RPLI COMMISSION TO BPMS

On enquiry, it is learnt that in almost all the circles, the GDS and SPMs are paid incentive for the RPLI only with the old rate (i.e) R.s 2.50 per one thousand of sum assured and 1% of renewal premium income. The incentive rate has been revised with effective from 1 October 2009 vide Dte. letter No. 26-2/2009-LI dt. 18.9.2009 and the procedure has been simplified based on the assurance given in the PLI Directorate Meeting held on 1.10.2007 with our union which is reproduced hereunder for the consumption of our Divisional Secretaries.

“General Secretary of the Staff Union (P3/NFPE) urged that there is need for simplification of procedure for verification of the incentive bills for RPLI. CGM PLI Director appreciated the point and assured to look in to the issue.”

Accordingly the procedure has been simplified and software has been developed and provided to all divisions for generating incentive sanction automatically without preferring any bill for which the only pre-requisite is allotment of Agent’s code to all GDS & Departmental employees. All Circle heads were again reminded on 6.10.2010 to provide agent’s code.

As per the new rates, incentives shall to paid at the rate of 10% at the first year premium income and 2.5% subsequent years premium income. There is no need to wait for 12 months. Payment of incentive shall be generated automatically by the Divisional heads every month.

All are requested to confirm whether the agents code has been provided to all SPM/GDS for automatic payment of incentive by the Divisional head. If not, please compel them to complete the process and generate payment of incentive automatically every month. There is no need for preparing bills and verification of the same. Please intimate the position of your circle.