Announcing Partners Sales Training Convention – June’23

Eligibility : All Partners

Criteria
Parameters : PBC, Coding & 13th Month Persistency

Designation : Designation as on 1st of June 2023

Level wise weightage till L2 (Direct 100% | L1 – 50% | L2 – 15%)

Gate: 1 Code from Direct team or Indirect team. Code has to be Active by M2
 Contest Period Issuance by Designation WFYP (Lacs) Reward

1st June – 30th June’23 10th July’23 AABP 5

ABP 7
Invite for 1
SABP 9 Sales Conference
@ Cordelia Cruise
EABP 11
LABP 13

• 13th Month Persistency Gate : Minimum 80% on premium

Standard Terms and Condition apply
Sales Training Convention @ Thailand

Contest Period Issuance by

1st June – 30th June’23 10th July’23

Designation WFYP (Lacs) Reward

AABP 8
ABP 10
Invite for 1
SABP 12 Sales Training Convention
@ Thailand
EABP 14
LABP 16

• 13th Month Persistency Gate : Minimum 80% on premium

Standard Terms and Condition apply
Sales Training Convention @ Barcelona

Contest Period Issuance by

1st June – 30th June’23 10th July’23

Designation WFYP (Lacs) Reward

AABP 16
ABP 18 Invite for 1
Sales Training Convention
SABP 20
@ Barcelona
EABP 22
LABP 24

• 13th Month Persistency Gate : Minimum 80% on premium

Standard Terms and Condition apply
Standard Terms | Contest criteria
Terms :
❑ CCD : Contract Commencement date :
Policy wise CCDs are taken from Qliksense dashboards such as policy proposal and Dues Vs
collection. It is also available in updates shared by persistency helpdesk department
❑ Due Date : Date upto which policy is paid
❑ 13M status : if Due date – CCD > 365 : Paid else Not paid
❑ Grace period : By default grace period of 1 month is applicable on policies
❑ Activation Definition: Activation is counted when a life advisor (LA) achieves minimum Rs.25,000
PBC in a month or 1 Term Annual Mode Policy >= 25 Lacs Sum Assured
❑ Qualifiers of Apr-May contest will be eligible for equivalent GV/Cash in case of qualification for same
destination in Jun contest
Calculation :
For contest period we give one month grace period/relaxation along with conversion extension period.

Contest period CCD period Last collection date

Jun’23 Jun’21-May’22 10th Jul’23

Standard Terms and Condition apply

Important Definition
FYWRP - FYWRP stands for First Year Received Weighted Premium after applying a 10% credit to single received premium business. FYWRP is derived by
summation of first year first premium (FYFP, which is the first premium instalment received under any policy) along with first year collections (FYC, which
essentially are collection of premiums due between 2nd and 12th month of any policy) as and when received, less reversals received in the month due to look-in
cancellation and withdrawals after conversion.

FYFP - As the name suggests, FYFP is the first instalment 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.
Please note that Service Tax & Education cess component of the premium will be excluded.

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 - stands for First Year Net Received Premium. FYNRP is derived by summation of first year first premium (FYFP, which is the first premium instalment
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.

Net Net EPI - Expected premium income defined in terms annualized new business premium with weightage to regular premium as 100% and single premium as
10% less business reversals due to Look-in Cancellation , Alter from Inception or withdrawal after conversion for the current and previous FY business

PBC stands for Product Business Credits and 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 of any year
as per the original product credits.
Standard Terms and Conditions
The terms and conditions mentioned hereinafter refer only to the contests launched by DPPM department which are applicable for Employees of the HDFC Life and none of the clauses will have any bearing on any other form of vari
able pay-outs for Employees.

▪ Participation and qualification in contest will be considered as acceptance of terms & conditions defined in presentation and or related communications of the contest

▪ Policies logged in and converted as per the defined contest dates will only be considered; for converted policies the status in Life Asia should be reflecting as “IF” (In Force). Login date is same as Life Asia proposal date w
hich corresponds to application submission date in TEBT

▪ Designations as per contest start date HR headcount report will be considered as final for the contest and all who are appointed in respective designations during the applicability of the scheme will be considered for contest.

▪ Any proposals pending as of start date of the contest, if withdrawn/change in product will be negated from the received premium achievement of that FLS/ESL in the contest (except for rate-up, postpone, decline cases)

▪ Product Credits if specified in the contest and or as defined in the product credit document for the respective contest period will be applicable

▪ “Qualifier” is the Employee who achieves the laid achievement criteria within the duration of the contest

▪ The rewards/travel (falling in the definition of perquisites) are taxable as per the applicable tax laws and will be borne by the qualifier.

▪ In case there are qualifiers who have qualified for travel for a particular destination and travel is not possible at the time of execution, company reserves the right to give alternate reward of equivalent v
alue

▪ In case an Employee has qualified for additional travel tickets, only immediate family members are eligible to accompany the qualifier in the travel. Relationship of traveler with qualifier should be certified by VP or above. Note
: Main traveler has to be the Qualifier.

▪ If the reward is 2/4 wheelers, the Company will bear the cost of the same to the extent of ex-showroom price of the base model in Mumbai. Any other taxes, charges, etc. will have to be borne by the qualifier only

▪ The Employee should not be on notice period, in terminated status or in enquiry of fraud at time of fulfilment of reward(s); else the rewards will be forfeited. Any incident(s) of Warning Letter will also lead to forfeiting of rewar
d(s) in case fulfilment is done within 6 months period from date of warning issued.

▪ Advance premium of Monthly policies will not be counted as received premium

▪ Please note that GST, Education Cess & any other applicable tax component of the premium will not be included in the received premium

▪ For contest with reward choices, if an Employee does not revert with the choice during the choice period, default reward will be given

▪ For all qualifiers, policies considered for this contest will be checked 90 days post the final result for negations, and achievement will be recalculated. Rewards will be clawed back / changed as applicable in case the achievemen
t doesn’t meet the contest criteria or the achievement itself changes. Rewards can be changed basis exception approvals as well, kindly refer to the refreshed list of FR published by BI.

▪ Exceptions to be raised within timelines defined by the Channel / DPPM / BI as applicable, post which none of the exceptions will be entertained

▪ The contest will expire in entirety after 180 days from the start date of the contest with the submission of the final accounts. All claims relating to achievement shall be put forth to the DPPM(R&R) 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.

▪ Company reserves the right to claw back the given reward in case of cancellation of any policy considered in the contest on account of look-in, cheque bounce, customer complaint etc. even after the contest period and or fulfill
ment

▪ The Company reserves the right to insert, alter or withdraw any clause of the contest or the contest itself without any prior notice. In such an event post facto notification would be sent to levels at or above L2 levels of respecti
ve channel by DPPM (R&R) department
All the Best for June’2023
Standard Terms and Condition apply