How can I know whether there is any hidden agent behind a government sponsored Group Rural Insurance Policy?



I am the custodian of the policy document of a group-rural-accident- insurance-cover policy, sponsored by a government organization. The organization paid the entire premium amount for thousands of villagers. The policy, tailor-made for the organization, was negotiated directly by the officials of the organization, with the insurance company managers. The insurance company too is owned by government. The implicit understanding was there were no agents or commissions. However rumours persisted that there were indeed agents and commission too was paid for the policy. When I scrutinised the policy document recently, I too found some clauses, suspicious. For example, there are entries for Development Officer and Agent Codes. The customer type is given as ‘non-corporates’. How can I ensure that there was no agents and no commissions were paid? Can an expert find the truth out from the policy document itself?

How can I know whether there is any hidden agent behind a government sponsored Group Rural Insurance Policy?
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One Reply to “How can I know whether there is any hidden agent behind a government sponsored Group Rural Insurance Policy?”

  1. Krishna

    There are Development officers who might punch in the Agent code and then share out commission from they get out form the premium

    What you can do is go to the Insurance office and try to find out informally who is the Agent for the said policy number, incase they give you the agent name then YES there has been a commission paid out

    Incase you find this report the issue to the IRDA office/Insurance ombudsman in writing with the name of the Development Officer and the Agent Name and his code

    Also the policy documents/Premium receipts would have an Agent code incase its not there still go to the office to be 100% sure and find out ( sometimes it is not mentioned on the receipt/document)

    I hope I managed to answer your question

    http://www.insurancetalk.in





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