FIELD MANPOWER DEVELOPMENTDEPARTMENT

PRINCIPAL OFFICE KARACHI

IMPOTTANCE OF PROSPECT NAMES IDENTITY COLD CALL / GOLD CALL RELIGION IDENTITY

WHY RESIDENTIAL ADDRESS IMPORTANT? TO ASSES FINANCIALWORTH/STATUS. MAILING PURPOSES. AREA ALLOCATION TO MAKE A LIST TO VISITS.

WHY RESIDENTIAL PHONES IMPORTANT? EASY COMMUNICATION/CONTACTS LOWEST PHONE CALLS RATE– LAND LINEBENEFITS OF CELL PHONES AVAILABILITY ALL TIMES. GUARANTEED APPOINTMENTS. TIME SAVING

IMPORTANCE OF FACT FINDING

KNOWING AGE BENEFITS?

MATURITY LEVELSELECTION OF SUITABLE PLAN.EARNING CAPABILITIES.

WHY TO KNOW CLIENTS PROFESSION?

TO SELECT PROPER TIME FOR PLAN PRESENTATION.TO ASSES EARNING CAPABILITIES.TO SELECT SUITABLE PLAN & SUPPLEMENTRY CONTRACT.TO KNOW ABOUT GROUP INSURANCE COVERAGE AVAILABLITY.POST RETIERMENT BENEFITS.

IMPORTANCE OF FACT FINDING

ACCOMMODATION OWNED OR RENTED?

TO ASCERTAIN PREMIUM PAYING CAPACITYFINANCIAL WORTHTO MOTIVATE PROSPECT FOR INSURANCE BY GIVING IDEA OF HIS/HER OWN HOUSE.

WHY IMPORTANT TO KNOW NUMBER OF DEPENDANTS AND THEIR AGES.TO DECIDE TERM OF POLICY.TO ASSES LIABILITIES.

BENEFITS OF KNOWING STATE LIFE INSURANCECONFIDENCE.BRAND RECOGNITION.EASY TO SELL PLANSOPPORTUNITY TO EXPLAIN.

IMPORTANCE OF FACT FINDING

PREMIUM RATES

The premium rates given here-in are applicable to all new

life insurance policies issued by the Corporation

henceforth.

These rates are the basic annual rates for Rs.1,000/- sum

assured unless mentioned otherwise.

The actual amount of premium payable will be determined

by adding to the basic annual premium for the total sum

assured and policy fee of Rs.2.50 per Rs.1,000/- sum

assured subject to a maximum of Rs.100/-.

SPECIAL REBATESFOR POLICIES OF RS.3,00,000/- AND ABOVE

SUM ASSURED:

For a policy of Rs.3,00,000/- and above sum assured the

basic

annual premium per thousand sum assured will be reduced

by 50 paisa.

MODE OF PREMIUM:

If the mode of premium payment is other than yearly, the

premium installment will be determined by multiplying the

annual premium by factors:

MODE FACTORS

MODE FACTOR

Half-Yearly 0.52

Quarterly 0.27

Monthly 0.09

In other words the Half-Yearly premium will be 4% more than

yearly premium. Similarly quarterly and monthly premiums will

be 8% more.

CALCULATION OF PREMIUM

Premium calculation of basic sum assured shall be to

the nearest rupee, the method would be to calculate

upto 2 decimals and then take the nearest rupee i.e. if

the premium works out of Rs.5526.50 it should be

taken as Rs.5526/- and if it is Rs.5526.51 or above it

should be taken as Rs.5527/-.

Similarly all extra premiums for supplementary

contracts i.e. AIB, ADB, FIB etc., are also to be

calculated to the nearest rupee separately and

rounded off separately.

THANKS!

FIELD MAN POWER DEVELOPMENT DEPARTMENT

DEVELOPED BY:MOSHIN ABBAS & KASHIF HASHMI

F.M.D P.O , KARACH