Mr. Nawneetlal Chaganlal Chandak Past President of LIAFI was "Born in Banwari, Madhya Pradesh" on 06th June 1941. He joined LIC of India initially as a staff member. He took up Staff Agency and started business in the year 1959. Today he is one among the senior most Agents of this country who is extremely active in business as well as the Federation Activities.
Mr. Chandaks Grand father was a freedom fighter and a social worker. His father was leading the employees organisation in his office. Thus the attitude of service to the fellow beings has come into Mr. Chandak by blood. No wonder he always stood in the forefront for the cause of fellow Agents.
He was the first Chairmans Club Member from Nagpur city in the year 1979 and is now a Life Member. He received Gold Medal from the Chairman of LIC for highest business from Nagpur Division in the year 1985-86.
He qualified for the Million Dollar Round Table in the year 1987. He was invited by National Association for Life Underwriters (NALU) an organisation of Life Insurance Agents of the United to attend its Centenary Celebrations in Boston City of USA in September 1989.
He was Secretary General for LIAFI for 5 years during the period 1991-96. On behalf of LIC Agents, Mr. Chandak gave evidence before several committees appointed by Government of India from time to time. These committees included Era Sezhiyan Committee (1979), Moolchand Daga Committee (1984), Malhotra Committee (1979) and Ganesan Committee (1995). He also presented himself before Insurance Regulatory Authority IRA prior to the formation of IRDA on various occasions representing the Agents. He now keeps in constant touch with concerned officials of IRDA to update himself as well as LIAFI leadership at various levels about the regulatory views and changes on Life Insurance matters.
He has participated in a number of Joint Consultative Committees with LIC Management and negotiated with the management the necessary terms for the benefit for Agents Community. His suggestions to the management on Agents Regulations, Career Agency Scheme, Rewards and Remuneration to the Agents were proved to be of immense value for the Agents at large. His representation before some of the committees has been helpful to Agents in convincing the Committee to restrain it from suggesting reduction in Agents Commissions.
His historical meeting with Mr. Henry S.Ingram, Vice President of John Hancock Mutual Life Insurance Company in 1989 has helped him to bring out a report on Stipend to newly recruited agents. The report was submitted to LIC which resulted into a sizeable increment in the stipend being paid to the Career Agents of LIC.
A simple person with profound knowledge, Mr. Chandak is of a strong opinion that Life Insurance Agency must be a full time profession. This will help the country in eradication of unemployment and professional services to the Policy Holders. Mr. Chandak also opposes the Institutional Agency. He is of the firm opinion that when Insurance is a matter of Solicitation, only an individual agent can do the job and not an institution which is inhuman. He advocates a strict vigil on the institutional sales of policies since there is a vast scope for wrong sales practices.
With respect to the Policy Holders Service Mr. Chandak has great concern. He pleads that in case a policy is kept in force for a period of 5 years or more prior to death of policy holder, there must be no scope for the insurers to repudiate the claim and the claim must be settled honorably within shortest possible time.
A Graduate in Commerce and a Law Graduate by qualification, (B.Com, LL.B), Mr. Chandak has great concern for the fellow LIC Agents. He is always on the look out to understand their problems and find out ways and means to find solutions for the same.