Insurance regulator IRDA today permitted agents of general insurance companies to sell mediclaim products of standalone health insurance companies to help increase the penetration of such products in public.

"In order to encourage penetration of health insurance and to spread the message of health insurance across the country, it has also been decided to allow Standalone health insurance companies to avail the services of agents, corporate agents of other life or non-life insurance companies to distribute their products provided such agents," IRDA said in a statement.

Such agents, however, need to undergo 25 hours training, it said.

IRDA added meanwhile that in terms of this permission, any agent cannot offer his/her services to more than one Standalone Health Insurance Company.

The training should cover the basics of health insurance, health insurance terminology, and products for a minimum period of 25 hours.


It added: "Further, it is clarified that such composite agents shall not be allowed to transfer general part of their license to other non-life insurance company without completing certification."

Source - FE.com

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