The Hindu Business Line : LIC agents list demands

THIRUVANANTHAPURAM: The first meeting of the working committee of the LIC Agents' Association of India, held in Kolkata on July 10-11, has placed a list of demands before the Centre, according to Mr P.G. Dileep, General Secretary.

The meeting resolved to demand immediate introduction of a welfare fund, pension facilities, contributory provident fund, enhanced gratuity and withdrawal of `the 15 per cent lapsation' criterion. The minimum sum assured should be limited to Rs 10,000, which will encourage the rural poor and the needy to earn insurance benefits.

The association demanded that doctors, lawyers and other professionals, apart from spouses of employees of Central, State and PSU undertakings should not be granted agent status. It also demanded the scrapping of the Insurance Regulatory and Development Authority (IRDA) and the creation of an All-India Agents' Welfare Fund from the commission of Rs 40 lakh forfeited from terminated agents.

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