Firstly, the agent has to submit details of all his policyholders including their contact details. The insurance company, in turn, has to ensure an alternative service arrangement for all those policyholders. Companies have also been asked to withhold renewal commissions of those agents, who quit before completing five years of services.

After Life Insurance Company received your request for the NOC. As per the IRDA defined process, Life Insurance Company would need to initiate the Transfer Request on IRDA portal, post which we will be able to complete the formalities.

Among other things, the life company has to ensure that there is an alternate arrangement for taking care of the policies orphaned by any agents exit.

Keep following the Life Insurance Company.

If it doesnot work complaint to IRDA.