#1
4th June 2016, 12:26 PM
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IRDA Rules for Life Insurance Agents
Can you tell me in detail about the Rules for Life Insurance Agents as mentioned by IRDA or Insurance Regulatory and Development Authority in India?
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#2
4th June 2016, 01:51 PM
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Re: IRDA Rules for Life Insurance Agents
The Rules for Life Insurance Agents as mentioned by IRDA or Insurance Regulatory and Development Authority in India are as follows: An agent is one who has undergone requisite training, passed an exam and been duly licensed by IRDA to sell insurance polices to the public and provide after-sales service including assisting at the time of a claim. One’s license may be for life insurance, general insurance or both. In addition to representing one life insurance company and one non-life insurance company one can also represent one standalone health insurance company and Agriculture Insurance Company of India for selling crop insurance and Export Credit Guarantee Corporation of India for credit insurance. When a person is buying a policy please verify the credentials of the agent by asking for license and identity card. Many IRDA licensed insurance agents also represent other financial sector entities like mutual funds or the National Small Savings Organization and help to buy their products and schemes. |