KARIMNAGAR, NOVEMBER 29, 2024: The All India LIC Agents Association, Karimnagar district unit members staged a massive dharna on the premises of the LIC Divisional office in Karimnagar town demanding solution to a charter of demands on Friday.
AILIC Agents Association president L Manjunath said that “We strongly protest the clawback clause and request your good self to withdraw this. If the move is not rolled back, agents will be compelled to go on nationwide strike,” The clawback clause allows LIC to recover the agents’ commission if the policyholder surrenders it prematurely after paying the first premium.
He also objected to the reduction in the first-year commission to 28 per cent from 35 per cent following the revision of surrender value norms. Demanding the LIC to continue the old system of providing commission to the agents, he also demanded the government to remove GST on LIC premiums and increase the policy holders to above 55 years.
Extending solidary to the dharna, ICEU Karimnagar division president Rammohan Rao found fault with the LIC management for its unilateral decisions without consulting the agents. He demanded that the management should hold consultations with the agents and resolve the issues. He also stressed on the need for the removal of GST on the premium by exerting pressure on the Union government.
AOI state general secretary Tanneru Kumar, treasurer Kothapalli Ramnarsaiah, Karimnagar division president P Rajababu Reddy, Jagtial branch president Raj Kumar, association leaders Gadasu Srinivas, V Venkateshwarlu, B Tirupati Rao, Tirupati, Mahesh, Kumara Swamy, Mutha Ramesh, Bhumaiah, Sudhakar, Srinivas and others participated. Insurance corporation employees union division leaders Vaman Rao, Surya Kala, Basaveshwar, Anupama Srilatha and others participated in the dharna.
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