CFP Global :
New Delhi: 20-10-2010
After all the changes which has been brought by IRDA , an apex organization and a regulatory body for all kinds of insurance, since sep 1, there has been an dramatic downfall in the business of insurance which was being sourced by the agents.
The problem persists because agents are still trying to sell ULIP products when the changes which has been brought is actually benefitting more to the customers than the agents.
A middle solution for the above scenario can be that agent start selling Term insurance more than ULIPS, because even till date out of indian population of 110 cr only about 14% are insured, so statistically and economically there is huge scope of insurance business in india and at the same time , every customer can have a huge insurance cover , by paying a miniscule premium every year as compared to an insurance cover which is given in ulip products.
So it is a win win situation for clients and the agents at the same time.
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