New Incentive Structure of PLI and Engagement of Development Officer and Agents

Promotional (sales) Structure and Incentive Structure of PLI

• Renewal Incentive
• New Incentive Structure for RPLI
• Renewal Incentive of RPLI
• Incentive on Online/Cash/Pay policies
• Termination of Agency/Superannuation/Discharge from service
• Engagement and Duties of Direct Agents in PLI
• Payment of commission
• Issue of License, Agent Code, ID Card to Field Officers

F.No.28-03/2019-LI
Government of India Ministry of Communications
Department of Posts
(Directorate of Postal Life Insurance)

Chanakyapuri P.O. Complex, New Delhi-110021
Dated : 19.06.2020

To,
All Heads of Circles
Addl DG APS
Director, RAKNPA/GM, CEPT
All Regional PMSG
All Directors PTCs

Office Memorandum

Subject: New Promotional and Incentive Structure of PLI / RPLI

The promotional (sales) structure and incentive structure of PLI/RPLI was last revised in August 2016 & April 2017 respectively. However, most of Circles had raised concerns in the implementation of the revised promotional structure.

In view of the concerns raised by Circles in implementing the promotional structure, low growth in procurement of new PLI/RPLI business and decreasing trend in net accretion of PLI/RPLI premia, the existing sales structure of PLI/RPLI has been revamped based on the feedback received from the Circles.

The new promotional and incentive structure of PLI / RPLI is enclosed as Annexure-I to Annexure-VI.

The new promotional and incentive structure of PLI/RPLI will be effective from 01.07.2020.

sd/-
(L. N. Sharma)
Chief General Manager (PLI)

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