INSURANCENo. of comments:13 suda bhanu prasad, kakinada., 61512 On 05-Mar-2014

HI, MANY OF US LIFE INSURANCE AND GENERAL INSURANCE AGENTS. IN MUTUAL FUNDS WE CAN OFFER ANY AMC PRODUCT TO CLIENTS BASED ON CLIENT NEED. BUT WHEN IT COMES TO LIFE AND GENERAL INSURANCE ACCORDING TO IRDA WE CAN SELL ONE LIFE AND ONE GENERAL INSURANCE PRODUCTS. BECAUSE OF THIS WE MIGHT BE TEMPTED TO SELL WRONG EVER CLIENT DOES NOT NEED. SO, JUST LIKE AS IN MF IF IRDA ALLOWS TO SELL ALL LIFE AND GENERAL INSURANCE PRODUCTS. WE WILL ANALIZE ALL THE PRODUCTS AVAILABLE AND SELL WELL SUITED PRODUCT TO OUR CLIENTS. FOR EXAMPLE IN LIC OF INDIA TERM INSURANCE PREMIUM IS TOO HIGH WHEN COMPARED TO OTHER PVT LIFE INSURANCE COMPANIES WITH ALMOST SAME CLAIM SETTLEMENT RATIO. BUT A LIC AGENT CAN NOT SELL OTHER LIFE INSURANCE PRODUCT. WEALTH USE TO SOLVE IFA PROBLEMS. RECENTLY BECAUSE FORUM IFA NOMINEE NOW WILL GET MF COMMISSION. SO, I REQUEST WEALTH FORUM TO TAKE UP THIS ISUE TO IRDA. I REQUEST IFA PEOPLE PARTICIPATE IN THIS DISCUSSION.

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Comments Posted
Arun ARN NO :Solutions unlimited Delhi, 19 Oct 2014

O am Looking for insurance Agents 1. who are willing to do 50% third party private car insurance and 50% full insurance. Who are willing to cater to big area of delhi. prefered person, already doing 50+ TPs per day across Delhi or, Noida, Gurgaon NCR etc. 2. Same as above but for mediclaim / health insurance. My phone 9810135948

v.krishnakumaar ARN NO :3917 kumbakonam, 19 Mar 2014

i am a lic agent since 20 years. your idea is very correct. but my idea is we should take only 2 or 3 insurance companies agency in the license which is our choice..

SEEMA DESAI ARN NO :ARN-81127 DAHOD, 10 Mar 2014

I have started this discussion approx. befire 1 yr. and I am agree with you. if IRDA allow us atleast 3-4 lic and gic. it will be welcome step.

mayank sheth ARN NO :9834 ahmedabad, 09 Mar 2014

yes fully agree for life insurance .but thanks to loyal insurance broker one of the best services & advise in our Ahmadabad so i can sell all general insurance product with highest quality &fantastic back office support by team loyal .and getting customer interest first.you can also test in this way. i withdraw my agency from united India insurance as pathetic bed experience with no one worst services,as well as very poor back office support. now i do this work with confidence, i also recommend why we can sell psu general insurance with worst experience.pl. give real advise to your customer.

B CH SWAMY ARN NO :73552 SALUR, 07 Mar 2014

Yes. U R 100% correct, I agreed fully, prepare a letter for the same, post it in Wealth Forum & others, mail it to IRDA & Finance Ministry. So many IFAs are ready to participate.

Venkataramana C ARN NO :ARN-82068 Chennai, 06 Mar 2014

Yes, totally agreed. If SEBI is providing a proposal to make bank act as a distributor for multiple insurance company products, why not us? Moreover, this will help us to provide unbiased services to the client based on his investment appetite and long term horizon with the additional riders and premium waiver benefit etc.. which is handy for some customers which might not be available with every insurer. Hope IFA can sell multiple products and by doing so, they can also conduct a mandatory training session to make the IFA understand the product completely and to increase the cross sell opportunities.

RAJAGOPALAN ARN NO :72361 chennai, 05 Mar 2014

Why you have to be a corporate agent or broker. Individuals should also be allowed to sell /market mutiple insurance companies, as we pass the exams and undergo training to sell any insurance product. Like AMCs, individual insurance companies can arrange training of their product on empanelment. This is the need of the hour for increasing penetration of insurance to rural /unexplored areas. The IFA/wealth forum can take this up with appropriate authorities

Yogesh Borude ARN NO :86500 nashik, 05 Mar 2014

One who wants to deal with the Insurance products of multiple companies can take Broker license & join with the corporate broker. This license is given by Insurance Institute of India, Mumbai. He/She have to surrender the present IRDA agency license. In Other words one can not hold both the license.

dvlsvprasad ARN NO :62398 ongole, 05 Mar 2014

i strongly suuport bhanuprasad propasal.because fm permited banks to sell all insurance com polices.why not individual like us.irda sould seriously eximin this and allow ifa to sell all insurance polices as well as mf products.i congratulate my fellow ifa mr bhunuprasad .s

R.P.Bansal ARN NO :64749 Narwana, 05 Mar 2014

I agree that IRDA should allow individual agents to sell any life and general insurance product based on clients requirement and if this step is implimented clients have also use one stop services by their trusted agents rather then diffrent agents.

Naresh Jain ARN NO :84672 mumbai, 05 Mar 2014

I totally agree that IRDA should allow individual agents to advise on life and general insurance product based on clients requirement rather than having one single company advise and ending up a wrong or costly product,

DB DESAI ARN NO :0234 KUDAL, 05 Mar 2014

As usual after so many years the authorities are thinking of allowing individual agents to deal with multiple insurance companies. This should have been done 10 years back. I have been voicing in favour of this concept since long on various forums. It will reduce misselling, help the genuine advisors to advice their clients correctly, provide one stop solution for the investors. Today they have to deal with 10 agents of 10 different companies if someone has bought that many policies or products. It will more importantly create real competition amongst the insurance companies. The reasons given by the companies like training costs etc is not at all true. There should be great unanimity and support to this demand of allowing IFAs to sell all products of all life and general insurance companies.

sunil ubale ARN NO :80233 kolhapur, 05 Mar 2014

yes i also agree with your opinion

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