In my previous article I have written about the proposal on removing the insurance agent commission by D Swarup, the chairman of the Pension Funds Regulatory & Development Authority (PFRDA). Also I have mentioned that agents are the key to getting the more business for the insurance companies and they are the key driving factor. As per the statistics, still 90% of the Indian population without the insurance policies. We should encourage the insurance agents by paying more commission.
In the same way Insurance Regulatory Development Authority (Irda) is thinking and will dispose the proposal. They are not very much interested on removing the commission for the agents.
To reiterate that commissions are the best way, a national-level rally of insurance agents is scheduled for December 2, 2009, organised by the Life Insurance Agents Federation of India.