All the Development Officers of L.I.C. of India, Chandigarh Division, under the banner of National Federation of Insurance Field Workers of India organized a Massive Dharna today in front of Divisional Office, L.I.C. of India Chandigarh. This Dharna was part of NF’s agitational programme, which started from 21-1-08. Prior to this Dharna a mammoth rally was organized in Delhi, on 5-3-2008 by all the Development Officers from all over India to participate in March to the Parliament. This rally witnessed a gathering of more than 16000 Development Officers out of total strength of 21000. The rally was addressed by as many as 25 honorable Members of the Parliament. The next move of our agitational programme is Mumbai Chalo to our Central Officer YOGAKASHEMA on 31-3-2008.
No foreign equity (FDI) enhancement in Insurance sector.
Sovereign guarantee for LIC policies should continue in the greater interest of this country and protect interest and benefits of agency force
A comprehensive review of the post privatization era of the insurance sector before initiating any vital decisions relating to the industry has to be made
Govt. should honour the “Memorandum of Understanding “signed in 1989 between LIC and NFIWI in their service conditions and refrain from any change adversely
Honour the commitment of the Honourable Finance Minister on the floor of the Parliament on 10th Dec 2004 regarding the fair review of the incentive package of the Development Officers unilaterally notified through GOIBS 2004
Restoration of payment of marketing expenses in the form of Additional Conveyance Allowance and Reimbursement of Expenses
Strengthen the class of Development Officers to fight the competition & improve the market share of LIC
Stop immediately the outsourcing in the marketing wing of LIC which is aimed at creating a parallel marketing force
Stop unilateralism of the LIC Management and settle all issues by discussing with NFIFWI.
Immediate recognition of NFIFWI in the house of LIC
The pension norms for ex-LIC employees who are now working with private Insurance companies against the interest of LIC should be reviewed.
NFIFWI considers the ill conceived move of Govt to hike FDI in insurance sector as a prelude with a hidden agenda. The proposed move would definitely cause erosion of ability of public sector and help foreign companies gain exclusive control of people’s domestic savings in insurance sector. This move is exclusively to appease the foreign insurance companies in India which is incurring huge losses.
The nefarious design to withdraw the sovereign guarantee of all insurance policies of public sector on the pretext of offering a level playing ground tantamount to betrayal of the basic objectives and spirit of nationalisation of life insurance industry and also national priorities. This move will deprive the citizens of India of their only available source of social security.
The class of the Development Officers are totally shattered and devastated by the dictatorial attitude and approach of LIC Management to slowly phase out the class from the industry by initiating a move to change the Service Conditions of Development Officers unilaterally, making it more stringent and toughest one to subsist. In 1989 a MOU on service conditions signed by NFIFWI and LIC of India was notified by the Govt. In total ignorance of MOU, LIC management and Govt of India is trying to exhibit their supremacy of power and unilateralism to change its conditions drastically to destabilize the well knit marketing network of LIC to pave the way for private players.
The management also drastically reduced the income of Development Officers to the tune of 50% to 90% and withdrew marketing expenses of the field force through a unilaterally imposed Growth Oriented Incentive Bonus Scheme (GOIBS) in August 2004 resulting in lowering down LIC’s market share to 64% as on December 2007 proving wrong the claim of LIC to increase the market share from 88% to 95% at the time of introduction of the said scheme. Assurance given by the Finance Minister on the house of Parliament to review the scheme after the closure of the Financial Year was not honoured. We feel betrayed by this false assurance of the Finance Minister. Even without reviewing the Scheme of 2004, management went to the extent of unilaterally imposing a fresh scheme of GOIBS 2007. This is really a shameful event. That is why the motto of our agitation is “SAVE LIC PROTECT LIC”.