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Agent Portability Option: If you have taken the policy of Life Insurance Corporation of India or any other company, then this news has worked for you. The facility of Agent Portability of the Agent of Insurance Policy is going to be available soon in the country.
According to many media reports, IRDAI i.e. Insurance Regulatory and Development Authority of India has decided that if a policyholder is not happy with the work of his Insurance Agent, then he can change the agent according to his need. This rule does not apply to a general insurance agent, but you can get this facility on a long term life insurance policy like 20 years.
Agent can change on any kind of dispute
If a policyholder removes the old agent and keeps a new agent, then the commission received on the insurance starts getting to the new agent. This facility is very beneficial for those who are not happy with their agent’s behavior and want to change them.
Insurance agent portability was not available in India earlier. It has been seen that many times agents sell such policies to people in the interest of their benefits, in which they (agents) get more benefit. In such a situation, later there is a dispute between the agent and the policyholder. After the implementation of IRDAI’s Agent Portability rule, you will be able to change the agent even after taking the policy as per your convenience.
Decision in favor of policy holders
This rule of agent portability will be applicable to the Life Insurance Corporation of India as well as agents of other insurance companies. It is worth noting that IRDA has taken many such decisions in the last few days so that customers can get maximum convenience. Earlier, the insurance regulator had also given flexibility to insurers to empanel the hospital as per the requirements of their customers.
Along with this, the intention had also decided to relax the rules of cashless facility. With this, customers are now getting the facility of more and more hospital cashless treatment. Along with this, IRDAI has asked insurance companies to make such a policy so that cashless treatment facility can be provided in more and more hospitals.
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