Excelsior Correspondent
JAMMU, Feb 28: LIC Agents held a gate meeting in front of Branch Office Jeevan Jyoti building Rail Head Complex, here today to oppose the proposed amendment in Insurance Act 1938 clause 40 to 44.
The gate meeting was organized under the banner of Life Insurance Agents Association. It while opposing the proposed amendment in the Insurance Act said under it the agents commission will be stopped after six years, hereditary commission will be abolished and the gratuity payment will be stopped. Besides the entitlement of renewal of Commission and orphan policies Commission will also be stopped and early period of the policy holder will increase from three to five years.
The Association decided to protest against the amendment in Insurance Act. It chalked out its future programme and decided to hold nation wide candle light agitation against the amendment of the Insurance Act of 1938, hold candle march protest in front of all divisional offices of LIC on March 5 which will be followed by a press conference next day. The agents will boycott work on March 7 and ghearo Parliament from March 20 to 25.
Meanwhile, a meeting of LIC agents of Samba branch was held today under the chairmanship of their president, Avtar Singh, wherein they criticized the UPA Government for its anti-agents move.
The meeting expressed concern over the Government’s move to amend the Act 1939 from Section 40 to 44 to bring some more problems for the agents community and policy holders, as there is also a provision of extent in time of early claim from 3 to 5 years, in Section 44.
The meeting urged the Government not to deprive the agent’s nominee of benefits after their death. The agents also pleaded not to make tougher laws for the claimants to get their claims.
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