LIC agents' organization to dispute against govt policies

LIC Agents' Organization of India will up its ante against the Union government's retrograde policies pertaining to life insurance sector.

The Centre through a series of policy measures is scientifically destabilizing Life Insurance Corporation of India, toying with the livelihood of agents, who are the backbone of the organization, and also hurting the interests of lakhs of policy holders, its president Basudeb Acharia said.

Acharia said the UPA government in its second avatar is trying to push through what it could not do in its first innings - namely disinvest its share in LIC and also usher in greater foreign direct investment in insurance sector. The government through theses measures is happily playing into the hands of MNCs in the insurance sector to serve their interests, he said.

Having moved a private members Bill in the Parliament on December 4 demanding job security, pension, welfare fund and mediclaim for the 13.5-lakh-odd LIC agents across India, Acharia said LIC could not survive if its agents, who are its backbone, are removed from the scene. This is what precisely, the government intends to achieve with the new insurance bills, Swarup Committee report and amendment to LIC Agents Regulation Act.

Assailing a move to usher in direct marketing of LIC Policy as recommended in the Swarup Committee report, he said India as a country was not yet ready for a system where people went and bought life insurance policies over the counter. "It requires agents to canvas business in this area, make people understand the need for insurance," he said adding that such a move if accepted will render around 10-lakh LIC agents jobless.

Acharia making a mention of the mammoth dharna held in front of LIC head office in Mumbai on December 4, hoped government would take a favourable decision to their demands. Plans are afoot to associate other trade unions in the agitation programmes, he said adding that LICAOI will observe as black day when his bill comes up for discussion. If the bill is passed, all office functions will be boycotted on that day, he added.

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