IC Cont

Contests for
All Insurance Consultant / POS-P / ASO Self Code / RP Self Code
Login : 1st Feb 24 to 29th Feb 24 | Issuance : 12th Mar 24

Index
Early Bird Contest
Contest for New ICs (M0 to M6 ICs)
Fabulous February
Monthly Contest
Traditional BALIC MDRT Special Contest

Feb’24 + Mar’24 Contest
Early BALIC COT & BALIC TOT

Exclusive Contest
SISO Contests
Trad SISO Bonanza | NoL & Bullet Payments | MFP Contest
Early Bird Contest
Early Bird Contest for

New IC / New POS-P / New ASO Self Code / New RP Self Code
(New means M0 to M6)

Early Bird Contest
Applicable to - New IC / New POS-P / New ASO Self Code / New RP Self Code (New means M0 to M6)
Rs 5,000
On 1.50 Lac Traditional Rated NB
Product Credits : Traditional RP : 100% | Traditional SP : 10%
Applicable for IC, POS-P, ASO Self code & RP Self code | Terms & conditions applicable
Early Bird Contest
Applicable to - New IC / New POS-P / New ASO Self Code / New RP Self Code (New means M0 to M6)
Important Points:
• These slabs are applicable to New IC / New POS-P / New ASO Self Code / New RP Self Code (New
means M0 to M6) only
• IC will get highest achieved prize in ‘Early Bird Contest’ and ‘Fabulous February Monthly Contest’
• Traditional Plans – PAR, Non PAR, Annuity & Term will be considered for calculation
• For ACE Actual realized premium will be considered i.e. premium derived after discount
• ULIP & Invest Protect Goal product will not be considered for calculation
• Prizes will be deducted from ACC
• SISO Policies will not be considered
Product Credits : Traditional RP : 100% | Traditional SP : 10%
Fabulous February
Contests for

Fabulous February – Slab 1
Rs 4,000
On 2 Lac Traditional Rated NB
Or 4 Lac Total Rated NB
Product Credits :
Traditional RP : 100% | Traditional SP : 10% | ULIP 10 year & above PPT : 100% | ULIP below 10 year PPT : 0%
Rs 16,000
Product Credits :
Rs 30,000
Product Credits :
Fabulous February – Dubai Contest
Dubai – 1 Ticket
Product Credits :
Reimbursement Value Dubai 1 ticket : Rs 50,000
Fabulous February – Summary
Summary
Login Period Target Reward
1st Feb to 29th Feb’24 2 L Trad RNB or 4 L Total RNB Rs 4,000
1st Feb to 20th Feb’24 7 L Trad RNB or 14 L Total RNB Dubai – 1 Ticket
Product Credits :
Reimbursement Value Dubai 1 ticket : Rs 50,000
Fabulous February – Terms & conditions
• Minimum Persistency requirements | 13th Month – 88% | 25th Month – 78%.

• For 13th month Persistency – policies sourced between 1st Apr’22 to 31st Jan’23, Renewed till 31st Mar’24.
• For 25th month Persistency – policies sourced between 1st Apr’21 to 31st Jan’22, Renewed till 31st Mar’24.
• Zero Non accidental early death claims (24 Rolling Month) (Max threshold is 0.2% of NOP sold in last 24 Months).
• Misselling complaints - Zero proven complaints (12 Rolling Month) | Predeceased complaints - Zero proven complaints (12 Rolling Month).
• For ACE Actual realized premium will be considered i.e. premium derived after discount.
• Policies sourced under NPS category will not be considered.
• Prizes earned in ‘Early Bird Contest’, ‘Fabulous February - Monthly Contest’ and SISO Contests will be subtracted from Annual Contest
Correction FY 23-24.
• Xoxoday vouchers will be given in lieu of gift articles, if any.
• This contest is also applicable to ASO-SM & POSP (only POS specific products).
• Premium net off all applicable taxes will be considered for calculations of Rated NB and Counter Premium (Cheque Value)
Fabulous February – Terms & conditions
• Only standard policies will be counted in the competition.

• Standard policy condition for SPG, E – touch & Health care goal:
• Annual mode: counted as standard policy irrespective of any premium provided the policy is logged with Auto pay mode (ECS /
ADI / NACH / e-mandate). However, annual mode policy with premium below 25,000 will not be considered as standard policy if
such policy is logged without Auto-pay mode (ECS / ADI / NACH / e mandate).
• Other than annual mode: counted as standard policy if modal premium (first premium) is min 25,000.
• Standard policy condition for SISO: counted as standard policy if modal premium (first premium) is min 5,000 provided such policy is
logged with Auto-pay mode (ECS / ADI / NACH / e-mandate).
• FYLP will not be considered.
• SISO policies will not be considered in ‘Fabulous February Early Bird Contest’ & ‘Fabulous February Monthly Contest’. There is separate contest
for SISO.
• All applicable taxes will be deducted from the gross benefit or equivalent benefit value, while making the disbursements.
• Cheque dishonor, Freelook cancellations or any other reversal cases will not be considered.
• Premium from the surrender re-login of - 3 /+1 months, will be excluded for the purpose of this contest.
• All other Bajaj Allianz Life standard terms and conditions including quality parameters will be applicable.
• Management reserves the right to modify/alter any conditions/benefits either in full or part at any point of time.
Traditional MDRT Special Contest
Contest for
Login : 3rd Jan 24 to 31st Mar 24 | Issuance : 10th Apr 24

Special Contest - Traditional MDRT by Feb’24
Login : 3rd Jan 24 to 29th Feb 24 | Issuance : 12th Mar 24
Prague – 2 Tickets
(Min 30 Lac Traditional Rated NB in Feb’24
Login: 1st Feb’24 to 29th Feb’24 | Issuance 12th Mar’24)
Contest reward is OVER & ABOVE ACC FY 24
Special Contest – Traditional MDRT JFM’24
Prague – 1 Ticket
(Min 30 Lac Traditional Rated NB in Feb’24 + Mar’24
Login: 1st Feb’24 to 31st Mar’24 | Issuance 10th Apr’24)
Contest reward is OVER & ABOVE ACC FY 24
Contest reward is Reimbursement Value
OVER & ABOVE ACC Rs 1,50,000 Per Ticket
IC has option to opt for reimbursement in lieu of Prague ticket/s.

Traditional MDRT Special Contest – Terms & Conditions
Important Points:
• BALIC MDRT Special Contest is applicable to New IC / New POS-P / New ASO Self Code / New RP Self Code
• IC will get highest achieved prize in ‘Fabulous February Monthly contest’, ‘Early Bird Contest’, ‘BALIC MDRT
Special Contest – Feb’24 + Mar’24’ and ‘BALIC MDRT Special Contest – Feb’24’ contest
• Product Credits : Traditional RP : 100% | Traditional SP : 10%
• Traditional Plans – PAR, Non PAR, Annuity & Term will be considered for calculation
• For ACE Actual realized premium will be considered i.e. premium derived after discount
• ULIP & Invest Protect Goal product will not be considered for calculation
Early BALIC COT & BALIC TOT
Contest for
All Insurance Consultant & POS-P

Early BALIC COT & BALIC TOT Contest
Applicable for IC & POS-P | Terms & conditions applicable

BALIC COT
USA – 1 Ticket
Total Rated NB :
1.20 Crore
Product Credits :
Traditional RP : 100% | Traditional SP : 10% | ULIP RP : 100% | ULIP SP : 10%
BALIC TOT

USA – 1 Ticket +
Rs 2.5 Lac
Total Rated NB :
2.40 Crore
Product Credits :
Traditional RP : 100% | Traditional SP : 10% | ULIP RP : 100% | ULIP SP : 10%
Summary

Club Reward Deduction from ACC FY 24
BALIC COT USA – 1 Ticket Rs 2.50 Lac
BALIC TOT USA – 1 Ticket + 2.5 Lac Rs 5 Lac
Important Points:
• Prize will be deducted from ACC FY 24.

• In case IC achieves BALIC COT or BALIC TOT slab with Traditional RNB then prize amount will not be deducted from ACC
• Reimbursement Value of USA Ticket : Rs 2,50,000
• IC will get highest prize between ‘Early BALIC COT & BALIC TOT’ contest, ‘BALIC MDRT Special Contest – Feb’24 +
Mar’24’ and ‘BALIC MDRT Special Contest – Feb’24’ contest, BALIC MDRT Special Slab – Jan’24 contest
• ‘Early BALIC COT & BALIC TOT’ is over and above ‘Fabulous February Monthly Contest’ and ‘Early Bird Contest’
SISO Contests
Traditional SISO Bonanza Contest for


Traditional SISO Bonanza
Traditional SISO Prize (INR) Prize (INR) Prize (INR)

NoL (Login till 10 Feb 24) (Login till 20 Feb 24) (Login till 29 Feb 24)
2 4,000 3,000 1,000
4 10,000 7,500 5,000
6 18,000 12,000 9,000
10 50,000 35,000 25,000
TRAD SISO : ACE SISO, FIG SISO, GPG SISO, AWG SISO
Fabulous February Traditional SISO Bonanza is Over & Above SISO NOL Payment & Bullet payment Contest
Traditional SISO Bonanza – Terms & Conditions
Terms & Conditions

• Persistency criteria as per Aug’24 Monthly Contest | Result will be declared on 31st Oct’24
• Minimum monthly premium for products FIG SISO & AWG SISO is 5000/-
• Minimum monthly premium for product GPG is 6000/- | Minimum monthly premium for product ACE SISO is 4,800/-
• Splitting of policies is not allowed.
• Policies with E-mandate will only be counted. Non E-mandate policies will get zero credit
• Policies counted in SISO will not be counted in Monthly contest
• Only active policies (no lapsed) will be considered for final Calculation
• Prizes earned in SISO contest will be subtracted from Annual Contest Correction FY’24
• Cheque dishonor, Freelook cancellations or any other reversal cases will not be considered
• Premium from the surrender re-login of - 3 /+1 months, will be excluded for the purpose of this contest
• All other Bajaj Allianz Life standard terms and conditions including quality parameters will be applicable
• Management reserves the right to modify/alter any conditions/benefits either in full or part at any point of time
SISO Contests
NoL Payments & Bullet Payments Contest for


SISO Contest – February 2024
3 Stage Benefits – NoL Based Payments
01 02 03
NOL Bullet Bullet
Benefit Payment 1 Payment 2
Prize amount Payment on Payment on

is paid 3 times total premium total premium
IC gets NOL adjusted in adjusted in
benefits for 3 first 6 months first 12
months (M1, i.e. at the end months i.e. at
M3, M9) of Aug’24 the end of
Feb’25
• Minimum monthly premium for products ULIP SISO,, FIG SISO & AWG SISO is 5000/-
• Minimum monthly premium for product GPG is 6000/-
• Minimum monthly premium for product ACE SISO is 4,800/-
• SISO Policies of Magnum Fortune Plus will not be considered
SISO Contest – February 2024 – NoL Benefits
NOL Benefits – Traditional SISO & ULIP SISO
Prize Amount (INR)
NoL
Feb’24 Apr’24 Oct’24
2 400 400 400
3 800 800 800
4 1,200 1,200 1,200
5 1,500 1,500 1,500
7 2,800 2,800 2,800
10 5,000 5,000 5,000
Rs. 1500/- on each NOL from 11th NOL onwards (in 3 tranches of Rs. 500/-)
• For NOL Benefit Calculation ULIP SISO + Traditional SISO policies will be considered.
• Policies counted in SISO will not be counted in Monthly contest.
• SISO Policies of Magnum Fortune Plus will not be considered.
• Persistency criteria as applicable as per respective month’s contest i.e. Feb’24, Apr’24
& OCt’24.
SISO Contest – February 2024 – Bullet Payment
Bullet Payment 1 - All SISO Policies
Total Received Premium (Cheque Prize Amount

Value) 31st Aug 24 (INR)
50,000 500
1,00,000 1,000
2,00,000 2,500
4,00,000 6,000
7,50,000 12,750
10,00,000 20,000
20,00,000 50,000
50,00,000 1,50,000
• Only active policies (no lapsed) will be considered for this benefit
• Persistency criteria : Bullet Payment 1 - as per Aug’24 contest | Bullet Payment 2 - as per Feb’25 contest
• Bullet Payment 1 will be subtracted from Bullet Payment 2
SISO Contest – February 2024 – Bullet Payment
Bullet Payment 2 - All SISO Policies
Total Received Premium (Cheque Prize Amount

Value) 28th Feb 25 (INR)
1,00,000 1,250
2,00,000 2,600
4,00,000 6,500
8,00,000 14,000
15,00,000 30,000
20,00,000 51,000
40,00,000 1,10,000
1,00,00,000 3,25,000
• Only active policies (no lapsed) will be considered for this benefit
• Persistency criteria : Bullet Payment 1 - as per Aug’24 contest | Bullet Payment 2 - as per Feb’25 contest
• Bullet Payment 1 will be subtracted from Bullet Payment 2
SISO Contest – February 2024 – Terms & Conditions

• Policies with E-mandate will only be counted. Non E-mandate policies will get zero credit.
• Policies counted in SISO will not be counted in Monthly contest.
• Only active policies (no lapsed) will be considered for NOL benefit and Bullet Payment.
• Persistency criteria :
• NOL Benefit: as per Feb’24 Monthly Contest.
• Bullet Payment 1: as per Aug’24 Monthly Contest.
• Bullet Payment 2 : as per Feb’25 Monthly Contest.
• Prizes earned in SISO contest will be subtracted from Annual Contest Correction.
• Cheque dishonor, Freelook cancellations or any other reversal cases will not be considered.
• Premium from the surrender re-login of - 3 /+1 months, will be excluded for the purpose of this contest.
• All other Bajaj Allianz Life standard terms and conditions including quality parameters will be applicable.
• Management reserves the right to modify/alter any conditions/benefits either in full or part at any point of time.
SISO Contests
Super 30 Contest – MFP SISO for


Super 30 Contest – MFP SISO
NOL Payments Yearly Payments

(within 1st year) (for 5 years)
• NOL Payment 1 - Feb’24 • Year 1 Payment - Feb’25

• NOL Payment 2 - Apr’24 • Year 2 Payment - Feb’26
• NOL Payment 3 - Oct’24 • Year 3 Payment - Feb’27
• Year 4 Payment - Feb’28
• Year 5 Payment - Feb’29
IC will get benefits from both NoL Payments & Yearly Payments on Magnum Fortune Plus
NOL Payments
MFP SISO NOL count Prize Amount (INR)

in contest period Feb’24 Apr’24 Oct’24
2 400 400 400
3 800 800 800
4 1,200 1,200 1,200
5 1,500 1,500 1,500
7 2,800 2,800 2,800
10 5,000 5,000 5,000
15 7,500 7,500 7,500
20 10,000 10,000 10,000
30 20,000 20,000 20,000
Rs. 2,000/- on each NOL from 31st NOL onwards (in 3 tranches)
Yearly Payments (for 5 Years)
Year 3 Year 4 Year 5

Year 1 Year 2
0.3% 0.6% 0.9% 1.2% 1.5%
Contest Prize Rate (on the 1st year annualized premium)
Payment Schedule
Yearly Payment
(on the 1st year Annualised Payment Cycle
premium in Year 1)
Year 1 Feb 2025

Year 2 Feb 2026
Year 3 Feb 2027
Year 4 Feb 2028
Year 5 Feb 2029
Super 30 Contest – MFP SISO – Terms & Conditions
• Splitting of policies is not allowed

• Policies with E-mandate will only be counted. Non E-mandate policies will get zero credit
• Policies counted in Magnum Fortune Plus –Super 30 contest will not be counted in Monthly contest or any other SISO contest
• Only active policies (no lapsed) will be considered for NOL benefit and Bullet Payment
• Contest prize is accrued and paid only if IC is Active at the time of payment
• Minimum Persistency requirements | 13th Month – 88% | 25th Month – 78%
• For 13th month Persistency – policies sourced between 1st Apr’22 to 31st Jan’23, Renewed till 31st Mar’24
• For 25th month Persistency – policies sourced between 1st Apr’21 to 31st Jan’22, Renewed till 31st Mar’24
• The yearly payments are deducted from Annual Contest Correction or other equivalent scheme for the respective year
• Contest is applicable for IC, ASO self code, RP self code & ASIM
• Persistency benchmark declared periodically for IC contest. The persistency norm as applicable for respective month’s IC
contest remains applicable for the NOL payment & Yearly Payments.
• Cheque dishonor, Freelook cancellations or any other reversal cases will not be considered
• Premium from the surrender re-login of - 3 /+1 months, will be excluded for the purpose of this contest
• All other Bajaj Allianz Life standard terms and conditions including quality parameters will be applicable
• Management reserves the right to modify/alter any conditions/benefits either in full or part at any point of time
Fabulous February – Important Dates
Activity Timeline
Last Date of Login 29-Feb-24
Last Date of Issuance 12-Mar-24
Last Date of Persistency 31-Mar-24
Result Declaration Date 12-Apr-24
Last Date of Representation 19-Apr-24
Cash Prize Payment Date 29-Apr-24

IC Cont

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

IC Cont

Uploaded by

Copyright:

Available Formats

Contests for

All Insurance Consultant / POS-P / ASO Self Code / RP Self Code

Login : 1st Feb 24 to 29th Feb 24 | Issuance : 12th Mar 24

Traditional BALIC MDRT Special Contest

Early BALIC COT & BALIC TOT

Early Bird Contest for

Login : 1st Feb 24 to 15th Feb 24 | Issuance : 12th Mar 24

Product Credits : Traditional RP : 100% | Traditional SP : 10%

Product Credits : Traditional RP : 100% | Traditional SP : 10%

Login : 1st Feb 24 to 29th Feb 24 | Issuance : 12th Mar 24

Login : 1st Feb 24 to 20th Feb 24 | Issuance : 12th Mar 24

Reimbursement Value Dubai 1 ticket : Rs 50,000

1st Feb to 29th Feb’24 2 L Trad RNB or 4 L Total RNB Rs 4,000

1st Feb to 29th Feb’24 4 L Trad RNB or 8 L Total RNB Rs 16,000

1st Feb to 29th Feb’24 6 L Trad RNB or 12 L Total RNB Rs 30,000

Reimbursement Value Dubai 1 ticket : Rs 50,000

• Minimum Persistency requirements | 13th Month – 88% | 25th Month – 78%.

• Only standard policies will be counted in the competition.

Login : 3rd Jan 24 to 31st Mar 24 | Issuance : 10th Apr 24

Contest reward is OVER & ABOVE ACC FY 24

Contest reward is OVER & ABOVE ACC FY 24

IC has option to opt for reimbursement in lieu of Prague ticket/s.

Login : 3rd Jan 24 to 31st Mar 24 | Issuance : 10th Apr 24

Applicable for IC & POS-P | Terms & conditions applicable

Applicable for IC & POS-P | Terms & conditions applicable

Applicable for IC & POS-P | Terms & conditions applicable

BALIC COT USA – 1 Ticket Rs 2.50 Lac

BALIC TOT USA – 1 Ticket + 2.5 Lac Rs 5 Lac

• Prize will be deducted from ACC FY 24.

Traditional SISO Bonanza Contest for

Login : 1st Feb 24 to 29th Feb 24 | Issuance : 12th Mar 24

Traditional SISO Prize (INR) Prize (INR) Prize (INR)

2 4,000 3,000 1,000

4 10,000 7,500 5,000

6 18,000 12,000 9,000

10 50,000 35,000 25,000

Terms & Conditions

NoL Payments & Bullet Payments Contest for

Login : 1st Feb 24 to 29th Feb 24 | Issuance : 12th Mar 24

Prize amount Payment on Payment on

Bullet Payment 1 - All SISO Policies

Total Received Premium (Cheque Prize Amount

Bullet Payment 2 - All SISO Policies

Total Received Premium (Cheque Prize Amount

• Splitting of policies is not allowed.

Super 30 Contest – MFP SISO for

Login : 1st Feb 24 to 29th Feb 24 | Issuance : 12th Mar 24

NOL Payments Yearly Payments

• NOL Payment 1 - Feb’24 • Year 1 Payment - Feb’25

MFP SISO NOL count Prize Amount (INR)

Yearly Payments (for 5 Years)

Year 3 Year 4 Year 5

0.3% 0.6% 0.9% 1.2% 1.5%

Contest Prize Rate (on the 1st year annualized premium)

Year 1 Feb 2025

• Splitting of policies is not allowed

You might also like