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To CEO’s of all Life Insurance Cos
Ref: IRDA/Life/GDL/057/02/2014 Date: 12-02-2014
Guidelines for Individual Agents for Persistency of Life Insurance PoliciesGuidelines for Individual Agents for Persistency of Life Insurance Policies

In modification of Guidelines for Individual Agents for Persistency of Life Insurance Policies  vide Ref: IRDA/CAD/GDL/AGN/016/02/2011 dated 11-02-2011 and Circular Ref: IRDA /Life/GDL/GLD/ 217/09/2011 dated 20-09-2011 and Circular Ref: IRDA/Life/CIR/AGN/257/11/2011 dated 25/11/2011 the following guidelines are issued.

1)    Renewal of Individual Agency License and Corporate Agency License will not be subject to meeting the Persistency Rates as stated in the above referred Guidelines/Circulars.

2)    All Life Insurers are required to have their own company specific persistency criterion for renewal of Individual and Corporate Agency from 1st July 2014.

These guidelines are issued under Section 14(2) of IRDA Act,1999 and are with immediate effect.

 

 

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