Currently, in India, the premium charged from client for life insurance policies includes the commissions that the agent will receive from the insurance company.
New scenario is developing: Life insurance companies will not give any comission to agents but the agent will charge a fee.
Any one has clarity how this works in other countries:
1) What kind of fee is charged by agent
2) Is the fee disclosed to client
3) What about subsequent years earnings
4) Does the insurance agent come under service tax this way