Face Of Insurance

Sales officer of state life

we have pleasure in confirming your registration and hereby appointment you as sales officer (S0) of the corporation within Pakistan under this contract with a legal status of  a supervisory AGENT  ,   which mean a state life agent who procures insurance business for the corporation weather wholly or in part by supervising other state life agent and has a valid and subsisting contract in writing with corporation as either a sales officer or a sales manger(as distinct from the employee under state life employee (service) Regulation ,1973) the effective date of this contract shall be the effective date of your registration.

Sales officer of state life

sales officer duties and responsibilities 

Your appointment is subject to the following term and condition:-

1-the appointment is subject to the provision of the insurance ordinance ,2000 and the insurance Rules 2002 as amended from the time to time and other rules  and regulation framed /by the government and the securities and exchange commission of Pakistan and order and directives issued by the corporation from time to time.

2-your area of operation will be ———but this is not assigned to your exclusively.

3-this contract is issued on the basis of statement and declaration made by you in your application for particular and without prejudice to the generality of the foregoing it is inter alia  based on your statement that you shall remain a bona fide agent of the corporation , which mean you are genuinely , actively and personally engaged in the recruitment,selection supervision  and motivation of senior sales representatives and sales representative .further , you fully meet all requirements of the insurance laws, and comply with all requirement of the corporation .if in addition you engaged doing personal business you do this yourself genuinely and actively.

Sales officer of state life

EXPLANANATION: the onus of proving that you are a bona fide field worker shall be on you in case of any doubt as to whether you are bona fide or not the corporation ,s decision shall be final and binding on you and all concerned.

sales officer qualification

You will be have to appear in person for  such course(S) and /or test (s) and interview(S)as and when required by the corporation .failure to appear for course(s) and /or test(s) or interview shall be construed as an admission on your part that you are not bona fide agent.

You are not permitted to delegate to any person your work as a sales officer or to employ any person for the purpose of carrying out your business as a sales Officer.

EXPLANATION: employment by you of any person to carry out clerical duties as typist, driver, messenger, officer cleaner, or similar work shall not be deemed to constitute employment for the purpose of carrying out your business as sales officer.

If you were appointed as a sales officer on or after 19 August 2000, you must be at least matriculate and registered as at 31 December 2002 with state life .you are required to complete a 3 months Foundation course  as provided under Rules 26(b)(ii)of the securities and exchange  commission (insurance)Rule 2002. In addition , you are also required  to complete MOSC.

Failure to comply with these requirement will make your appointment liable  to termination by the corporation without giving any notice.

For promotion as sales manger ,complete of foundation course MOSC and MMS is compulsory.

You will confirm and comply with such rule order and instruction  as may be issued by the corporation from time to time.

sales officer job description

Your function and duty will be to recommend suitable person for appointment in the corporation as sales representative ( whose legal status will be of a “state life agent”.an agent whose name appears on on the Re of Register of Agents maintained by the corporation to act as agent).and to train , supervise and motivate them so as to yield the best result of business production and persistency.the group of sales representative working directly under your supervision will comprise your “direct unit”.

sales officer skills

You will be recommend for registration and appointment, sales representatives to the corporation as an essential feature of your organization activity but no such a recommendation will by itself confer upon you any right lien claim etc. in regard to the recommendee either at either at the time of registration and appointment or at any time thereafter.

The corporation reserve to itself the right at all time to accept ,reject or modify any recommendations and also to make field disposition in its best interest and in its sole and absolute discretion.

Sales officer of state life

8-(a)  your quota will be produce in every calendar year, through your Direct Unit and personal sales at least the minimum first year premium income and second year persistency prescribed in the attached annexure , which is an integral part of this contract.

(b) if this appointment is made in a month other than January, then this quota in the year of appointment will be reduced proportionately.

Provided that for the purpose of determining whether the productivity bonus and / or the additional productivity bonus described in the annexure are payable, the full  annual FYP Quota described in the annexure shall be taken into account, and not the proportionately reduced quota.

9- your performance will be reviewed on quarterly basis. State life reserves the right to terminate this contract in case your performance is found  unsatisfactory. 

10-   as full you compensation for your services , the corporation agrees to pay and you agree to receive during the currency of the appointment , over riding commission on the premium received by the corporation on policies sold through your direct  unit , as prescribed in the annexure. The corporation reserves the right to amend the rates and when necessary. 

11- provided  that if you also work as a sales representative then the rate of over riding commission respect of business procured by you as a sales representative shall be further subject to the provisions  as laid down in the annexure.

12- on types of policies or riders not stated in the annexure you shall receive commission / over riding commission  at rates as fixed from time to time by the corporation.

13- No commission / over- riding commission rates  will be payable on any premium advanced by the corporation under automatic Non- forfeiture scheme or recovered by the corporation from any maturity, death, survival or any other policy benefit  whatsoever. Renewal commission / over riding commission will however be paid if the policy holder subsequently pays to the corporation the amount  of premium advanced under the automatic Non-forfeiture scheme.

14- if any reason  whatsoever the corporation has to refund or re-adjust the whole or part of  a premium on which  commission/ over riding commission has already been paid to you, you shall refund to the corporation the commission / over-riding commission paid thereon.

15-if a policy(ies) has been surrendered, or converted into a paid-up policy (ies) (Under automatic Non-forfeiture scheme or otherwise ) within a period of six months before or after the date of issuance of a new policy(ies) on the same life, commission /over riding  commission on the new policies  will be paid only in respect o that amount of first premium of the policies so surrendered  paid up etc.

16- the corporation shall have right  to sett of against  any commission / over riding commission due to you  and adjust there from the amount of any debt, obligation, misappropriation/ wrong appropriation of premium or liability due or  owing from you to the corporation.

17- you are not authorized collect premium  or any other moneys  whatsoever on behalf of the corporation or bind the corporation in any way, or issue any receipt, acknowledgement or discharge or waive any requirement on behalf of the corporation. If despite your lack of authorization from the corporation, you receive any premium or other money from a policy holder and duly fail to pay it into the corporation, then under rule 25 of the securities & Exchange  Commission (insurance) Rules, 2002, read the sections 405 and 409 of the Pakistan Penal Code, you may become  liable to criminal imprisonment upto 10 years and fine.

18- you shall not advertise or circularize on behalf of the corporation any material or information in any manner whatsoever, without first obtaining written approval of the corporation.

19- you will be required to submit a statement  and declaration on the prescribed  from each year for renewal of your registration to act as State Life Supervisory Agent. The statement and declaration can be filled not more than one month earlier and not later than

after its due date.

20- your name will be struk off from the Register of Agent and this appointment shall terminate ipso-facto if;

  1. You become disqualified to act as a ‘’Supervisory Agent “ for any reason.
  2. You fail to apply to the corporation for renewal  of registration and/ or submit declaration Form within [90] [see note-2] days after the expiry of your registration.
  3. You become director of any life insurance company.
  4. After proper enquiry you are found guilty of:
  5. Criminal misappropriation, criminal breaches of trust, cheating or forgery
  6. Fraud
  7. You are declared insolvent by a court of law.

21- This appointment shall be liable to termination by the corporation without giving any notice if:

  1. You faild to complete the required quota as prescribed by the corporation.
  2. Your  direct units second year persistency  ratio is less than the ratio prescribed by the corporation in the annexure.
  3. You fail to pas within specified  time limit(s) any training courses prescribed by the corporation.
  4. You fail to appear in courses  and or tests  and / or interview (s) as and when called by the corporation.
  5. You are found working directly or in directly  for any other insurer transacting life insurance  business or working as an employee  of any employer.
  6. In the opinion of the corporation , you actedin a manner prejudicial to its interest or to the interest  of its policy holder.
  7. This appointment can also be terminated by either party by giving one month’s notice in writing to that effect to the other party Thereupon your name shall be struk off the register and the payment of over riding  commission shall cease subject to any expectation as may by the prescribed by th corporation from time to time.
  8. On your death before retirement (Allah Forbid) on the corporation’s register, or on your death after  you retired under para 24 below , commissions / over- riding commission that you would have drawn had you been alive may be paid to your nominee.

For this purpose, a valid nomination made by you should be on the record of the corporation.  The nominee shall not be a person other than the following relatives of yourself, namely  a spouse  father, mother, brother, sister and son or daughter, including a step or adopted child.

The nominee shall be an adult at the date of the nomination.

You may change your nomine at any time by depositing a fresh nomination  with the corporation.

Payment by the corporation  to a nominee on record shall  constitute a complete discharge  to the corporation.

Provided that in  the case of death before retirement while on the corporation register, payment  shall be subject to the amount payable being at least Rs. 1,000 per annum.

  •  a)  you may apply for  retirement if you have fulfilled all the following conditions;
  • You have reached the age of 60, and have been a successful field worker with the corporation for the previous 6 consecutive calendar years.

EXPLANATION; field  worker includes sales Manager ,Sales Officer and sales Representative


    You have not reached  the age of 60. But have been a successful field worker with the corporation for the previous 10 consecutive calendar years.

                2) your renewal over riding commission in the immediate preceding  calendar year in respect of                                third and later policy years was at least Rs.3,000.

                 3) you do not wish to do any more new business

Acceptance of the application shall be at the sole and unfettered discretion  of the corporation.  

(b) On acceptance of your application ,you will be transferred to the Register of Retired Field workers. You will be continue to draw your renewal commissions ,so long as the amount remains at least Rs1,000 per annum.

Provided that payment of Renewal commission shall cease if in the opinion of the corporation you have started to work in any capacity whatsoever in Pakistan for another insurer doing life insurance business.

25-in case of any doubt or dispute whatsoever arising out of this contract or on question of interpretthe decision of the corporation shall be final and binding.

26-the corporation shall have the right to amend the term of this contract by giving you written notice.

27-the corporation at its sole discretion may grant any relaxation on any of the term and condition of this contract in the interest of the corporation . this may however not be taken as the right conferred  on you for claiming the benefit of relaxation at any time.

28-this contract terminates and supersedes any contract or agreement that may have existed between you and this corporation or bema unit (s)  or any life insurer  whose business  was nationalized  under president’s order No.10 of 1972.

29- your registration  to act as state life supervisory Agent is only for one year and is renewable eligibility to act as state life’s supervisory Agent.

30-this contract is being issued to you in duplicate. Please it as a token of your acceptance to the terms and condition of your appointment and turn it for our record.

Sales officer of state life



With  ffect from 01. 01.2002, annual First year Premium quotas (FYP)  for a S.O. shall be ‘’ first policy year premium incomw of Rs. 200,000/- per calendar year through his direct unit “ The Annual FYP quotas stated above shall after every three  years be automatically increased by 25% and first such increase shall be made with effect from 1st January 2005 i.e with effect from 01.01.2005, the annual FYP quota for a S/O/ shall be Rs. 2,50,000/- which shall remains effective till 31. 12. 2007 and will again increase by 25% with effect from 01.01.2008 and so on.

6% OF First Policy Year premiums under Group Insurance Policies  and 6% of all single premium policies including annuities and Term Insurance  shall be counted towards the Annual FYP quota. In addition, where the group policy is one under which the rates of commissions or Over- riding commission are in the same first second and  later policy years, 6% of premium in respect of second and later policy years shall also be counted towards the annual FYP quota.

Sales officer of state life


 The second year persistency ratio requirements shall be as fellows:

The second year persistency Ratio requirements

Year Second year persistency Ratio requirement
2002 65%
2003 70%
2004 and later years 75%
  • The SO shall be allowed to do personal business to the extant of 50%of his total FYP production in the first year of his promotion as a SO.
  • In the second and later policy years of his tenure as a SO his total personal production shall not exceeds 50%  of the total FYP generated  by him. However, the rest of the50% shall procured through at 2 bona fide SRs.
  • Provided the requirements of  (a) 0r (b) are met, he would be entitled to SR Basic Commission on his personal business plus the earned rate of SO ‘s Basic Over-  riding commission, Productivity  Bonus  and additional Productivity bonus
  • In case his personal FYP exceeds 50% of his total FYP, then he shall be entitled to SO’s Basic Over-Riding commission, productivity Bonus and additional Productivity Bonus on the FYP exceeding 50%. Only the SR Basic Commission shall be paid on the said exces.

zahid lar

hard working is key to success

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