LIFE INSURANCE CORPORATION OF INDIA

CENTRAL OFFICE

“Yogakshema”
Jeevan Bima Marg,
MUMBAI – 400 021.

Ref: Mktg/ZD/31/2006 12.9.2006.

TO ALL ZONAL MANAGERS, OFFICERS IN-CHARGE

OF DIVISIONS, ZTCs, MDC, STCs AND AUDIT CENTRES.

Re: Advance to Development Officers for purchase of

Laptops and Desktops

Kindly refer to our Circulars Ref. Mktg/ZD/75/2002 dated 7.11.2002 and

Ref. Mktg/ZD/30/2003 dated 3.5.2003 detailing the conditions for grant of
interest free advance for purchase of Laptops subject to fulfillment of the
eligibility conditions and the relaxations that can be allowed by the Competent
Authority in the eligibility conditions.

The matter has been reviewed and it has been decided to grant advance for
purchase of Laptop OR Desktop as detailed hereunder:

1. The Development Officers shall be granted interest free advance for

purchase of Laptop or Desktop provided he/she has brought in First
Premium Income of Rs. 15 lakhs and above under Individual Assurance
business excluding Single Premium and Annuity/Pension Policies in each
of the last two financial years.
2. The advance shall be restricted to Rs. 60,000 (Rupees Sixty Thousand
only) inclusive of all taxes for purchase of Laptop and to Rs. 36,000
(Rupees Thirty Six Thousand only) inclusive of all taxes for purchase of
Desktop.
3. The Competent Authority can allow condonation of shortfall upto 20% in
both the years taken together.
4. No advance should be sanctioned for purchase of Insurance related
software.
5. No advance should be sanctioned to a Development Officer who is
attracting disincentives as per Special Rules, 1989 even though he has
fulfilled the eligibility conditions for purchase of Laptop/Desktop.
6. The advance for purchase of Laptop/Desktop shall be repaid in 60
monthly installments.
7. After the grant of advance if the Development Officer does not fulfill the
stipulated conditions in the next financial year, then interest shall be
charged @ 9% on the balance amount. If in the subsequent years, the
Development Officer fulfills the conditions, then no interest shall be
charged for that particular year. The reduction in the interest rate shall also
be applicable in respect of advances granted for purchase of Laptops
before the issue of this Circular.
8. All the other provisions for grant of advance for purchase of Laptop as
mentioned in our Circulars dated 7.11.2002 and 3.5.2003 remain
unaltered. The same provisions shall also be applicable for grant of
advance for purchase of Desktop also.

Executive Director (Marketing)