63rd ANNIVERSARY CELEBRATIONS LIC OF INDIA & a Polite Appeal from Pensioners

Revered & Respected Chairman,LIC, 

      Re: 63^rd ANNIVERSARY CELEBRATIONS   LIC OF INDIA & a Polite Appeal from Pensioners

1)Born on 1^stSep,1956,LIC,from an infant.grew to boyhood,then adulthood.a Giant,celebrated the Golden Jubilee on 1/9/2006,has earned ever so many accolades,  ' a jewel in the crown, a world-class organization' .Its Logo & Emblem-Yogakshemam Vahamyaham—Thy Welfare is Our Responsibilty--became household memory. 'In the humblest of homes,our flame burns bright & Hands that protect,Hands that serve' ,are no idle boasts.

2) LIC human resources are like an assorted Brittania Cream biscuits, take any discipline, Actuary, Accountant, Engineer,Underwriter,Personnel & HRD  Experts,Trainer,Marketing Experts, Dynamic Agents  & Vibrant Development Officers & Field Force, Humane Policy servicing Administrators,right from proposal to Policy to Claims, Symphony in Architecture as Sri Ghadiali used to describe then LIC Buildings,so Architects , IT Experts,name any, LIC has a distinct resource base that merrily carries through higher & higher. This is LIC's crowning glory.   

            3)Activities of LIC Golden Jubilee Foundation, International operations, achievements of IT/SD Dept, IT/BPR Dept make us proud,we are 2^nd to none in IT thrust & forward-looking & making all operations of all Depts so light, so fast, so swift,earning customer & stakeholders goodwill,& enhancing our image & public relations.What a nostalgia, down memory lane thro the Periscope, a visual delight with illustration of archival publicity material in House Magazine Yogakshema.ALL IN ALL, A GARLAND OF AWARDS , AN AROMA & FRAGRANCE WHICH NEVER  DIES, SO SOOTHING,&   SOUL-SATISFYING.

            4)The Corporation always exhibited its firm belief, confidence and trust in its Human Resource which has been its biggest strength. The leaders of the Corporation even in the time and era of Golden Hand Shake or VRS did not budge an inch from their faith in Human Resource of LIC and did not approve any such scheme for LIC.LIC must ,of its own, honourably , recognise the valiant efforts put in by Seniors in the initial teething years of the Corporation,churning unity & uniformity in procedures & practices from the multiple, diverse,247Unit companies into a mosaic of simple, standardized rules, the changeover during long OIC creative & dedicated endeavours bringing sea-change in tiers of structure,mental metamorphosis, attitude,not aptitude, which determines the altitude,Branch as a Profit Centre, a Growth Centre & indeed a Triveni,where policyholders,fieldforce,& employees meet,mix & mingle.

       5) 112 Divisions, 2048 BOs,1169 Satellite Offices,70 customer zones,25 MASHcentres,17,287 premium points,25000 Development Officers &13.37 lac agents,& easily the largest network in the world. Staggering Total Income,Booming,Solid Life Fund,ever-growing surplus, a Maharathna in reality, a True National Gigantic Institution in every sense of the term, unalloyed praise from every quarter,Awards & Accolades galore. , LIC's presence is worldwide. LIC is a trusted brand.Former FM Sri PChidambaram thundered, "I dare to say that no other three letters taken together are more recognized to the length and breadth of India than LIC."  Insurance and LIC are synonymous.There is no better 3-letter word than L I C. Sri Arun Jaitley,present  FM ,when he visited "Yogakshema" on 9^thJanuary,2015, observed, 'the Country depends on LIC  to a great extent. LIC is a Role Model of how a state sector instrument can, while maintaining  arm's length distance, take prudent commercial decisions and LIC has done exceedingly well.' What more testimonials needed !

         6)i)What a sterling performance on all counts,under your worthy leadership, breaking records,creating new records,Budget of TFPI achieved on 15/3/2018 itself ,FY 2017-18 witnessing Rs1,34,552 cr NBFYPI,Highest Ever in history. LIC continues as Market Leader ,with 69.4% market share in FP,83.7 % in SP & 75.7% in Policies. 104 Dos,1599 BOs,1063 SOffices achieved TFPI. Investment income stood at Rs1,97,000 crores provisionally ,out of which more than Rs 25,000cr  by booking profits in equities.Surplus rose from Rs1,05,322 cr to Rs1,07,277cr in 2017-18 &  dividend to Govt Rs2198 cr.LIC increased Reversionary Bonus under some plans & maintained bonus alloyed for other plans.Loyalty Additions were declared for new plans too.What an unprecedented Miracle  you & your dedicated Team of MDs ,EDs,HODs ,Administrative & Marketing force  have done.We pensioners feel so elated that we are LICians 1^st & LICians last.

        ii)Another favourable feature after GST on insurance premiums FP 3.75 % to 4.5% ,rise of 0.75% So ,app for 2016-17 figures Rs23,82,93,839,excess revenue boost for CG is Rs 17,87,203.79

RP 1.875 % to 2.250 % ie 0.375 % Excess rise in CG Revenue will be Rs 63,20,726.10

SP 1.50% to 1.80 %,rise of 0.30%.Excess revenue for CG will be Rs2,22,18,637.71

With such a formidable, built-in GST rise,any sane Govt must sportively honour LIC & Employee/Pensioner demands .

         7) The Corporation always exhibited its firm belief, confidence and trust in its Human Resource which has been its biggest strength. The leaders of the Corporation even in the time and era of Golden Hand Shake or VRS did not budge an inch from their faith in Human Resource of LIC and did not approve any such scheme for LIC. LIC must ,of its own, honourably , recognise the valiant efforts put in by Seniors in the initial teething years of the Corporation,churning unity & uniformity in procedures & practices from the multiple, diverse,247Unit companies into a mosaic of simple, standardized rules, the changeover during long OIC creative & dedicated endeavours bringing sea-change in tiers of structure,mental metamorphosis, attitude,not aptitude, which determines the altitude,Branch as a Profit Centre, a Growth Centre & indeed a Triveni,where policyholders,fieldforce,& employees meet,mix & mingle.

         8)That we pensioners also contributed our mite & strength to build this organization from scratch, as it were,laid a strong ,stable Foundation, built the edifice, then the superstructure,and enabled LIC to earn encomiums, accolades thro its myriad achievements is an everlasting tribute to us as also all employees of LIC ,creating a synergy of its own & musical Symphony of Raga, Bhava & Thala .Do we not portray the protecting 2 Hands ,flame burning brightly, all homes lit with insurance cover and happiness & what an Emblem & Logo, unrivalled ,permanent Brand created, not only market share but also Mindshare LIC has cornered so adroitly & professionally.

      9)We are all LICians first & LICians last.Live your Dreams, don't dream your life ,Convert Dream into Vision.Insure & be Secure,We know Indiabetter,Zindagike sath bhi, Zindagikebadbhi .LICians dream, they envisage vision,LIC itself is an ensemble of Raga,Bhava,Thala of employees,field force & policyholders/ stakeholders. Privatisation & competition have only added grit & determination enabling LIC to emerge stronger & be adored as a respectable &undisputed  Market Leader. As a multi-dimensional organization, LIC has the potential, power & potency to don  this new Avatar, don it must & don it will.

       10)This is the propitious moment & time to think big,to honour retirees & pensioners as real Founders & as some Zones & Divisions celebrate Founders Day, a right & meaningful recognition,alluded in  your  Speech in May 2017 All India SDM Conference & also during 2018 May conference,made this telling observations,  "We stand tall today,because our objectives are noble,our performances are superlative & our legacy is so very rich-----& for that I give credit to each & every LICian—past & present who has worked for last 6 decades to make LIC of India,what it is,today. "

             i)a uniform practice for Founders' Day celebrations  can be established as they  built the rock of sound edifice & strong foundation enabling LIC to grow & remain undisputed Market Leader & an epitome of financial strength & solidity.

            ii)As pensioners are Senior Citizens & Super Sr Citizens,60,70,75,80 years & above  & are susceptible to all types of known & unknown ailments & disabilities,will it not be prudent & forward-looking for LIC to grant SAME facilities or Yearly lumpsum for Domiciliary, aged & elders actually deserve more,as Consultation fees are high ,so too ordinary Special Reports & medicines for Pensioner & spouse.

           iii)Also Preventive Health check up being allowed for  Employees staggered from age 60 on frequency basis,which will enable early diagnosis & even prevent hospitalization for pensioners ,thus reducing costs in one way.

iv)We thank LIC for the Mediclaim Scheme with New India & TPA & though this year 2018-19 ,it is virtually ditto same benefits  as 2017-18  & reasonable practical suggestions given to LIC CO, sad it was not processed at all. Hopefully as earlier years, there was rise of 43 % in premium, this year it is marginally less by 3-4 %,we humbly appeal to you to remove some glaring deficiencies & restrictive applications ,delineated  in our  comprehensive letter to EDPersonnel atleast for the year 2019 -20

v) IRDAI issued a circular 17 August 2018 ,directing insurers to cover mental healthcare, a segment of healthcare that has assumed serious proportions in India .The Mental Healthcare Act 2017, which came into force since May 29, had made it mandatory to provide " medical insurance for treatment of mental illness on the same basis as is available for treatment of physical illness ". But to date, none of India's 33 insurers has introduced a product that covers ailments such as depression, schizophrenia and bipolar disorder, even though such covers are common in many countries. IRDAI says : " All insurance companies are directed to comply with the Act with immediate effect."Mental health conditions have always been in the list of exclusions of health insurance policies. 

In what may mean more inclusive health care policies for patients, the insurance regulator has removed around 10 items, including procedures such as dental, stem cell, infertility and psychiatric treatment, from the list of " optional cover " for health insurance.

Please request CO Personnel to initiate talks immediately with New India & IRDAIs dicta can be implemented for the benefit of all Employees & Pensioners.

            vi) An enlightened institution like LIC must endeavour to promote HRD in every sense of the term,development of potential to fulfil the clarion call given by you & our revered Managing Directors,& as a premier institution assisting Govt in a breath-taking manner with allround investments, Peoples Money for Peoples Welfare, LIC Human resources being second to none, & if LIC reputation is etched in letters of gold, if RBI,  Central Govt, Defence, are placed  in a better position in wages & pension ,LIC Employees & Pensioners can afford to get a fairer & better deal.

          vii)It will be in the fitness of things if Pensioners,who are a worried lot as far as welfare & health matters in entirety is concerned , LIC creates Pensioners Welfare Fund with proper delineation of usages as Banks have general Staff Welfare Fund inclusive of benefits to Pensioners & review is done by MOF & at periodical intervals enhances depending on Paid up capital of banks.Employees get many other benefits & privileges denied to pensioners & deservedly it can be ONLY for pensioners to have some general impact & utility for all pensioners

         It must be remembered ,in this context,that Banks & SBI  secure  Staff Welfare Fund,periodically revised upwards significantly,& in the context of 63^rd ANNIVERSARY celebrations ,such magnanimous decisions can be taken as a fitting Tribute 

          viii)As you enhanced Employee benefits on many counts, PL ,Paternity benefit for male employees, Gratuity substantial rise Rs10 lacs to Rs20 lacs,, though from 29/3/2018 ,not same 1/1/2016 as for Govt employees !,& a 100 % increase in risk SA under GSLI Scheme,PLEASE implement for Pensioners GSLI scheme ,proposals from P & GS CO with CO Personnel ,with grace & empathy for Elders.

              ix)Needless to say,all were waiting & waiting then for bigbang announcements for DIAMOND Jubilee celebrations, & this humble Appeal during  the auspicious Insurance Week celebrations   of LIC, can surely witness something spectacular. Yesterday was history, Today is Gift called Present & Tomorrow is Mystery .Let respected  Chairman adorn LIC with an empathetic & flexible announcement,common to employees & pensioners as well.OCTOBER Month is for World Elders Day & Security .

 Our sincere Greetings & prayers on this happy occasion of LIC completing its 62 years of Saga of Service & Security to the entire Nation.We are confident LIC dedicates itself to the Nation at large & pledges its resolve to ensure the best service to all ensuring customer delight& ecstacy.LIC indeed,shall shine & sparkle & emit its lustre all around.   

Greetings ,Goodluck & Godspeed ,& with warm & respectful regards,

           R.B.KISHORE,                  TO:Sri V.K.SHARMA,CHAIRMAN, LIC

ED(Retd),LIC

VP, AIRIEF (All India Retd Insce Employees Fedn)

Life Member, PROBUS CLUB

098403 40591/044-2815 5810