Apparently you may believe or someone may say "The agent's work ends once you taken the policy and you can directly deal with the insurance company." and “Agent has a lien on remuneration/commission from the policy which is sourced by an agent."
Agent is kept by an insurance company by way of agency agreement which is to be signed by agent and witness.
The agreement contains code of conduct and services to be rendered by agent to policyholders and company, and violation can lead to termination of agency.
The Life Insurance business of agent thrives on repeat sales from existing customers and referrals. The company can source business thru agents licensed thru IRDA. Good service is the only ingredient for furthering business of agent.
As per prevailing unfair practices some citizens extract part of commission/commission from agent and thus deprive them from services which they can demand from the agent. If an agent part commissions his/her only earning shall be renewal commissions.
In case the policyholder has moved overseas, to another location, or in case the agent is not providing proper services, indulges into unfair practices the policyholder has a valid reason to ask for change of agent.
It shall be appropriate to submit a written representation under proper acknowledgment to the BM of the concerned branch from which policy proposal from was submitted and demand change of agent, explaining the reason. You may mention the full name and code of the agent which is mentioned in the policy document.
You may mention CC to Chairman of IRDA and this may add force to your complaint.
If your reasons are genuine company shall act. The company may issue a notice to agent and may even terminate the agency.
1. New Agent.
2. Yes.
3. Yes.
Valuable advice of learned experts/members is sought.
