IndiaInsurance
3rd June 2010, 08:15 AM
Commissions are necessary to sell insurance products. Someone has to sit down and explain the product to the consumer, understanding his needs. To assume these products will be sold without a commission, which varies between 4% and 8% in case of Ulip products, is not comprehensible. Insurance is a long-term saving instrument and financial advisors need to be compensated. Irda has laid down guidelines on disclosures of commission. I believe that the two regulators will arrive at a conclusion soon.
More... (http://in.biz.yahoo.com/100602/50/bavpp4.html)
More... (http://in.biz.yahoo.com/100602/50/bavpp4.html)