Insurers told to reveal commission details

In a measure of conciliation in its ongoing turf battle with capital market regulator Sebi, the Insurance Regulatory & Development Authority (Irda) has asked life insurers to disclose the amount of commissions they are paying to the agents on unit-linked insurance plans (Ulips). In a circular issued on Tuesday afternoon, Irda said that all the life insurers will have to mention the exact amount of the commissions they are paying to the agents while selling Ulips to customers. The commission has to be mentioned in the very illustration which is mandatory for an agent while selling Ulips to a customer, ...

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