{"id":8424,"date":"2023-09-18T11:49:01","date_gmt":"2023-09-18T11:49:01","guid":{"rendered":"https:\/\/thenftimes.com\/index.php\/2023\/09\/18\/govt-announces-family-pension-for-lic-employees-hikes-gratuity-limit-for-agents-n-f-times\/"},"modified":"2023-09-18T11:49:03","modified_gmt":"2023-09-18T11:49:03","slug":"govt-announces-family-pension-for-lic-employees-hikes-gratuity-limit-for-agents-n-f-times","status":"publish","type":"post","link":"https:\/\/thenftimes.com\/index.php\/2023\/09\/18\/govt-announces-family-pension-for-lic-employees-hikes-gratuity-limit-for-agents-n-f-times\/","title":{"rendered":"Govt announces family pension for LIC employees, hikes gratuity limit for agents &#8211; N.F Times"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><strong>New Delhi:<\/strong> Government on Monday announced family pension at a uniform rate of 30 per cent for the welfare of the families of LIC employees.<\/p>\n<p>It has also enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents.<\/p>\n<p>Announcing a slew of welfare measures for LIC agents and employees, the Finance Ministry said that these will bring substantial improvements to the working condition and benefits of LIC agents.<\/p>\n<p>The term insurance cover for the agents has also been expanded from the existing range of Rs 3,000-10,000 to Rs 25,000-1,50,000.<\/p>\n<p>This enhancement in term insurance will significantly benefit the families of deceased agents, offering them a more substantial welfare benefit, official sources said.<\/p>\n<p>Government has also enabled reappointed agents to be eligible for renewal commission, thereby providing them with increased financial stability.<\/p>\n<p>Currently, LIC agents are not eligible for renewal commission on any business completed under the old agency.<\/p>\n<p>More than 13 lakhs agents and more than 1 lakh regular employees, who play a pivotal role in the growth of LIC and deepening of insurance penetration in India, will benefit from these welfare measures, a statement said.<\/p>\n<p>The welfare measures are related to the amendments to LIC (Agents) Regulations, 2017, enhancement of gratuity limit, and uniform rate of family pension among others.<\/p>\n<p><strong>(IANS)<\/strong><\/p>\n<\/p><\/div>\n<p><script>(function(d, s, id) {\n    var js, fjs = d.getElementsByTagName(s)[0];\n    if (d.getElementById(id)) return;\n    js = d.createElement(s); js.id = id;\n    js.src = \"\n    fjs.parentNode.insertBefore(js, fjs);\n  }(document, 'script', 'facebook-jssdk'));<\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] New Delhi: Government on Monday announced family pension at a uniform rate of 30 per cent for the welfare of the families of LIC employees. It has also enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents. Announcing a slew of welfare measures for LIC agents and employees, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-8424","post","type-post","status-publish","format-standard","category-nation"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/8424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=8424"}],"version-history":[{"count":1,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/8424\/revisions"}],"predecessor-version":[{"id":8426,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/8424\/revisions\/8426"}],"wp:attachment":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=8424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=8424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=8424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}