rules regarding lic renewal commission

mohit arora (Querist) 15 April 2008 This query is : Resolved
Respected sir,
i am a LIC agent for the last 2 years. i have completed my target of 5 years that is 60 cases in 2 years . sir , i just want to know after how many years ,if we surenderd our agency ,our renewal commission will not be effected. as in my case if i surrenderd after 3 years as ( completed target of 5 years in 2 years) my renwal commission will be given to me or not?

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Prakash Yedhula (Expert) 10 June 2008
What is the arrangement entered into between LIC and yourself? Since it is purely a contractual relationship, the agreement between yourself and LIC as to the payment of commissions needs to be seen before any advice is given

Srinivas.B.S.S.T (Expert) 20 June 2008
I dont think LIC would have given you such a leverage. Any how as my friend said you better disclose more facts about your agreement with LIC

SANJAY DIXIT (Expert) 25 June 2008
For getting renewal commission from LIC; you should give the targetted business for first five agency years.Doesn't matter what excess target you have given in two years.

Ashey (Expert) 03 April 2009
i go with Mr. Sanjay

Hiralal Das (Expert) 06 April 2009
Thanks all of you the ld. members.
I think your valuable opinion will assist everybody to solve their problem/matter in question properly.

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