LIC agents in the State will go on a one-day strike on Friday against industry reforms ‘that affect not just them but also policyholders.’

Kerala LIC Agents’ Organisation of India and All-India LIC Agents’ Federation will observe strike to provide moral support to the industry strike on February 20 and 21, said P.G. Dileep and K. Ramachandran, conveners, LIC Agents Coordination Committee.

Trade union leaders will address a sit-in in front of LIC branches in the State. Agents will not transact any business on Friday.

Agents are demanding withdrawal of the Insurance Bill and the move for hike in foreign direct investment in insurance sector. Service charge on policy and commission should be scrapped and packaged as bonus to policyholders instead.

INTEREST CUT

Agents also demand reduction in interest on policy loans and reinstatement of cash mode for payment of interest and loan. Direct marketing concept should be dispensed with as also direct sales executives. Bankers should not be allowed to become brokers.

Agents have also demanded a raise in gratuity and cancellation of amendments to Agents’ Regulation, 1972. Dileep and Ramachandran appealed to all agents to participate in the strike called to ‘protect the interests of policyholders and LIC at large.’

vinson.kurian@thehindu.co.in

(This article was published on February 7, 2013)
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