As the IRDA & SEBI tussle over ULIPs gets into a prolonged battle- it seems to have started claiming its first victims.
In a bid to make Life Insurance sales come closer to the transparency levels in Mutual Funds, IRDA has mandated all Life Insurers to clearly spell out the commission structure on their policies.

This means that any customer would henceforth know how much of his/her first year premium is being pocketed by the sales guy. This could give a lot of bargaining power in the hands of the consumers. As it is, the market is known to have numerous instances of agents passing back a part of their commission to customers to close sales. With this - one can only expect such dubious sales processes to increase.

Not surprisingly, most insurers are unhappy with the move & they feel that such disclosures on margin structures are not really required.

We at BimaDeals, believe in building long lasting and mutually beneficial relationships. Over the last 7-8 months our agent network has increased manifold. With this increasing number of agents we partner with- we want to make sure we appreciate and reward agents who have really helped us in our journey.

With the above background, we announce the BimaDeals Agent Partnership Program (BAPP).

Who all will be eligible:

Are you a Life Insurance Agent ? Would you want to increase your business by getting access to customers who are actively looking for insurance?
If yes- partner with BimaDeals and see your income grow steadily.

Read about - Launch of Agents Partnership program (BAPP) | BimaDeals' Agents Partnership program (BAPP) sees a lot of traction

Archives of Agents Corner:
August 08 Issue