Re: Incentive scheme for Agents/TSE (Gr-II)/POSP, SM/ADM, BM/TM/AM and ZM/RH
from 01st Jan 2025to 31st Mar 2025 – RO 15
Agents/TSE(Gr-II):
Retail fresh premium in Rs. Reward
75000-100000 3000 ( only coded after 01-04-2024 and AOR)
100001-150000 4500
150001-200000 7500
200001-250000 12000
250001-350000 Trip to Shimla/Kufri ( 2 N) ) Or 15000
350001-450000 Trip to Jaipur/Jaisalmer Or 20000
450001-500000 Trip to Asian Country(2 N- 3D) )Or 40000
500001-600000 Trip to Asian Country (2 N- 3D) Or 40000 + 10000 cash
600001-700000 Trip to Asian Country (2 N- 3D)Or 40000 + 20000 cash
700001 – 999999 2 Person Trip to Asian Country(2 N- 3D) Or 80000
On every additional 1 Lac Fresh
Additional Rs.10,000/-
Premium over 7,00,000 Lacs
Terms & Conditions:
1. Only retail Health policies of S.I 10 lakh and above will be considered.
2. Other Company Renewal policies with 10 lakh and above S.I will be considered.
3. GMC/GPA policies will not be considered.
4. 25 Lakh and above sum insured P.A policy only will be considered.
5. LTP 10 Lakh and above S.I will be Counted 110% credit will be given.
6. Business will be accounted only 1st Jan’2025 to 31st March’2025 ‘ RID basis (Risk
Inception Date)
7. For policies with instalment facility, premium actually collected during the contest
period only will be considered.
8. Payment of rewards/incentives are strictly subject to deduction of applicable tax
at source.
9. The Management reserves the right to modify / Alter any of the provisions of
the scheme.
SM/SSM/ADM/TSE:
Vintage( till 31st Dec2024) Target Rewards
3 Lacs ( with 10 agent
0 to 1 Year TRIP TO SHIMLA OR 7500 RS
recruitment)
6 Lacs or 35% Growth on LY TRIP TO JAIPUR/JAISALMER
Fresh Base Whichever is OR 12500 RS
1 to 2 Year higher
8 Lacs or 30 % Growth on TRIP TO JAIPUR/JAISALMER
LY Fresh Base whichever is OR 18000 RS.
2 to 4 Year higher
10 Lacs or 25 % Growth on TRIP TO Asian Destination OR
LY Fresh Base whichever is 25000
4 to 7 Year higher
TRIP TO Asian Destination OR
40000
Less than 15 lac base 35%
Growth whichever is higher
15-20 lacs base 30% growth
whichever is higher
20-25 Lacs Base 27.5%
Growth whichever is higher
25- 30 lacs Base 25% Growth
7 Year and Above
whichever is higher
30- 40 Lacs Base 22.5%
Growth whichever is higher
40- 50 Lacs Base 17.5%
growth whichever is higher
50 lacs and above 12.5%
Growth whichever is higher
Terms and Conditions:
1. Only retail Health policies of S.I 10 lakh and above will be considered.
2. Other Company Renewal policies with 10 lakh and above S.I will be considered.
3. GMC/GPA policies will not be considered.
4. 25 Lakh and above sum insured P.A policy only will be considered.
5. LTP 10 Lakh and above S.I will be Counted and 110% credit will be given.
6. Business will be accounted only 1st Jan’2025 to 31st March’2025 ‘ RID basis (Risk Inception Date)
7. For policies with instalment facility, premium actually collected during the contest period
only will be considered.
8. Payment of rewards/incentives are strictly subject to deduction of applicable tax at source.
9. The Management reserves the right to modify / Alter any of the provisions of the
scheme.
10. 95% of renewal retention on premium for qualifying the contest is the gate criteria
BM/AM/ZM:
BM
Target Rewards
100% Fresh Target Ach Rs. 30000
105% Fresh Target Ach Rs. 50000
110% Fresh Target Ach Rs.75000
Subject to 100% Target of Total
Minimum 15Lac Fresh Premium for Rural Branch
ATM/TM/AM/SAM
Target Rewards
Rs. 50000
100% Fresh Target Ach
10000 On every additional 5% Growth
Subject to 100% Target of Total
Terms & Conditions:
1. GMC/GPA policies will not be considered.
2. 25 Lakh and above sum insured P.A policy only will be considered.
3. Any policy less than 10lacs will have 50% weightage.
4. SM’s to meet their basic growth criteria for the month as per incentive slab on fresh premium
5. SM’s should also do a minimum of 90% NOP renewal retention- else 50% of incentive will be
given.
6. Portability policies with 10 lakh and above sum insured will only be considered.
7. Any policy less than 10lacs will have 50% weightage
8. Business will be accounted only JFM'24 RCD basis (Risk Inception Date).
9. On EMI policies, only EMI Premium received during the contest period will be considered.
10. Payment of rewards/incentives are strictly subject to deduction of applicable tax at source.
11. The Management reserves the right to modify / Alter any of the provisions of the scheme.
Marketing Department
