Center gave good news for LIC workers and agents

Good news for agents of Life Insurance Corporation of India (LIC). Henceforth LIC agents and employees will get the benefit of increased gratuity limit. Apart from this, you will also get benefits of term insurance cover and family pension.

This big announcement was made by the Narendra Modi government yesterday i.e. Monday. Besides, the government has approved many welfare schemes for LIC agents and employees. The government has also increased the eligibility criteria for renewable commissions besides introducing new rules related to LIC agents gratuity, pension and term insurance cover. For this, the government has amended the LIC (Agents) Regulation-2017.

As a result of this move by the government, 13 lakh agents and 10 lakh employees of LIC will benefit. Agents and employees had to work hard to make LIC the largest insurance company in the country, a Finance Ministry release said on Monday. The gratuity limit for LIC agents has been increased from Rs 3 lakh to Rs 5 lakh. Agents who are redeployed to LIC will get the benefit of renewable commission.

On the other hand, term insurance cover for LIC employees and agents has been increased from Rs 3,000 to Rs 10,000 earlier. Now it has been increased from Tk 25 thousand to Tk 1.5 lakh. Now everyone will be given family pension at the rate of 30 percent.

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