The demands of the federation also include withdrawal of the new labor code and implementation of the old pension scheme for employees recruited in Life Insurance Corporation of India (LIC) after 2010.
Life Insurance: Insurance policies in the country may soon become cheaper, for this the Life Insurance Employees Union has demanded from the government. If their demand is accepted then you will get policies like health and term insurance at a much cheaper rate.
Along with this, the employees union has demanded to increase FDI in the insurance sector, this will give you a chance to buy cheap life insurance policies and compare them. Let us know what demands have been made by the Life Insurance Employees Federation.
Employees Federation made this demand
Life Insurance Employees Federation on Saturday demanded withdrawal of GST on insurance premium and no further increase in foreign direct investment (FDI) in this sector. All India Life Insurance Employees Federation (AINLIEF) said that it will launch a nationwide campaign to pressurize its demands.
Addressing a conference of AINLIEF, General Secretary V Narasimhan said that MPs of all political parties will be contacted to support these demands. Representatives from all over the country are participating in the All India Triennial Maha Sammelan.
Demand to withdraw the new labor code
The demands of the federation also include withdrawal of the new labor code and implementation of the old pension scheme for employees recruited in the Life Insurance Corporation of India (LIC) after 2010. Narasimhan said that currently the FDI in the insurance sector is 74 percent and the central government is considering increasing it to 100 percent.
100 percent FDI will happen soon
The Finance Ministry has presented a new proposal to bring revolution in the insurance sector, in which it has been said to increase the limit of Direct Foreign Investment (FDI) to 100 percent. Along with this, amendments like reducing the paid up capital and ensuring the provision of the necessary license for this have been proposed.
