What constitutes the commission structure applicable for life insurance companies
One of the major changes in insurance rules effected by the Insurance Laws Amendment Ordinance is scrapping of section 40A Read more
1938
IRDA Circular: Directions under Section 34 of the Insurance Act, 1938 In the matter of M/s SBI Life Insurance Company Limited
Whereas Clause C-4 of Guidelines on Group Insurance Policies given in Circular No. 015/IRDA/Life/Circular/GI Guidelines/2005 dated 14th July 2005prescribes that there shall be no other payment whether as management expenses or documentation expenses or profit commission or bulk discount or payment of any description, to the agent or corporate agent or group organizer or group manager. Read more
