
Stock Market
BSE
Sensex +294.21
Midcap +102.71
NSE
Nifty +90.95
Midcap +48.25
These are not direct indicators of NAV
-Arivukkadal
NAV
B 50.17
FU 21.07
J 19.63
MY 11.05
MK 13.85
FO 10.85
PR 10.70
H 11.19
MY1 12.88
MK1 12.78
CF 13.97
HP 10.59
JS 10.59
-Arivukkadal