As per IRDA Draft regulation on persistency of life insurance policies (20 insurance policy per year mandatory for Agent) -Originally Posted by rameshsen
(1). Where average annual persistency ratio is less than 50%, the agency licence would not be renewed.
(2). The minimum number of policies per agent shall be 20 policies per annum.
(3). The minimum First Year Premium Income to be procured by an agent would be Rs.1, 50,000 per annum.
(4). Where an agent falls short of achieving either (2) or (3) listed above, he or she would have to achieve proportionately more in either one to make up for the shortfall in the other.
(5). Spouses and close relatives of employees of insurers shall not be engaged as agents by insurers.
Source - IRDA.gov.in
