00:00 The government has announced many welfare measures for the Indian Life Insurance Agency.
00:07 Let's see what the Modi government has announced.
00:10 Under these, there is a renewal commission for reappointed agents, term insurance and family pension.
00:18 We will tell you in detail about the benefits and increases at the end of the video.
00:26 According to the Ministry of Finance, more than 13 lakh LIC agents and 1 lakh regular employees will be benefited from this step.
00:34 LIC will also get help in increasing the PATs in the country's insurance sector.
00:39 Under these welfare measures, the gratuity limit for LIC agents has been increased from Rs 3 lakh to Rs 5 lakh.
00:46 The ministry said in a statement that it will bring sufficient improvements in the working condition and benefits of LIC agents.
00:52 LIC agents are currently not eligible for the renewal commission on any business completed under the old agency.
00:59 But with new measures, reappointed agents will be eligible for the renewal commission.
01:04 The government has said that LIC agents will get strong financial stability.
01:10 In addition, the term insurance cover for LIC agents has been increased from Rs 3,000 to Rs 10,000 and has been increased from Rs 25,000 to Rs 1.5 lakh.
01:20 The ministry has said that the increase in term insurance will benefit the families of LIC agents.
01:27 The government has also said that a family pension of 30% will be provided for the welfare of LIC employees.
01:36 LIC's net profit in April-June was increased by 9,544 crore, which was only 683 crore in the period of one year.
01:50 LIC has also said in a statement that the total income in June-June has increased to Rs 1,88,749 crore, which was Rs 1,68,881 crore in the same period of one year.
02:05 However, the first year premium for Samikshadheen Timahi has been reduced to Rs 6,811 crore, which was Rs 7,429 crore in the same period of one year.
02:18 So, the government has taken a very good step for the welfare of LIC agents and employees,
02:25 in which the increase in the gratuity limit has been made, a renewal commission has been given,
02:29 term insurance cover has been increased for LIC agents, family pension has been made equal, so a lot of benefit is going to be gained.
02:38 That's all in this video, how did you like the information, do tell by commenting.
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02:49 [Music]
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