LIC Club Membership Benefits

Posted on by UmaRani

Club Membership is

  • Recognition for meritorious agents
  • Performance reward
  • Financial & Non-Financial motivator
  • Inducement for higher performance

What are the Club Memberships in LIC?

  • Chairman’s Club
  • Zonal Manager’s Club
  • Divisional Manager’s Club
  • Branch Manager’s Club
  • Distinguished Agents Club

Who are eligible to get Club Membership?

Conditions for entry and continuation

SNO ELIGIBILITY CRITERIA CM ZM DM BM DA
1 Min Net No. Of Lives 40 30 20 15 40
2 Net No.of Lives OR 130 100 80 50 40
No.of Lives in Force 600 400 250 150 40
3 Renewal Commi.Paid 210000 147000 95000 53000 –
4 First Year Comm.Paid 210000 147000 63000 37000 50000

The criteria will have to be fulfilled in qualifying year and in any two out of three financial years preceding the qualifying year for both entry and continuation.

Lapsation: Lapsation of policies secured by agent should not be more than 15%.

Relaxation clause: A shortfall in fulfillment of F.Y commission paid condition may be condoned max. up to 50% provided it is compensated with an increase of the same or higher % in renewal commission paid. A shortfall in fulfillment of renewal commission paid condition may be condoned max. up to 100% provided. It is compensated with an increase of the same or higher % in F.Y. commission paid.

Training : All the club members are required to undergo training once in a period of 4 years.

DA Club Membership:

  • First Step in Club Membership
  • Any Agent who has completed 1-year service will be eligible
  • Minimum Net Lives : 40
  • Minimum First Yr Comm: Rs.50,000/-

LIC Club Membership Benefits :

LIC Club Membership Benefits include various benefits available to the Agents who are members of any of the Clubs of the LIC.  We are giving the benefits those, which you will get by becoming a LIC Club Member. Various benefits available to the Club Member of the LIC are Fringe Benefits, Housing Loan Benefits etc,..Complete information about LIC Club Membership such as LIC Club Membership Benefits, Types of Club Membership of LIC Club Member are available below.

Various benefits are given to Club Member Agents in LIC. Let us see one-by-one in DETAIL.

Office/Stationery allowance* :

  • CM Club Member   –   Rs.35,000 pa
  • ZM Club Member   –   Rs.22,000 pa
  • DM Club Member   –   Rs. 12,000 pa
  • BM Club Member   –        N/A

Gift Items :

  • CM Club Member   –   Rs.5,000 pa
  • ZM Club Member   –   Rs.2,000 pa
  • DM Club Member   –   Rs.1,000 pa
  • BM Club Member   –   Rs. 500 pa

Festival Advance*:

  • CM Club Member   –   Rs.20,000 pa
  • ZM Club Member   –   Rs.20,000 pa
  • DM Club Member   –   Rs.20,000 pa
  • BM Club Member   –   Rs.15,000 pa

*interest-free recovery in 10 installments

Letter heads with Envelopes:CAREER AS LIC AGENT

  • CM Club Member    –   1000 Nos.
  • ZM Club Member    –   750 Nos.
  • DM Club Member    –   500 Nos.
  • BM Club Member    –   300 Nos.

Visiting Cards:

  • CM Club Member   –   250 Nos.
  • ZM Club Member   –   200 Nos.
  • DM Club Member   –   150 Nos.
  • BM Club Member   –   100 Nos.

Traveling & Out of Pocket Expenses:

  • CM Club Member   –   Economy class Airfare
  • ZM Club Member   –   II tier AC
  • DM Club Member   –   II class AC
  • BM Club Member   –   II class AC

MHR Limits:

  • CM Club Member   –   100 Lakhs
  • ZM Club Member   –   60 Lakhs
  • DM Club Member   –   40 Lakhs
  • BM Club Member   –   20 Lakhs

Housing Loan @ 5% & Extended loan @ 9.5%:

  • CM Club Member   –   18.50L + 21.50L
  • ZM Club Member   –   11.25L + 13.75L
  • DM Club Member   –   09.00L + 11.00L
  • BM Club Member   –   N/A

Interest free Vehicle advance:

  • CM Club Member   –   Car advance – Full purchase price or Rs.7.50L,which ever is less
  • ZM Club Member   –   Car advance – Full purchase price or Rs.5L,which ever is less
  • DM Club Member   –   Scooter advance – Full purchase price or Last 2 years RC.
  • BM Club Member   –   Scooter advance – Full purchase price of 75% of last 2 yrs RC which ever is less

Computer Advance:

  • CM Club Member   –   Full Purchase price or Rs.1L @ 9% in 60 installments
  • ZM Club Member   –   Nil
  • DM Club Member   –   Nil
  • BM Club Member   –   Nil

*for maintaining personal computer

Telephone Facility:

  • CM Club Member   –   Rs.8000 pa
  • ZM Club Member   –   Rs.4000 pa
  • DM Club Member   –   Rs.2400 pa
  • BM Club Member   –   Rs.2400 pa

Group Mediclaim:

  • CM Club Member   :   Rs.3,00,000
  • ZM Club Member   :   Rs. 2,00,000
  • DM Club Member   :   Rs. 1,50,000
  • BM Club Member   :   Rs. 1,00,000

Group Insurance(Club Members):

  • CM CLUB : Rs.4,00,000
  • ZM CLUB : Rs.2,00,000
  • DM CLUB : Rs.1,10,000
  • BM CLUB : Rs. 55,000

For more details leave a message at venuumarani.r@gmail.com or call on +91-88850 56402.