LIC Club Membership Benefits Review

Review of LIC Club Membership Benefits

LIC Club Membership Benefits 2015 include various benefits available to the Agents who are members of any of the Clubs of the LIC.  We are giving the benefits those, which you will get by becoming a LIC Club Member. Various benefits available to the Club Member of the LIC are Fringe Benefits, Housing Loan Benefits etc,..Complete information about LIC Club Membership such as LIC Club Membership Benefits, Types of Club Membership and Rules to join as LIC Club Member are available below.

LIC Club Membership Types

There are 6 types of Insurance clubs are available in LIC. Various Clubs in Life insurance corporation of India are Branch Manager Club Membership, Distinguished Club Membership, Zonal Manager Club Membership, Divisional Manager Club Membership, Chairman Club Membership and Corporate Club Membership. Detailed information about various Club membership is given below.

Benefits of LIC Club Membership

An Agent can get various benefits under various Club’s of LIC. Detailed information about LIC Club Member ship Benefits as per new rules is given below.

Branch Managers Club:

Various LIC Club Membership Benefits available in Branch Manger Club are

• Office/Stationary Allowance up to Rs.1000 p.a.
• Sale Promotional Gift Items up to Rs.180
• Festival Advance up to Rs. 6,000
• 1st class Traveling Expenses., etc,..

Divisional Manager’s Club:

Various LIC Club Membership benefits available to the Agents by becoming a LIC Divisional Manager’s Club Member are

• Office/Stationary Allowance up to Rs.8500 p.a.
• Festival Advance up to Rs. 7,000
• Sale Promotional Gift Items up to Rs.500
• 1st class Traveling Expenses
• Interest free advance for purchase of Office equipment up to a specified budget, etc,..

Zonal Manager’s Club:

Various LIC Club Membership Benefits available to the agents by joining in Zonal Manager’s Club are

• Sale Promotional Gift Items up to Rs.840
• Office/Stationary Allowance up to Rs.17,000 p.a.
• Festival Advance up to Rs. 7,000
• Housing Loan at 5.25% up to Rs. 3.4 lacs
• Interest free vehicle advance to purchase Car/Scooter/Motor Cycle, etc,..

Chairman’s Club:

Various LIC Club Membership benefits available to the Agents by becoming a LIC Chairman’s Club Member are

• Festival Advance up to Rs. 11,500.
• Office/Stationary Allowance up to Rs.30,000 p.a.
• Sale Promotional Gift Items up to Rs.1,400.
• Housing Loan at 5.25% up to Rs. 3.75 lacs.
• Interest free advance to purchase computer.
• Rs.2,500 out of pocket expenses for annual conventions (outstation), etc,..

Fringe Benefits available under Lic Club Membership Benefits

Fringe Benefits are the main Benefits available to the club Members as LIC Club Membership Benefits. Given below are the Fringe Benefits available under LIC Club Membership Benefits.

S.No	Particulars	C.M	Z.M	D.M	B.M
1	Mode of Travelling (Training)	III Tire A/C	III Tire A/C	III Tire A/C	III Tire A/C
2	Office Allowance	Rs. 35,000	Rs. 22,000	Rs. 12,000	Rs. 1,000
3	Int. Free Vehicle Adv.	Car/upto Rs. 6,00,000/- Motor Cycle	Car/upto Rs. 5,00,000/- Motor Cycle	Motor Cycle	Motor Cycle
4	Telephone / Charges	Rs. 6,000/-	Rs. 4,000/-	Rs. 2,400/-	Rs. 1,800/-
5	Mode of Travelling (Convention)	Economy class Air Fair	I Class / II Tier A.C	I Class	I Class
6	Computer Advance	Yes	No	No	No
7	Out of Pocket Expenses (Convention)	Rs. 3000	Rs. 1100	Rs. 400	Rs. 200
8	Group Term Assurance (Up to 65 years)	Rs. 2,80,000	Rs. 1,40,000	Rs. 70,000	Rs. 40,000
9	Momento in Lieu of Group Insurance (above 65 years age)	Rs. 900	Rs. 450	Rs. 240	Rs. 120
10	Mediclaim	Rs. 1,25,000	Rs. 75,000	Rs. 55,000	Rs. 40,000
11	Yogakshema (House Magazine)	Yes	Yes	No	No
12	Computer Maintainance Allowance	Rs. 6000	No	No	No
13	Additional office Allowance (For less lapsation)	Upto Rs. 10,500	Upto Rs. 6,600	Upto Rs. 3,600	Upto Rs. 300
14	Int. Free advance for purchase of office equipment	Yes	Yes	Yes	Yes
15	Festival Advance	13,000	13,000	13,000	11,000
16	Sales promotional gift items	3,000	2,000	1,000	500
17	Certificate	Yes	Yes	Yes	Yes
18	Badge (on entry only)	Red	Blue	Green	–
19	Letter Heads / Envelops (Number)	1000	750	500	300
20	Visiting Cards (Number)	250	200	150	100
21	Dairies and Calenders	1 T.D., 1 PIC	1 T.D., 1 PIC	1 T.D., 1 PIC	1 T.D.
22	Office Allowance to prospective club members	Yes	No	No	No
23	Daily Allowance (A/B/C City on Tour)	Rs. 800/ 700/600	Rs. 700/ 600/500	Rs. 500/ 375/300	Rs. 375/ 275/225
24	Graded Benefits for High performers	Yes	No	No	No

Housing Loan To Agents

S.NO.	Rates of Interest	C.M.	Z.M.	D.M.
1	5%	Rs. 8,50,000	Rs. 7,45,000	Rs. 6,45,000
2	9.5%	Rs. 9,50,000	Rs. 8,55,000	Rs. 7,55,000

LIC Club Membership Rules

Below table illustrates the rules to join as member in any of the club’s of the LIC.

Name of the club	C.M	Z.M	D.M	B.M
Renewal Commission paid	2,00,000	1,40,000	90,000	50,000
1st Year commission paid	2,00,000	1,40,000	60,000	35,000
Net no of lives for 3 years	130	100	80	50
Min.net no.of lives per year	50	40	30	20

For more details about LIC Club Membership Benefits Please refer LIC Agent Portal.