PLI Incentive Structure 2024- Agent Commission Chart PDF

Are you searching for Postal Life Insurance Incentive Structure on the Internet? If yes then this post is for you. This post is essential for PLI RPLI agents because they get a commission on PLI or RPLI policies.

Recently, the Postal Life Insurance Directorate issued latest PLI incentive Structure for BPM and others. Calculate RPLI or PLI commission from the below PLI agent commission calculator and chart.

Table of Contents

Postal Life Insurance Incentive (PLI Commission) 2024

When a PLI agent drives more business in PLI or RPLI, the Department of Post gives a specific commission to the agent. This commission is known as Postal life Insurance Incentive or PLI Commission.

Types of PLI Commission

As per Postal Directorate letter no. 28-03/2019-LI dated 19.06.2020, there are two types of PLI incentives introduced by the postal department. These are as under-

Procurement Incentive on PLI

Renewal Incentive on PLI

01. Procurement PLI Incentive Structure

The incentive payable in the first year (First 12 months) of any new PLI policy is known as a procurement PLI incentive.

Similarly, a premium for the first 12 months of a PLI policy is known as a procurement premium.

Procurement PLI Incentive Structure for PLI policies other than Anticipated Endowment Assurance (AEA) is as under-

PLI Incentive on WLA, CWLA, EA, Children Policy, and Yugal Suraksha
Up to equal to 15 years	4% of first-year premium
More than 15 years but less than or equal to 25 years	10% of first-year premium
More than 25 years	20% of first-year premium

The Procurement Postal Life Insurance Incentive rate for Anticipated Endowment Assurance Policy (AEA) is as under-

PLI Incentive on Anticipated Endowment Assurance Policy
Less than or equal to 15 years	5% of first-year premium
With a term beyond 15 years	7% of first-year premium

02. Renewal PLI Commission Structure and chart

When an incentive or commission was paid on the renewal of any PLI policy is known as Renewal PLI incentive.

The premium received from the 13th month onwards in a PLI policy is known as renewal premium.

Renewal PLI Incentive on those PLI policies that procured between 01.10.2009 to 31.03.2017
Departmental Employees	Nil
Field Officer	2% of renewal premium
Direct Agent	2% of renewal premium
Gramin Dak Sevaks	Nil

Renewal PLI Incentive on those PLI policies that procured between 01.04.2017 to 30.06.2020
Departmental Employees	Nil
Field Officer	2% of renewal premium
Direct Agent	2% of renewal premium
Gramin Dak Sevaks	Nil

Renewal PLI Incentive on those PLI policies that procured on or after 01.07.2020
Departmental Employees	Nil
Field Officer	1% of renewal premium
Direct Agent	1% of renewal premium
Gramin Dak Sevak	Nil

New PLI Incentive Structure Chart PDF

01. Procurement incentive on PLI

01. Procurement incentive rate for PLI policies other than Anticipated Endowment Assurance (i.e. WLA, CWLA, EA, Children Policy, and Yugal Suraksha)

Premium paying term- up to and equal to 15 years- 4% of first-year premium income
Premium paying term- more than 15 years but less than or equal to 25 years- 10% of first-year premium income
Premium paying term- more than 25 years- 20% of first-year premium income

02. Procurement incentive rate for PLI Anticipated Endowment Assurance

Premium paying term- less than or equal to 15- 5% of first-year premium income
Premium paying term- more than beyond 15 years- 7% of first-year premium income

Procurement incentive rate for PLI policy for Development Officer (DO PLI)

The development officer (DO PLI) will be paid PLI incentive at the rate of 1% of the total PLI new business premium (NBP) procured by Direct Agents attached to that DO.

02. Renewal PLI incentive

Renewal PLI incentive at the rate of 1% of renewal premium will be payable to all sales force of PLI. No renewal incentive on PLI policies will be paid to DO (development officer).

New RPLI Incentive Structure Chart

01. Procurement incentive on RPLI

For all types of RPLI policies, each category of the sales force will get procurement incentives at the rate of 10% of the procurement premium.

DO will be paid procurement incentive @ 1% of total RPLI new business premium (NBP) procured by Direct Agents attached to that Development officer.

02. Renewal incentive on RPLI

For all types of RPLI policies, each category of sales forces will get a renewal incentive @ 2.5% of the renewal premium. No renewal incentive on RPLI policies will be paid to development officers.

PLI/RPLI Incentive on online Cash Pay policies

Procurement incentives at the rate prescribed above will be payable on PLI/RPLI policies in case of online/cash/pay policies.

renewal incentive at the rate prescribed above will be payable on PLI/RPLI policies in case of online/cash/pay policies.

No renewal incentive will be payable in the case of pay policies.

PLI Incentive Structure Clarifications

The Postal Directorate has also issued various clarifications on PLI incentive structure. these are as under-

Clarification on PLI Incentive Structure 2024

Clarification on PLI Incentive Structure 2023

Clarification issued in 2020

PLI Incentive Structure Clarification 2020

New PLI RPLI Incentive Structure PDF

FAQs

Question 01. Can sales force of PLI RPLI procure insurance business from outside their parent Postal Division?

Answer-
(i) The sale force of PLI RPLI may procure PLI RPLI business from anywhere in a Postal Circle.

(ii) In such cases, PLI RPLI policy will be indexed at the HO CPC nearest to the address/place of residence of the insurant.
(iii) No TA/DA will be payable to the sale force of PLI RPLI for procuring PLI RPLI business.

Question 02. Is Sorting Assistant/AAO/PACO Cadre eligible to procure PLI RPLI business?

Answer- Yes, all categories of Departmental employees drawing salary up to the level-8 (as per 7th CPC) including MTS, postman, PA, SA, PACO, IP, AAP, ASP, etc. are eligible to procure PLI RPLI business. The present system of procuring PLI RPLI business outside office hours by departmental employees will continue.

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