THINGS TO DO BEFORE MARCH 31st, 2023 - Insurance - Income TAX - 2022-2023 year Benefits

 

LIC job - LIC career - LIC Recruitment of Development Officers - 2023

 Recruitment of Development Officers from Agency Category 

Do you have any of your agent team members eligible for Development Officer recruitment under the agency category?? If they satisfy the eligibility criteria encourage them to apply

Eligibility under Agency Category as on 1/1/2023

1. Must be appointed as an agent under LIC of India (Agents) Regulations 2017.

2. Educational  Qualification - Bachelor's Degree from a recognized University in India

3. Age- 21 yrs to 40 yrs Gen/upto 43 yrs OBC/upto 45 yrs SC or ST

4. Experience

Urban - Not less than 5 years n bought in a Net First Year Premium Income of not less than 5 lacs during the immediately preceding 5 FY & a Net FYPI of not less than Rs 1 lac on 50 lives in any 3 of this financial years.

Rural -Not less than 4 years as LIC agent and brought in a Net FYPI of not less than Rs 1 lac on 50 lives per year in any 3 of immediately preceding 4 financial years.

Note- Net FYPI means the amount of premium brought by the agent towards new business including FYRP during the relevant number of immediately preceding FY as reduced by the amount of Premium that has lapsed out of such FYP reckoned with reference to the date of application for recruitment.

For further details pl check the notification. Last date for applying is 10/2/2023.The online mode only.

LIC policy surrender value

Surrender Value: 

Policy condition states that if policy premium is not paid within the grace period, the policy lapses. If a policy holder wants to discontinue within 3 years from date of commencement, no refund would be paid. 

If the policy premium is paid for full 3 years then only after completion of 3rd i.e from 4th year beginning only , policy loan would be available. Surrender value or cash value is made available generally when the policy has remained in force for at least three years. 

Documents to be submitted for surrender of policy: 

1. Policy bond
2. Surrender forms duly stamped, signed and witnessed
3. Id proof like PAN or Aadhaar card copy
4. Cancelled cheque leaf (name should be printed) or Photocopy of the Bank passbook containing details of Bank Account number, IFSC and MICR