LIFE INSURANCE CORPORATION OF INDIA

CENTRAL OFFICE

“Yogakshema”

Jeevan Bima Marg,

MUMBAI – 400 021.

Ref: Mktg/ZD/04/2010 Date: 30.01.2010

TO ALL ZONAL MANAGERS, OFFICERS IN-CHARGE OF DIVISIONS:

Re: Scheme for Aspiring Senior Business Associates.

The Senior Business Associate Scheme was put in place with effect from 1st June, 2009.

Besides providing value added customer support service, another key objective of the

SBA scheme was putting the process control at the disposal of Senior Business Associate,

so that he can leverage it for better customer as well as agency acquisition and improve

upon his own productivity as well as of his agents. Total 511 Development Officers had

enrolled under the Scheme and the concept had gained ground and recognition as well.

Considering the popularity and acceptability of the SBA scheme it has been decided to

create a group of Development Officers, presently working at higher cost ratios, aspiring

to bring down their cost below 3% over a period of time to become eligible to function as

a Senior Business Associate. The purpose of the Aspiring Senior Business Associates

Scheme is to provide help, support and guidance to such Development Officers and to

nourish and nurture their future. The Aspiring Senior Business Associates would keep

their focus in planning their activity to bring down their cost ratio to fulfill the entry

criteria for enrollment to the Senior Business Associate Scheme. The Scheme will be

effective from 01.02.2010.

Eligibility Criteria:

The Development Officers fulfilling following criteria as on 01.02.2010 shall be eligible

to enroll under the Scheme:

(i) Confirmed Development Officers who have completed 3 years of service or more

and are operating at a cost ratio of above 3% upto 10% in the last completed

appraisal year.

(ii) Confirmed Development Officers who have completed less than 3 years service

and are operating at a cost ratio of upto 15% in the last completed appraisal year.

The number of years’ service shall be determined from the date of

commencement of the probationary period.

Selection Process:

A Development Officer falling under any one of the above categories and who is willing

to join the Scheme shall submit an application to the Chief Manager/Sr./Branch Manager

on or before 28.02.2010 as per the format attached as Annexure – A to this circular. On

receipt of the application from the Branch Office with recommendation of

Chief/Sr./Branch Manager, the Manager (Sales) of the Divisional Office shall interview

each Development Officer. While interviewing the Development Officers, the Manager

(Sales) shall take into account the business performance of the Development Officer viz.

growth in business, productivity of agents, strength of his agency organization,

recruitment of new agents etc. and recommend to the Marketing Manager for enrollment.

The Marketing Manager shall approve the list of the aspiring Senior Business Associates.

It may be clarified that Development Officers maintaining their own offices or having a

reasonably large agency organization viz. 50 agents or above shall be given preference in

selection over the others.

For better mentoring and coordination, care should be taken to see that such selected

Aspiring Senior Business Associate is in proportion with 3 to 4 per marketing official of

that Branch.

Supports to be provided to the aspiring Senior Business Associates:

1) The Aspiring Senior Business Associates having office will be privileged to use a

special portal designed for them. Through this portal, they will be empowered with

following non-financial functions:

���� Issue of Policy Status Reports.

���� Issue of Revival quotations.

���� Issue of Surrender Value/Policy Loan quotations.

���� Issue of Certificates to Policyholders for Income Tax purpose.

���� ULIP Statements.

2) A support desk will be created at all the Divisional and Zonal Offices to support the

aspiring Senior Business Associates in their activities and provide requisite inputs.

This can be used for lead generation and passing it to the aspiring Senior Business

Associates as well as monitoring and tracking the lead. The Support Desk can also

provide knowledge inputs viz. sharing the happenings in the financial field.

3) Bi-monthly personal interaction of the aspiring Senior Business Associates with the

Marketing Manager/Sr./Divisional Manager in-charge of the Divisional Office shall

be held to review the actual and planned organizational and business goals,

remedies to overcome the shortfalls etc. Such meeting can also review support level

and realign support desk to cater to the needs of such aspiring Senior Business

Associates.

4) The mail ids of all the aspiring Senior Business Associates will be put on the direct

mail list of Zonal Office and Central Office and they will avail facility of direct

supply of latest circular, product research, product comparison, monthly bulletin

etc. through e mail.

5) Exclusive and Special training sessions shall be arranged for selected agents of

Aspiring Senior Business Associates by the Divisional Office at suitable

STC/External Training Institutes for which detailed instructions would be issued by

the Field Personnel Training Desk of the Marketing Department, Central Office.

6) The aspiring Senior Business Associates shall be given priority in nomination for

training to Zonal Training Centers or External Training Institutes on the panel of

Field Personnel Training Desk of the Marketing Department, Central Office.

Benefits:

1. This group will have special privilege to join the Senior Business Associate Scheme

whenever they become eligible as Senior Business Associates. In other words, there

will not be any waiting period.

2. Relaxation in eligibility condition for joining the Senior Business Associate

Scheme: The aspiring Senior Business Associates will be given concession in the

cost ratio in the First Year (Entry Year) for joining the Senior Business Associate

Scheme and the it shall be as under:

Cost Ratio of aspiring

SBA in preceding

appraisal year

Cost Ratio to be achieved by the

aspiring Senior Business Associates to

join the SBA Scheme in the review

year

3% to 5%. 3.30%

5% to 7%. 3.50%

Above 7%. 4.00%

However, such Senior Business Associate will have to bring down their cost ratio

upto 3% (as per original condition of SBA Scheme) within 2 years from the date of

entry into SBA Scheme.

3. Reimbursement of Basic Computer Training Charges (covering the aspect of MS

Excel, Word, Internet, Emails etc.) upto Rs. 1500/- shall be payable subject to

production of Certificate and Receipts of the course to those Aspiring Senior

Business Associates who are maintaining an Office and utilizing Laptop or

Desktop.

4. Aspiring Senior Business Associates who are maintaining an Office and utilizing

Laptop or Desktop shall be eligible for monthly reimbursement of internet charges

of Rs. 500/-.

5. On nominating more than 3 Agents for recruitment by the Aspiring Senior Business

Associate in a single batch, the training cost will be reimbursed to agents after

passing the IRDA test subject to maximum of Rs. 500/- per agent.

Executive Director (Marketing)

Annexure A

ANNEXURE ‘A’

FORMAT OF APPLICATION FOR ASPIRING SENIOR BUSINESS ASSOCIATE

Affix your recent Passport size

Photograph here

1. Name in full (In English: Capital letters, Surname first)

2. Male/Female: ____________ 2A. Mother tongue: ______________ 3. Mailing address (Please do not repeat name):

PIN No

Telephone Nos. with STD Code: a) Office: __________________ c) Residential: ___________________ b) Mobile No: ______________ d) E-mail id: ________________________ (The Branch/Division Office should verify the correctness of the mail-id by sending a test mail to the applicant.)

5. Date of Birth ________ Age in completed years as on 1.4.2009 _______ yrs. 6. Divisional Office: _______ 7. Branch Name & Code: _________ 8. S.R. No.:_______________ 9. Dev. Officer Code: ____________ 10. Date of Appointment: _________ 11. Date of Confirmation: ___________ 12. Educational Qualification: ________ 13. Technical Qualification: _________

14. Are you keeping Own Office SOLELY for LIC Business: _______

If yes, Full Address of your Office:

PIN No

Whether the premises is Rental/Leased/Own: _______________

15. Details of infrastructure available in your Office (e.g. Internet Connection/ Computers/

Counter/Seating Arrangement etc.): 16. Performance during last 3 years:

No of Club Member Agents-

Appraisal Year

No of Policies

Scheduled First Year Premium (Rs in Lacs)

Cost Ratio %

Total No of Agents

BM DM ZM CM Corporate

No of COT/ TOT Agent

No of New

Agents Recruited

No of EARLY Death Claim

I hereby declare that all statements made in this application are true and correct to the best of my knowledge and belief. I understand that in the event of any information being found false or incorrect or not satisfying the prescribed eligibility criteria for Aspiring Senior Business Associate, my candidature is liable to be cancelled/ rejected at any stage of selection.

Place: Date: (Signature of the Applicant) For Branch use: 1. Details given by the applicant verified. 2. Recommendations of Chief/Sr./Branch Manager:

Signature of Chief/Sr./Branch Manager (with seal)