Leap Awards 2017

In order to recognize the achievement of its members, LUGI now presents LUGI Excellence in Achievement Program (LEAP), an award that identifies members who have stretched themselves that extra mile to achieve something that many can only dream of. This is yet another step to recognizing members of LUGI.

ELIGIBILITY

The LEAP Awards for the financial year 2016 – 2017 can be based on any one of the following criteria.

1. Fresh Commission Basis :

    • First year commission including bonus commission for the financial year 01-04- 2016 to 31-03- 2017.
    • Commission earned under Medical Insurance Policies for the financial year 01-04- 2016 to 31-03- 2017.
    • Commission earned under Personal Accident Insurance Policies for the financial year 01-04- 2016 to 31-03- 2017.
    • Other General Insurance Commission will not be added.
    • The commission earned under Medical Insurance Policies and Personal Accident Insurance Policies will be restricted to 40% of the eligibility for the respective clubs mentioned below.

In order to encourage members to achieve more, it has been decided to have three bands of awards based on the said criteria.

Recognizes achievement of Rs. 6,25,000 or more, First Year Commission including bonus earned during the period 01-04- 2016 to 31-03- 2017.

Recognizes achievement of Rs. 10,75,000 or more, First Year Commission including bonus earned during the period 01-04- 2016 to 31-03- 2017.

Recognizes achievement of Rs. 15,75,000 or more, First Year Commission including bonus earned during the period 01-04- 2016 to 31-03- 2017.

2. Total income basis :

    • Income received from Life Insurance Companies, includes First Year Commission, Bonus Commission, Renewal Commission, commission through CLIA channel for the financial year 01-04- 2016 to 31-03- 2017.
    • Income received from stand alone Health Insurance Companies and other Non Life Insurance Companies for the financial year 01-04- 2016 to 31-03- 2017.
    • Income received from Housing Finance Companies for the financial year 01-04- 2016 to 31-03- 2017.
    • Income received from Mutual Fund Companies for the financial year 01-04- 2016 to 31-03- 2017.

In order to encourage members to achieve more, it has been decided to have three bands of awards based on the said criteria.

Recognizes achievement of Rs.15,00,000/- or more earned income during the period 01-04- 2016 to 31-03- 2017.

Recognizes achievement of Rs.25,00,000/- or more earned during the period 01-04- 2016 to 31-03- 2017.

Recognizes achievement of Rs.40,00,000/- or more earned during the period 01-04- 2016 to 31-03- 2017.


RECOGNITION

All Presidents’ Club, CEOs’ Club and Members’ club achievers, will be recognized by displaying their name along with their photos in respective club in our web page.

All eligible members who have registered for 15th Annual Convention in 7th October, 2017 will be recognized by presentation of Certificate and a Medal (or) Memento by the VIP Guest in honour of their achievement.

CONDITIONS:

All LUGI members who are in good standing can register online or download the declaration form to be sent duly filled along with the below mention certificates (Proof of commission received/ income accepted for the eligibility).

1. Fresh Commission Basis :

A photocopy of Form 16A issued with break up of First Year Commission & Bonus, Commission earned certificate issued by the respective Insurance Company with break up of First year commission or certificate of eligibility issued by the Branch Manager or a competent authority should be submitted to confirm eligibility.

All forms should reach LUGI office on or before 1st September, 2017.

Approved Awardees will be uploaded in web site on weekly basis.

LUGI managing committee reserves the right to reject an application, if it finds that the form is not signed by a competent authority.

Benchmark for achievement and criteria for selection under specific band will be applicable only for this year.

2. Total Income Basis :

Photocopies of Form 16A issued by respective Insurance Companies – Life, General, Health & Housing Finance Companies & income statement from mutual funds for the period 01-04- 2016 to 31-03- 2017.

Photocopies of total income computed in the IT Saral statement (which includes income from mutual fund) for the period 01-04- 2016 to 31-03- 2017.

(or)

Photocopies of total income computed in the IT Saral statement (which includes income from mutual fund) for the period 01-04- 2016 to 31-03- 2017.

Download declaration form

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