Many countries with high insurance penetration and density do not charge any tax or less tax on individual health insurance policies, said the general insurance agent association.
Life insurers will have leeway to pay up to 100% of the annual premium as first year commission to agents on term policies having premium paying term of at least 10 years.
IRDAI has asked insurance companies to build infrastructure for sharing information with account aggregators after proper authentication of investors’ consent.
Trinath Lenka, who runs insurance marketing firm is on the 24-member-committee that would suggest IRDAI to develop a new distribution channel ‘Bima Vahak’.
