Recently IRDA has announced new restriction for the Insurance agents. The following are the restriction and rules should be followed by agent and the insurer.
- With the new announcement, agents cannot change the insurance company very frequently.
- Every agent has to stick with the same company for at least three years, then only he can move to another company to sell the policies.
- Moreover, he has to get the certificate from the current employer to join the another company.
- They must submit the all the details of the policy holders and contact details before leaving the present insurance company.
- Once the agent left the company, Insurer must arrange alternative agent to server the policy holders.
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October 9, 2010 at 2:15 am
Dear sir,
I have a doubt please clear the doubt.
A agent he gave application to a development officer to training.
The insurance company send application to divisinal office. For a reason he didnot interest to work under development officer so
he didnot attend 50 hours training. Then he gave application to
cheif life insurance advisor. He like to work under clia. After can he
attend the 50 hours agent training?. If ask the clia to principal the principal say he cannot attend the training.Because alredy he has given application through a development officer he will get URN number. so he cannot join clia and attend the training.Please send
reply to my mail id. Thanking you
December 7, 2010 at 12:25 am
i am an agent in max newyork life insurance since last 4yrs 11months.what if i cannot complete my target in the last month will my agency be cancelled and will i receive the commission after that or will the commison get stopped
pls reply asap
Regards,
SR Shah
February 3, 2011 at 10:11 am
i am complted 7 years then also company hold my renwal Commission what to do
August 19, 2011 at 2:31 am
Hello goodafternoon
i prashant mishra with license no. 00236945.ok i want to ask that i’m receiving this code in 2007.so whatever no. of policy i had sold on the behlf of icici pru on that time i’m not eigible to got my commission as per the regulation of irda after terminaton. on that time
November 4, 2011 at 2:08 am
I am an Advisor in BSLI (Birla Sunlife Insurance Company Ltd.) from 23rd August 2007 my license was expired on 22nd August 2007. My commission BSLI hold my commission from last 6 months. I had also completed minimum policies Criteria. But amazingly till today (04.11.2011) they have not cleared the commission, reason don’t know. Whenever i made inquiry with my Agency Manager, he told me that, my commission will be cleared in next month’s pay out cycle. But after 2 pay out cycles also i did’n,t get it. So kindly suggest me what to do? BSLI peoples are not positive to pay my commission.
Pls reply
MANISH VORA
October 4, 2012 at 10:37 pm
Sir,
I am life insurance adviser with MAX LIFE INSURANCE COMPANY LTD FROM 17 AUG 2005 i have completed 7 year this year but from Jan 2012 i am unable to contribute any policies so my question is will i get my commission for past 7 years or not .
Thanks
RUCHI MEHRA
June 22, 2012 at 10:54 pm
I am Life Insurance Adviser, I give my first own policy to Company on Feb. 2012, then I make 3 policies. I received my commission all policies except my own policy. I complent my SM & BM he says me Rule No. 16B. The rule is – - When I make other six policies then my commission is credited my account. please guide us