Agency PMS FY21 – Q3 FY21

Agent Advisors

Oct’20
1a AWS Travel Re-imbursement

Behavioral AWS Travel Reimbursement

Applicable to
Expectations eligibility

M0-M4 Agents Rs. 10,000

8 training sessions
and
Active Engagement
M5+ Agents Rs. 5,000

Note
A) 8 days of training should include – 4 BCS/ICS/ACS/SSW sessions and other sessions by MLD.
B) Agents will have to file for re-imbursement of up to Rs. 10,000/- basis their actual spend and eligibility to deliver the behavioural
expectations. This should be in line with the travel policy for agents.
C) Further, agent needs to be actively engaged during the given month. Actively engaged agent is defined as the one with MTD 1 lakh WFYP.

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1b Digital Sales Bonus (DSB)

Bonus for agents

MTD Business (WFYP)
M0-M4 Agents All other agents

75 k Rs. 5,000 Rs. 2,500

2 lakhs Rs. 5,000

Note
A) Agents need to complete 8 days of training including 4 BCS/ICS/ACS/SSW sessions and other
sessions on by MLD.
B) Provisions of Income Tax and GST will also be applicable under relevant sections
C) Agents will be able to qualify for Digital Sales Bonus at base slab of 75k only if they have not
qualified for AWS Travel Re-imbursement

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2 Agent Case Rate Bonus Scheme (Monthly)

# NOPs in the
Fixed Payout (Rs.)
month
<3 Nil
3 1500
4 2000
5 & above 2500

Note:
• Provisions of Income Tax and GST will also be applicable under relevant sections

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3 Performance Linked Bonus - Quarterly
M4 onwards
% of FYC
Weighted FYP*
Non-CEIP FYC CEIP FYC
6,00,000 – 11,99,999 15% 18%
12,00,000 – 19,99,999 30% 36%
20,00,000 – 29,99,999 55% 66%
30,00,000 – 39,99,999 65% 78%
40,00,000 – 49,99,999 75% 90%
50,00,000+ 85% 100%
* WFYP is defined as collected premium with specific product weightages as defined by company from time to time

Minima -13th
Month Persistency
>= 86%
Note:
• FYC from CEIP business will be paid at a higher slab to adjust for the CEIP deduction in base FYC
• Provisions of Income Tax and GST will also be applicable under relevant sections

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4 Agent STAR Program

Description L1 L2 L3 L4 L5 L6 L7
FYC (‘000s) OR 60 90 175 275 600 1500 2500
WFYP (‘000s) 360 540 1200 1650 3600 9000 15000 Level 3 WFYP
Criteria
Paid cases # 9 12 12 24 24 24 24 target to be
Persistency 85% 85% 85% 87.5% 87.5% 87.5% 90% revised from
A. Segment FYC (% of net earned FYC - monthly) 25% 35% 35% 42.5% 42.5% 42.5% 42.5%
B. Promotion / Retention Bonus -- -- -- -- 25,000 1,00,000 1,50,000 10.5 L to 12 L
C. Revenue Welcome Kit Y Y Y Y Y Y Y for Dec’20
Enablers MBK non-travel credit -- -- -- -- Y Y Y onwards
Training -- -- -- -- Special Special Special
D. Business Personal Profiler -- -- -- Y Y Y Y promotions
Enablers Personalized eMktg. Collateral -- -- -- Y Y Y Y
Group Insurance
Up to Age 59 Yrs 50 500 1000 4000 6000 8000 10000
E. Social
60 to 64 Yrs 50 500 500 500 500 500 500
Enablers
Accidental Cover 200 200 200 200 200 200 200
Social Security Plan -- -- Y Y Y Y Y
F. Support Service Support On Going

Note:
• Weighted FYP is defined as collected premium with specific product weightages as defined by company from time to time
• Promotion to STAR level will continue to happen on quarterly basis. For new agents, monthly promotion continue to be
applicable during M1 to M6 (only once in lifetime).
• Agents will continue to retain their STAR level for 6 months. Evaluation for demotion will continue to happen at quarter ends.
• Provisions of Income Tax and GST will also be applicable under relevant sections

For detailed description, please refer to STAR communication 6

5 ‘9 in 90’ Payout for Agents - Monthly

Time line (Agent

Scheme Name Criteria Payout (Rs)
Vintage)

9 Cases & 60K base FYC & 2

9 in 90 By end of M3 7,500
SSW training

Note:
• Payout will happen at end of M3
• Provisions of Income Tax and GST will be applicable under relevant sections

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Agent MPS FY21 is proposed to be annual instead of half yearly (100k WFYP or 3
NOPs or 20k RYC)

For New Business Policy Criteria Remarks

 Sale of at least 3 (three) insurance policies in 12 months (specified

period)  MPS will not be applicable
Or till M6
Full Year FY21
 WFYP of 1,00,000/- in 12 months (specified period)  MPS will be executed at
(1stApr – 31st Mar)
Or end of Mar basis full year
 Renewal income earnings of 20,000/- (Renewal Year Commission) in 12 performance
months (specified period)

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Thank You