Section 13 in The Life Insurance Corporation of India (Agents) Regulations, 2017
13. Termination of agency.
(1)If an agent fails to bring in the business required of him under regulation 9 in an agency year, his appointment shall stand terminated at the end of such agency year:Provided that nothing contained in this sub-regulation shall apply to an agent who has been exempted under sub-regulation (2) of regulation 9.(2)An agency which stands terminated under sub-regulation (1) may be reinstated by the competent authority, if it is satisfied that the failure of the agent to bring in the business required of him was due to reasons beyond his control.(3)Where an agency is reinstated under sub-regulation (2), it shall be treated as continuous for all purposes.
