Gratuity limit hiked to Rs 5 lakh for LIC agents
The Indian government has approved welfare measures for over 1.3 million agents and 100,000 employees of state-run Life Insurance Corporation (LIC). The measures include increasing the gratuity limit for LIC agents from ₹3 lakh to ₹5 lakh, expanding the term insurance cover for agents, and making reappointed agents eligible for renewal commission.
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