Agency Section, Marketing Department, rd 3 floor, Central Office, “Yogakshema”, Jeevan Bima Marg, MUMBAI 400 021 Ph: - (022) – 66598333,34,38,39, Fax: - 22824386, e-mail: [email protected]

Ref: Mktg./ZD/7/2009

Dated: 27th April, 2009

To All Zonal Managers and Sr./Divisional Manager I/c of Divisions. Re.: Incentives to MDRT agents and Support and Monitoring Desks at BO, DO, ZO and CO. It has been decided to focus on the growth in no. of MDRT agents. At present, following incentives are being paid to MDRT qualifiers: (1) An interest free advance, maximum up to Rs.80.000/-, is paid to all MDRT agents who attend the MDRT Annual Meet. (2) Out of the advance of Rs.80, 000/-, an amount of Rs.40, 000/- is reimbursed to all the COT agents who attend the MDRT Annual Meet. (3) An amount of Rs.80, 000/- is reimbursed to all the TOT agents who attend MDRT Annual Meet or TOT meet. The reimbursement is done for only one Meeting. (4) Corporate Club Members who have qualified for MDRT are also eligible for reimbursement up to Max. Rs.80, 000/- or actual airfare whichever is lower. Further, they are also entitled to Out of Pocket expenses of Rs.15000/-. (5) Interest free advance for purchase of laptops up to a maximum of Rs. 80000/- for MDRT qualifiers on Commission basis only is payable which is recovered in 60 equated monthly installments. Agents who qualify for either Top of the Table or Court of the Table on Commission basis only for at least two years in succession are given interest free advance for purchase of laptops up to a maximum of Rs. 1Lac. Additional Incentives approved for MDRT / COT / TOT Qualifiers: In addition to the existing benefits as mentioned above, the following incentives have been approved by the Competent Authority for the qualifiers of MDRT Table 2010 onwards: MDRT

Reimbursement of MDRT Registration Fees (as specified by MDRT from time to time) to all MDRT qualifiers

COT

Reimbursement of Registration Fees (as specified by MDRT from time to time) and Rs.25, 000 as out of pocket expenses for attending the MDRT Annual Meet.

TOT

Reimbursement of Registration Fees (as specified by MDRT from time to time) and Rs.50, 000 as out of pocket expenses for attending MDRT Meet.

Holding of Meets: It has also been decided that (1) 2-3 Pre-MDRT Meets in every division should be held every year. The earlier instructions issued in this regard vide Circular Ref.: Mktg./A/MDRT dated 29.04.2004 and vide letter Ref: Mktg/A/MDRT dated 09.05.2005 stand superceded. (2) Felicitation of qualified MDRTs by Zonal Managers in respective Zones to be done. (3) Brochures of MDRT qualified agents to be printed. Setting up of Dedicated Support Desks: It has been decided to set up dedicated Support Desks at Branch Office, Divisional Office, Zonal Office and Central Office levels. The details of the Activities & Functions and the Key Result Areas applicable at various levels are as following. The Key Results mentioned below are the intermediate goals required to achieve the final Goal – that each Divisional Office should attain the No. of MDRT 2010 Qualifiers as conveyed by them to Central Office through Zonal Offices. Officials

Activities

Key Result Areas

Branch Office: Chief / Sr. / Assistant / Branch Manager and all other Branch Officials will have to provide support to existing and prospective MDRT agents according to their functional positions. Division Office:

Activities / Functions:

Key Results:

Continuous collection and updation of data (name, address, phone no., mobile no., e-mail, New Business performance etc.) of existing, prospective, and last 5 years MDRT qualifiers from all Branches under their jurisdiction.

The ZO and CO will have updated data reg. prospective and qualified MDRT agents

Responsible Officials:

Manager(Sales) and an AAO

Providing information about MDRT Increased awareness eligibility conditions to all prospective about MDRT among such agents. agents. Mentoring of prospective MDRT agents Desired Growth in no. through Meetings, Written of MDRT agents. communications.

Helping such agents in resolving the Reduction in no. of servicing / underwriting related issues at complaints and early Divisional and Zonal Office. resolution of such complaints. Arranging for Pre-MDRT Meets at DO Desired Growth in no.

level for the concerned Division Office.

of MDRT agents.

Communicating with prospective MDRT Desired Growth in no. agents through E-mail, Letters, Brochures of MDRT agents. etc. Monthly tracking of the progress of Desired Growth in no. prospective MDRT agents (NB data) of MDRT agents. through MIS and motivating them. Generation of Merit List of identified Desired Growth in no. prospective MDRT agents on FYC basis. of MDRT agents. Zonal Office:

Key Results:

Activities / Functions:

Responsible Officials:

An Administrative Continuous collating and updation of The ZO and CO will Officer who will MDRT agents’ data received from have updated data. report to Assistant Divisions. Secretary (Mktg./FP) Helping such agents in resolving the Reduction in no. of servicing / underwriting related issues at complaints and early Zonal Office and Central Office. resolution of such complaints. Arranging for special MDRT Meets when Desired Growth in no. a cluster of 2-3 Divisional Offices are of MDRT agents. involved (viz. when a prominent motivational speaker is invited). Working as communication channel Speedy resolution of between the CO and DO Support Desks. issues and fast communications. Floating Competitions, motivational brochures languages.

Central Office : Responsible Officials:

release of Desired Growth in no. in regional of MDRT agents.

Activities / Functions:

Maintaining and updating Zone / Division A dedicated Support wise data of Prospective MDRT agents Desk comprising of with e-mail ID and Mobile no. Assistant Secretary and AAO. Monthly review of Zone / Division MDRT data received from Zones and suggesting

Key Results: CO will have updated data reg. prospective and qualified MDRT agents Continuous monitoring of the progress made

course correction if any. Providing information about MDRT and replying to MDRT related queries received from ZOs and DOs.

on this account. Increased awareness about MDRT and early resolution of MDRT related issues.

Mentoring of prospective MDRT agents Desired Growth in no. through E-mail, Bulletins and Letters etc. of MDRT agents. Helping such agents in resolving the Early resolution of such servicing / underwriting related issues at complaints. Central Office. Providing guidance and assistance to Facilitating their trip for qualified MDRT agents to procure Visa for MDRT Meets. attending MDRT Meets. Communicating with prospective MDRT Desired Growth in no. agents through Phone, E-mail, Letters, of MDRT agents. Brochures etc. Monthly review of Implementation of Continuous monitoring ‘Action Plan’ at Zonal Office and of the progress made Divisional Office levels. on this account. Floating Competitions, release of Desired Growth in no. motivational brochures in English and of MDRT agents. regional languages.

The abovementioned instructions come into force with immediate effect.

Executive Director(Mktg.)