The agents of life Insurance Agents' Federation of India (lIAFI) Bhopal Division are on a hunger-strike protesting against the service tax on policy premium and other deductions. Notably, as part of the all-India strike launched by life Insurance Agents' Federation of India, all agents of Bhopal branch of lIC have been staging a relay hunger strike-cum-agents' rest day in front of the branch office. The hunger strike by Bhopal division was launched on March 16 and it will be continuing till March 21.
The president of life Insurance Agents' Federation of India, Bhopal Division Pradeep Rawat said that the county-wide strike by lIC agents has been launched protesting the policy of cut-off from the total premium of each policy holder as surcharge and service tax by the lIC authority since 2014. Besides, another kind of charge called Tax Deduction Cost (TDC) is also taken from every policy holder at the time of maturity of the policy.
He also said that such policies of the lIC have enraged all agents working with the company. Informing more about the details, he said that the agents are demanding the company to stop imposition of these taxes. He said that if such cut-offs will be done in the policies then the lIC agents will never be benefitted. So it is important to stop the imposition immediately.
Further, National President of lIAFI DS Shukla said that for a long time, the agents have been demanding better facilities. The lIC should immediately look into the matter. Moreover, the demands of the federation includes service tax on premium of lIC insurance, TDS deduction, increase in bonus, to restore section of 44 of Insurance Act- 1938, identity card for lIC agents and increase in group insurance.