IMPHAL, March 17: The Life Insurance Agents`™ Association, Imphal has launched its hunger strike agitation demanding the central government to restore the Sec 44 (ERC&HRC) Insurance Act of 1938.
The Life Insurance Agent`™s Federation of India, along with all the branches of the company will continue its protest starting today and will continue till March 21.
The hunger strike protest was held today at Khoyathong outside the LIC, head office.
Speaking at the sideline with the media persons, Kh Achou, vice president, LIAA, Imphal branch stated that restoration of Section 44 (ERC&HRC) Insurance Act of 1938 is a must.
He further noted that if the Act 1938 is not restore then the agents who had already work for more than 5 years may not get any renewal commission and other benefit.
He continued that even the nominee would not get any hereditary Renewal Commission if the Act 1938 did not restore.
Kh Achou said that the hunger strike for all India Insurance Agents will continue till March 21 and LIAA, Imphal will carry out its agitation tillApril 30 he added.
The various demands made by Life Insurance Agent`™s Association include removal of service tax on premium, removal of TDS on LIC.
Policy maturity, to increase the bonus to policy holder, to increase the gratuity to 5,00,000, to increase the group insurance to 1000000, relaxation the club rule until new plans were introduce, to implement the recommendation of IRDA (Gazette dated- 18.02.2013 for Commission).
Empowering the empower agents to support the policy holder, to give Incentive directly and to the career agents, to implementing the amendment of agent`™s regulation-1972 and to implement the salary and conveyance to CLIA.