Does Development officer earn any trailing Commission for appointing Agents

[vvivek22]

I understand that Business Development Officers (BDO) are scouting to hire agents very aggressively.

I am under the impression that BDO's earn trailing commission (on every business generated by Agents). Is it TRUE? If Yes, What is the Percentage of Trailing Commission they earn.

What is the eligibilty criteria for a part-time/ freelance agent to become a BDO?

Regards

Vivek
Hyderabad

[>take]

The corporate structure is almost simmilar to LIC. I have tried to search the credit % for DO of PSU general insurance companies but not found any. Juts to add - "A DO had to procure a minimum of Rs 30 lakh of premium to protect his increment and job." Not sure if it changed now.

[>take]

What is the eligibilty criteria for a part-time/ freelance agent to become a BDO? Better ask this question to the customer care of insurance company.

[vvivek22]

Really Thanks Fellas, for replying.

Good News.

In a Couple of weeks, I will upload the Commission Rates for Agents, Trailing Commissions for BDO, for all Public Insurance companies (LIC, SBI Life, Oriental, National, New India, IFFCO-TOKIO, United Insurance etc.).

I'm drafting Questionnaire on Commssion under Right To Information Act (RTI Act).

Hopefully, I will be able to attach the files in a couple of weeks.

Wait for my reply.

Regards

Vivek
Hyderabad.

[PolicyWala]

LIC Commission structure attached here - http://www.policywala.com/forum/showthread.php/2174-How-much-commission-LIC-agent-gets-of-the-premium

It is called as LIC Development Officer Credit (see attachment)