Jun 21, 2017
Updated by sdrao302 The mail I sent to Hyderabad Maangement(Akmal Basha, Murali Poosa, Prashant THota, Sanjay Kumar, Shyam Prasad[protected]
Dear Mr.Akmal,
Post to Mr.Shailaditya’s meeting/LPs Roadmap meeting held on 8th June 2017, please find below the representation on behalf of the Life Planners(LPs) for the reimbursement of PDAs (Professional Development Allowance) for the business done up to 31st March 2017.Please escalate as required and help us in resolution.
During Jan/Feb/March 2017, all the LPs were doing the business aggressively as we were told that we can reach/exceed our PDAs target. We were even given the calculations through various messages/promos/oral commitments. Based on which Policies were submitted by us (thinking that we will be paid INR 6000/- month – for number of months as per the EP (Eligible Premium))
For example, I did INR 2, 60, 000/ EP, that is sufficient for my three months PDA (INR 6, 000*3=INR 18, 000). If any month inactive- INR 500 will be deducted from INR6000.
However, In April 2017, LP Road Map Presentation, we were told that there are some changes of rules. All the business done up to March is Lapsed (EP is not transferred to next Financial Year- April 2017-Mar 2018) and new ‘’goal sheet’’ provided etc... However, we thought that the PDA will be paid as the rules applied to the Contract (insurance Policy and the PDA) fall in previous financial year up to 31st March 2017.However, we received just 5500 recently and were told that we do not receive PDA fo additional business done up to 31st March .How can TATA AIA impacts backdated payments by introducing a new rule in April?
We had various meetings in May 2017(23rd and 24th) with Mr.Shyam/Mr.Akmal/Mr. Murali and you all agreed to escalate the issue for a resolution .Again we had a meeting (Larger group of 70+) with Mr Shailaditya on 8th June 2017. He also agreed to take the lead and will try to resolve the issue within 15 days.
Since Policy submissions are pursued with the additional benefits, so both (Policy and other benefits promised)are tied together. We are told that past submitted Insurance policies cannot be taken back as ‘’free look period is complete . PDA payment is also not given. Anyway impacting our benefits. It is unethical and going back on promises that were made. If there is a policy change it should not be done to impact the backdated transactions.
Appreciate your help in this regard. It has been delayed a lot and we are looking forward for an early resolution of payments promised in PDAs for the business upto 31st March 2017
Thanks
