The Life Insurance Agents’ Federation of India on Saturday staged a demonstration wearing black badges in front of the Life Insurance Corporation (LIC) of India office here to press various demands.
According to a press release here, the association wanted an increase in commission for agents as recommended by the Insurance Regulatory and Development Authority.
They demanded that the bonus given to policy holders be increased, and sought the removal of service tax on premium and the tax deducted at source (TDS) when policies matured. They said that more facilities to be given to empowered agents. The LIC chief life insurance advisers should be given a monthly pay, and travel allowance. Association divisional president C. Saravanamurthy led the demonstration.
He warned of intensifying the protests if the demands were not met.
