At a time when reducing costs and giving the Indian investor a fair deal is at the centre stage of policy and regulation, the insurance regulator, in a move that is stunning on many counts, has proposed to hike commissions and payouts to sellers of insurance, legitimise illegal payments and bring back hereditary commissions. In the draft rules (read here: http://bit.ly/1RlmiJ9) on commissions released last week, the Insurance Regulatory and Development Authority of India (Irdai) has raised total sales-linked compensation across the board.
Consumer RightsExpense AccountPersonal FinanceJanuary 19, 2016by Monika Halan0How to grab 70% of a premium
IRDAI hikes the peak commission plus incentive rate in the first year to 70%.