Tuesday, 21 October 2008

12 policies per annum...

IRDA has made it mandatory for all the insurance agents to register a minimum of 12 policies per annum to retain their license. I have been licensed into this business from October 16, 2006. And my second year as an Insurance Advisor with the nation's largest insurer has just come to an end. In the first year, I was a supershot performer and I was able to register more than 75 policies. However, in the second years, things have been quite dull. With the withdrawal of LIC Money Plus, there has been a slowdown. Further, the hot selling ULIPs have also not been doing well and thus, even I did not personally feel like to suggest someone to buy them. The markets have been drowing and diving deeper and deeper with each passing day. Further, due to my involvement in college activites and also this being the final year at college, I have ignored my work. Its only off late that I decided to restart. Even now, I am unable to give it my best due to other commitments of life. I just wanted to ensure that I complete 12 policies before 16 October. And yes, it happened. I completed 12 policies and had a sigh of relief and felt very happy

But soon, an issue came up. The IRDA rule says that we must insure at least 12 lives, which means, 12 different persons. However, in my case, I have a customer who has taken 2 policies. Hence, though I have 12 policies registered, the lives that I have been able to cover is just 11. An immediate need for another policy arose

And the last date too got over. However, I got an extension for another 15 days and I was asked to complete this before the end of October

By God's grace, I have been able to make up for this and the license is almost retained :-)

I thank all my clients and friends for the help they have extended to me in this endeavor

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