Promotional and Incentive Structure of PLI/RPLI – Clarification in respect of sales force: Directorate of PLI Order dated 20.04.2023
DIRECTORATE OF POSTAL LIFE INSURANCE
Chanakyapuri Post Office Complex,
Chanakyapuri, New Delhi-1100021
No. 28-06/2014-LI (Pt-I)
Dated:20.04.2023
To
All Heads of Circles
Subject:ย Promotional and Incentive Structure of PLI/RPLI – Clarification in respect of sales force reg.
This is regarding procurement of PLI/RPLI policies in a financial year andย has a reference to PLI Directorateโs letter no. 28-03/2019-LI1(4) dated 25.06.2021.
In this connection, the following is clarified in respect of sales forceย procuring PLI/RPLI business:
| Sl No. | PLI RPLI Incentive Issue | PLI RPLI Incentive Clarification 2023 |
| 1 | Sales force DA/FO, DE andย GDS, who have not completedย one year (from date of engagementย of agent) and have not procuredย minimum of 4 policies, the licenseย in this regard to be terminated orย not. | The license of Sales force (DA, FO, DEย and GDS), who have not completed oneย year (from date of engagement as salesย force) and have not procured minimum ofย 4 policies may not be terminated for thatย financial year in which sales force has beenย engaged. However, in the subsequentย financial years, the condition of procuringย 4 policies in a year will be applicable. |
| 2 | If sales force has procured businessย in the month of March and theย total number of policies indeed isย four for the financial year butย some of these policies are acceptedย in the month of April. In thisย scenario whether the code will beย terminated or not. |
The sales force must procure a minimumย of 4 policies in a financial year and the dateย of indexing and acceptance of these 4ย policies should be in the same financialย year only. |
3. This issues with approval of the competent authority.
(Shiv Kumar)
Assistant Director (PLI)
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