Agency Mentor

Incentive Scheme
Financial Year 2019-20
 Agency Mentor Incentive Scheme

FYNRP will include following cases :

 Login from 01st April’19 to 31st March’20 and conversion till 10th April’20

 Login on or before 31st March’19, converted till 10th April’19, having modal premium either Monthly / Quarterly /
Half Yearly will be considered in current year’s scheme (i.e. premium received from second and consecutive
installment onwards for year 1)

 Hence any login on or before 31st March’19 but not converted till 10th April’19 will not be considered in
either of the schemes i.e. last year FY 18-19 or current year FY 19-20
 Monthly Incentive Scheme (1/2)

FYNRP Gross Reward % of FYNRP

Slab No. of Active FCs*

1-2 3–4 5-6 7-9 >= 10

Less than 50,000 0.00% 0.00% 0.00% 0.00% 0.00%

50,000 < 1,00,000 2.00% 5.00% 0.00% 0.00% 0.00%

1,00,000 < 1,75,000 2.25% 5.25% 7.25% 0.00% 0.00%

1,75,000 < 2,50,000 2.50% 5.50% 7.50% 9.50% 0.00%

2,50,000 < 3,50,000 2.75% 5.75% 7.75% 9.75% 10.75%

3,50,000 < 5,00,000 3.00% 6.00% 8.00% 10.00% 11.00%

5,00,000 < 7,50,000 3.25% 6.25% 8.25% 10.25% 11.25%

7,50,000 < 10,00,000 3.50% 6.50% 8.50% 10.50% 11.50%

10,00,000 < 15,00,000 3.75% 6.75% 8.75% 10.75% 11.75%

15,00,000 and Above 4.00% 7.00% 9.00% 11.00% 12.00%

*Active FC’s definition: FYFP (without product credit) of Rs. 25,000/- in a month through single or multiple policies
 Monthly Incentive Scheme (2/2)
Click 2 Invest (C2I) Credit:
Non UL credit – 100% UL Credit – 100%  With Combo – 25% of FYFP
First Year Net  Without Combo – 0%
Received Premium
[FYNRP] Immediate Annuity / QROPS
Single Premium – 10%
– 7.5%

 Payout will be as % of FYNRP [First Year Net received premium] generated in the month.

 FYNRP will be calculated as per the credit mentioned above. For C2I credit on combo policy refer the policy of C2I and Sanchay /Sanchay Plus Combo mix.

 Month is defined as every calendar month and not from the date of coding of Agency Mentor [AM]

 Payout will be released on monthly basis post deferment period. Deferment period starts from the last date of conversion considered for that monthly’s achievement

 70% of monthly payout will be released immediately (post deferment) and balance 30% of payout will be released subject to renewal premium >=80% (Renewal premium will be
calculated as total due (all policies soured in FY 19-20) v/s collection). Renewal Payout will be released to the proportionate of the persistency. Last month to check the
persistency is Jun’21

 Note: In case Agency Mentor qualifies for High Productivity Bonus [HPB] Payout then all the monthly payout and annual payout earned would be negated from the HPB scheme
payout (including the payout kept on hold as renewal payout). HPB excludes the payouts earned by Agency Mentor for Distribution and Licensing schemes.

Business done by team of FCs mapped under AM will be counted for monthly incentive slab
 Annual Incentive Scheme
FYNRP
Gross Reward % of FYNRP
Slab

Less than 10,00,000 0.00%

10,00,000 < 15,00,000 7.00%

15,00,000 and Above 8.00%

Click 2 Invest (C2I) Credit:

First Year Net Non UL credit – 100% UL Credit – 100%  With Combo – 25% of FYFP
Received Premium  Without Combo – 0%
Immediate Annuity / QROPS Single Premium – 10%
[FYNRP]
– 7.5%

 Payout will be as % of FYNRP [First Year Net Received Premium ] generated in FY19-20 less all monthly payouts earned in FY 19-20 (including renewal payout which would be
paid in next year)

 Annual scheme payout will be released year end post deferment period. Deferment period starts from the last date of the conversion considered for that years’ achievement

 70% of annual payout will be released immediately (post deferment). Balance 30% Payout will be released subject to renewal premium >=80% (Renewal premium will be
calculated as total due (all policies soured in FY 19-20) v/s collection. Renewal Payout will be released to the proportionate of the persistency. Last month to check the persistency
is Jun’20

 Note: In case Agency Mentor qualifies for High Productivity Bonus [HPB] Payout then all the monthly payout and annual payout earned would be negated from the HPB / HPB
SP scheme payout (including the payout kept on hold). HPB excludes the payouts earned by Agency Mentor for Distribution and Licensing scheme.

Business done by team of FCs mapped under AM will be counted for annual incentive slab
 Definition of FYNRP
 FYNRP stands for First Year Net Received Premium. FYNRP is derived by summation of first year first premium (FYFP, which is the first premium
installment received under any policy*applicable product credit) along with first year collections (FYC, which essentially are collection of premiums due
between 2nd and 12th month of any policy*prevailing product credit) as and when received, less reversals received in the month due to look-in
cancellation, withdrawals after conversion and lapsation between 2-24 months as per the prevailing product credits.

FYFP - As the name suggests, FYFP is the first installment premium received in the first year of the policy. E.g. In case of a policy with annual mode of
Rs 25,000, the FYFP is Rs 25,000. Similarly for a policy with monthly mode of Rs 10,000, the FYFP will be Rs 10,000. Single premium policy will be
given 10% credit. Policies with less than Rs 2,000 received premium will not be considered

FYC – FYC stands for first year collections which is the premium collected after the first installment premium in the subsequent month/quarter/half year
(depending upon the mode) in the first year of the policy. These essentially are the collection of premiums between 2nd to 12th month of any policy as
and when received. E.g. In case of a policy with monthly mode of Rs 10,000, the FYC will be Rs 10,000 for each month where the premium is received
from the 2nd to 12th month of the policy.

FYNRP is calculated as follows:

FYNRP = ((FYFP * Product Sales Credit) + (FYC * Product Sales Credit)) – (look-in cancellation, withdrawals after conversion and lapsation between 2-
24 months as per prevailing product sales credit)

Note: In case any advance premium is paid under any policy, the same will be considered as FYC as and when the premium is settled. Top-up
premiums will not be a part of FYNRP.

Policies with less than Rs 2,000 received premium will not be considered (Except cancer care, easy health and cardiac care). Please note that Service
Tax & Education cess component of the premium will be excluded in the (FYNRP). Product Credits may vary at certain intervals. The same will be
communicated to circle Heads and above.
 General Terms and Conditions

 Monthly / Annual scheme benefit will be in the form of Gross rewards. Gross reward points will be allocated post the deduction of applicable taxes at
the time of uploading points

 Scheme includes all policies converted in FY 19-20 or credit date of FYNRP is in FY 19-20 (excludes policies login on or before 31st Mar’19). However
cases considered in any of the past schemes applicable in FY 18-19 and benefits provided to FCs / AMs will not be considered for calculating FYNRP
achievement in this current scheme.

 For all qualifiers, policies considered for this contest will checked 90 days post final result for negations and achievement will be recalculated.

 The contest is open to all AM of the Agency channel. If an AM ceases to be a AM with HDFC SL or has given notice, the eligibility of rewards will cease.

 The scheme is administered on pre-decided frequency as deemed fit by HDFC Life on a time to time basis. The company reserves the right to insert,
alter or withdraw any clause of the scheme or the scheme itself without any prior notice. In such an event post facto notification would be sent to the
levels at or above Circle Heads of Agency channel by DPPM (R&R) department.

Overall persistency would be applicable to calculate ‘Persistency withheld clause’. AMs sourced >=95% of single premium in FY 19-20 will not be
applicable for persistency clause.

All transactions till the 10th of subsequent month of Mar’20 / year end conversion date as decided by company shall be considered in the current month
except fresh login from 1st to 10th of subsequent month and all transactions considered in the previous month unless specified otherwise.

 Contest negations includes benefit offered for MDRT and SPC in FY 19-20
 General Terms and Conditions

Scheme qualification will be reviewed on quarterly basis. Post completion of 90 days of a quarter, qualified AMs will be rewarded . Rewards will be
clawed back in case the final annual achievement doesn’t meet the contest criteria.

 Treatment of Look-ins and Cheque Bounce: For calculating FYNRP, look-ins within the free look-in period as well as Cheque bounce cases will be
reduced from the WRP achievement and First year commission and then the relevant slab will be determined.

 Carry Forward of negative FYNRP: Any negative FYNRP of previous years will be carried forward to the current year scheme for FC Qualification in this
scheme (higher of credit provided in previous year under different schemes would be applicable to carry forward the negative FYNRP)

 All points uploaded for this contest during the scheme period i.e. every quarter would be negated from the final HPB / HPB SP payout. This is also
applicable in cases wherein FCs points are forfeited as per malpractice matrix.

 The contest will expire in entirety after 180 days from the end date of the contest with the submission of the final accounts. All claims relating to
achievement shall be put forth to the Agency department within 10 days of the final result declaration. Post the expiry of the contest the company will not
be liable to settle any claim in any manner.

All the Best!