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Wednesday, December 09, 2015

STAFF REBATE UNDER LIC POLICIES


Sir

LIC employees are given staff rebate of 10% in premium for policies purchased during service period.

This benefit is available only up to the date of retirement.This rebate from date of retirement to date of maturity [if it happens to be during retirement period] of policy is recovered from claim amount.

But in banks & Co-operative banks staff are given 1% extra interest against FD's purchased even after retirement.

When LIC is not paying any commission to agents against staff policies I think this benefit should continue to be paid even after retirement to the employees. 

Employees Unions should take up this matter with management.

With regards
RK CHOPRA
PANCHKULA