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Jeevan Bima Marg,
MUMBAI – 400 021.

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


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

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.


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 Cost Ratio to be achieved by the

SBA in preceding aspiring Senior Business Associates to
appraisal year join the SBA Scheme in the review
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

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


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):


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:


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:

Appraisal No of Scheduled Cost Total No of Club Member No of No of No of

Year Policies First Year Ratio No of Agents- COT/ New EARLY
Premium % Agent BM DM ZM CM Corporate TOT Agents Death
(Rs in Lacs) s Agent Recruited 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.

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)