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Home » Lic Agent » LIC Club Membership Benefits Review

LIC Club Membership Benefits Review

April 1, 2016 By onlinelic

Contents

  • 1 Review of LIC Club Membership Benefits
  • 2 LIC Club Membership Types
  • 3 Benefits of LIC Club Membership
  • 4 Fringe Benefits available under Lic Club Membership Benefits
  • 5 Housing Loan To Agents
  • 6 LIC Club Membership Rules

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.

 

Filed Under: Lic Agent Tagged With: lic agent portal, lic club membership criteria, lic club membership eligibility, lic club membership rules

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