SBU-CLIA DEPTT.

, CENTRAL OFFICE, ‘YOGAKSHEMA’, JEEVAN BIMA MARG,

MUMBAI – 400 021, TEL: 22855980,66598094. e-mail:co_clia@licindia.com

Ref:CO/CLIA/ZD/34/2009 21.10.2009

All Zonal Managers,

All Sr.Divisional Managers,
All Chief/Sr/Branch Managers of Branches

Re: Latest update on “Premium Point” by Empowered Agents

This is further to Central Office Circular ref:CO/CLIA/ZD/24/2009 dated

04.06.2009. The following modifications have been brought about in the procedure for
collection and remittance through premium points.

(1) Merit list of top 25 empowered agents on policies & premium collected,
Ranking list of Divisions on number of empowered agents, number of policies
and amount collected and Zonal summary is displayed on CLIA site on Jeevan
Sanchar every month. Please go through it to find how the new initiative of the
Corporation is becoming increasingly popular.

(2) Jeevan Sanchar site has, in addition to the updated list of empowered agents, list
of invoices and transactions pending for more than 4 days. The list is updated on
a daily basis. Manager (CLIA) of the Division and the Branch Manager of the
respective branch should monitor the list every day.

(3) For cancellation of transactions and invoices of empowered agents, please follow
circular number CO/IT/PCBA/0910/01 dated 10.08.2009.

(4) For issues related to non-updation of FUP of policies, where premiums were
collected by Empowered Agents, please send your queries to PCMC Cell, CRM
Deptt., Central Office, to bo_cbk1@licindia.com. They can also be contacted on
phone on 022-67819479.

(5) The empowered agents should remit the collection in LIC office within 48 hours
from the time of issuance of 1st receipt. Password will be disabled if the invoice
is deposited late.

(6) In case there are system/network related problems in a particular Branch,

invoices can be paid in any LIC branch irrespective of the Branch chosen at the
time of generation of invoice. Axis Bank accepts only cash (not cheques) and if
the invoice amount is less than Rs.50,000/-. If cash is to be remitted to Axis
Bank, the invoice has to be generated for Axis Bank and not LIC. Before
generating invoice for Axis Bank, it is advisable to check from the chosen branch
 of Axis bank if they have the necessary software for collection of the invoice
amount.

(7) A Transaction Fee of Rs.10/- per i-proposal will be paid to the empowered agent
on completion of such a policy.

(8) Transaction Fee cycle is from 21st to 20th of next month. It is automatically paid
in every renewal commission bill. The empowered agent should check the
summary page of the bill.

(9) Outstation cheques should not be collected through premium point. Definition of
outstation cheque will be with respect to the Branch where the invoice is
remitted.

(10) The cashier should collect the invoice of the empowered agents only using option
16 of the Cash Module and should enter correct invoice id and merchant id of the
empowered agents while the collecting the amount. Cashiers should not issue
individual (policy- wise) receipts and only one consolidated receipt per invoice
should be issued.

(11) At present, the waiver of late fee in case of holiday on last date of the grace
period is not possible if the premium is paid in the office of the empowered agent.

(12) Internet Bandwidth of the merchant portal server has been doubled from 8 MBPs
to 16 MBPs resulting in faster and accurate updation of invoices and
transactions.

(13) Authorisation to collect premium through the Merchant Portal is sent to the
Empowered Agents directly by CLIA Deptt, Central Office. They have been
advised to submit a signed copy to the Branch, which is to be filed in the Agency
Docket.

(14) The names and phone numbers of empowered agents should be prominently
displayed in the branch, preferably near the cash counter.

(15) Glow sign boards are to be supplied to the empowered agents by the
Zone/Division and are to be displayed by the Empowered Agents.

Kindly bring it to the notice of all concerned.

Executive Director (CLIA)