Professional Documents
Culture Documents
BONANZA
- GEM FCs
- Non GEM FCs
All FCs
3 Lacs
▪ C2P Life
▪ Sanchay Par Advantage
of Agency Channel ▪ Sanchay Plus
▪ GIIP
▪ Saral Jeevan
▪ PGP
- GEM FCs ▪ C2P Elite
- Non GEM FCs
▪ Guaranteed Pension
Plan
▪ Systematic Pension Plan
▪ Smart Pension Plus
▪ Sampoorna Jeevan
▪ Guaranteed Wealth Plus
▪ Click to Achieve
#Product Credit for ISNP cases; applicable in various programs/schemes will be shared separately
Benefits to GEM FCs
TICKET
Size
25%
on FYFP
Benefit 1 Benefit 2
Benefits to GEM FCs
Minimum FYFP | Online Cases
Credit on FYFP
✓ Guaranteed Pension
✓ Sanchay Par
Plan#
Advantage
Programs ✓ C2P Super ✓ Systematic Pension Plan
✓ Sanchay Plus@ ✓ PGP ✓ PGP
✓ C2P Life ✓ Smart Pension Plus
✓ GIIP Deferred Immediate
✓ C2P Elite ✓ Guaranteed Wealth
✓ Saral Jeevan
Plus*
✓ Sampoorn Jeevan
✓ Click to Achieve
Offline Online Offline Online Offline Online Offline Online
For FCs with < 15 CR FYWRP for FY 24
FYPC / AM Scheme FY 23-24
Contest Start and End Date:
100% 100% 100%* 75%* 100% 75% 75% 30%
01st Apr'23 to 31st Mar'24
For FCs with >= 15 CR FYWRP for FY 24
FYPC / AM Scheme FY 23-24 100% 100% 100% 80% 100% 75% 75% 30%
Contest Start and End Date:
01st Apr'23 to 31st Mar'24
Note: FC to be qualified as “GEM FC” by the end date of the respective *Credit for Guaranteed Wealth #Higher Credit for Pension *Credit for Sanchay Plus (AP wise)
Plus (AP wise) only for FYPC /AM Guaranteed Plan >= 5 L only for FYPC /AM Scheme – Refer
program. Qualification is as per the contours of GEM Program. Scheme – Refer slide No. 8) AP – Refer slide No. 8 slide No. 10)
Applicable To:
Applicable to all FCs of Agency Channel GEM FCs
(Including Micro Market FCs) (Qualified)
Credit on FYFP
✓ Guaranteed Pension
✓ Sanchay Par Advantage Plan
Programs ✓ C2P Super ✓ Sanchay Plus ✓ Systematic Pension Plan
✓ PGP ✓ PGP
✓ C2P Life ✓ GIIP ✓ Smart Pension Plus
Deferred Immediate
✓ C2P Elite ✓ Saral Jeevan ✓ *Guaranteed Wealth
✓ Sampoorn Jeevan Plus
✓ Click to Achieve
Offline Online Offline Online Offline Online Offline Online
Contest: Spectacular
September 100% 50% 100% 50% 100% 75% 100% 30%
Contest Start and End Date:
01st Sep’23 to 30th Sep23
Note: FC to be qualified as “GEM FC” by the end date of the respective program.
Qualification is as per the contours of GEM Program.
Applicable To:
Applicable to all FCs of Agency Channel GEM FCs
(Including Micro Market FCs) (Qualified)
Credit on FYFP
✓ Guaranteed Pension
✓ Sanchay Par Advantage
Plan
Programs ✓ C2P Super ✓ Sanchay Plus
✓ Systematic Pension Plan ✓ PGP ✓ PGP
✓ C2P Life ✓ GIIP
✓ Smart Pension Plus Deferred Immediate
✓ C2P Elite ✓ Saral Jeevan
✓ Guaranteed Wealth Plus
✓ Sampoorn Jeevan
✓ Click to Achieve
Note: FC to be qualified as “GEM FC” by the end date of the respective program.
Qualification is as per the contours of GEM Program.
Applicable To:
Applicable to all FCs of Agency Channel GEM FCs
(Including Micro Market FCs) (Qualified)
Contest: Spectacular
September 100% 50% 100% 50% 100% 75% 100% 30%
Contest Start and End Date:
01st Sep’23 to 30th Sep23
Note: FC to be qualified as “GEM FC” by the end date of the respective program. *Credit for Guaranteed Wealth Plus (AP wise) only for FYPC /AM Scheme – Refer
Qualification is as per the contours of GEM Program. next slide)
Applicable To:
Applicable to all FCs of Agency Channel
(Including Micro Market FCs) Non GEM FCs
Credit on FYFP
✓ Guaranteed Pension
✓ Sanchay Par Advantage Plan
Programs ✓ C2P Super ✓ Sanchay Plus ✓ Systematic Pension Plan
✓ PGP ✓ PGP
✓ C2P Life ✓ GIIP ✓ Smart Pension Plus
Deferred Immediate
✓ C2P Elite ✓ Saral Jeevan ✓ *Guaranteed Wealth
✓ Sampoorn Jeevan Plus
✓ Click to Achieve
Offline Online Offline Online Offline Online Offline Online
▪ FC GEM Qualification status will be checked as per the END date of the respective program/contest (such as HPB, SPC, MDRT, Monthly/Quarterly
contest). No backdated changes in the schemes
FYFP - As the name suggests, FYFP is the first instalment premium received in the first year of the policy. E.g. In case of a policy with annual mode of Rs 25,000, the FYFP is
Rs 25,000. Similarly for a policy with monthly mode of Rs 10,000, the FYFP will be Rs 10,000.
Please note that Service Tax & Education cess component of the premium will be excluded.
FYC - stands for first year collections which is the premium collected after the first installment premium in the subsequent month/quarter/half year (depending upon the
mode) in the first year of the policy. These essentially are the collection of premiums between 2nd to 12th month of any policy as and when received. E.g. In case of a policy
with monthly mode of Rs 10,000, the FYC will be Rs 10,000 for each month where the premium is received from the 2nd to 12th month of the policy.
FYNRP - stands for First Year Net Received Premium. FYNRP is derived by summation of first year first premium (FYFP, which is the first premium instalment received under
any policy*applicable product credit) along with first year collections (FYC, which essentially are collection of premiums due between 2nd and 12th month of any
policy*prevailing product credit) as and when received, less reversals received in the month due to look-in cancellation, withdrawals after conversion and lapsation between 2-
24 months as per the prevailing product credits.
Net Net EPI - Expected premium income defined in terms annualized new business premium with weightage to regular premium as 100% and single premium as 10% less
business reversals due to Look-in Cancellation , Alter from Inception or withdrawal after conversion for the current and previous FY business
PBC stands for Product Business Credits and is derived by summation of first year first premium (FYFP, which is the first premium installment received under any policy *
applicable product credit) along with first year collections (FYC, which essentially are collection of premiums due between 2 nd and 12th month of any policy * prevailing product
credit) as and when received, less reversals received in the month due to look-in cancellation, withdrawals after conversion of any year as per the original product credits.
Important Terms and Conditions:
The terms and conditions mentioned hereinafter refer only to the contests launched by DPPM department which are applicable for FCs of the HDFC Life and
none of the clauses will have any bearing on any other form of variable pay-outs for FCs.
▪ Participation and qualification in contest will be considered as acceptance of terms & conditions defined in presentation and or related communications of
the contest
▪ Policies logged in and converted as per the defined contest dates will only be considered; for converted policies the status in Life Asia should be reflecting
as “IF” (In Force). Login date is same as Life Asia proposal date which corresponds to application submission date in TEBT
▪ Any proposals pending as of start date of the contest, if withdrawn/change in product will be negated from the received premium achievement of that FC
in the contest (except for rate-up, postpone, decline cases)
▪ Product Credits if specified in the contest and or as defined in the product credit document for the respective contest period will be applicable
▪ “Qualifier” is the FC who achieves the laid achievement criteria within the duration of the contest
▪ The rewards/travel (falling in the definition of perquisites) are taxable as per the applicable tax laws and will be borne by the qualifier.
▪ TDS will be booked as per current tax rate. In case of change in TDS Rates at time of fulfillment, new rates will be applicable for final deductions as per
new tax Laws.
▪ In case there are qualifiers who have qualified for travel for a particular destination and travel is not possible at the time of execution,
company reserves the right to give alternate reward of equivalent value
▪ In case an FC has qualified for additional travel tickets, only immediate family members agency associate, agency mentor, business associate are eligible
to accompany the qualifier in the travel. Relationship of traveler with qualifier should be certified by VP or above. Note: Main traveler has to be the
Qualifier.
▪ If the reward is 2/4 wheelers, the Company will bear the cost of the same to the extent of ex-showroom price of the base model in Mumbai. Any other
taxes, charges, etc. will have to be borne by the qualifier only
▪ The FC should not be in terminated status or in enquiry of fraud at time of fulfillment of reward(s); else the rewards will be forfeited. Any incident(s) of
Warning Letter will also lead to forfeiting of reward(s) in case fulfilment is done within 6 months period from date of warning issued.
▪ Advance premium of Monthly policies will not be counted as received premium
▪ Please note that GST, Education Cess & any other applicable tax component of the premium will not be included in the received premium
▪ For contest with reward choices, if an FC does not revert with the choice during the choice period, default reward will be given
▪ For all qualifiers, policies considered for this contest will be checked 90 days post the final result for negations, and achievement will be recalculated.
Rewards will be clawed back / changed as applicable in case the achievement doesn’t meet the contest criteria or the achievement itself changes.
Rewards can be changed basis exception approvals as well, kindly refer to the refreshed list of FR published by BI.
▪ Exceptions to be raised within timelines defined by the Channel / DPPM / BI as applicable, post which none of the exceptions will be entertained
▪ The contest will expire in entirety after 180 days from the start date of the contest with the submission of the final accounts. All claims relating to
achievement shall be put forth to the DPPM(R&R) department within 10 days of the final result declaration. Post the expiry of the contest the company
will not be liable to settle any claim in any manner.
▪ Company reserves the right to claw back the given reward in case of cancellation of any policy considered in the contest on account of look-in, cheque
bounce, customer complaint etc. even after the contest period and or fulfillment
▪ The Company reserves the right to insert, alter or withdraw any clause of the contest or the contest itself without any prior notice. In such an event post
facto notification would be sent to levels at or above L2 levels of respective channel by DPPM (R&R) department
ONLINE
BONANZA
- GEM FCs
- Non GEM FCs