Civil Procedure Code (CPC)

Insurance Agents Commission


I pay LIfe Insurance Premium of Rs 50,000 Per year. My agent does not give me any type of service. Yet I have learnt that  He earns 6% (Rs 3000) every year from my payment. Is it fair on the part of the Company to pay the agent  when he is not providing me any service. The company has not answered to my letter. What should I do?
 
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SURRENDER THE POLICY AFTER 3 PREMIUM AND LOOK FOR GOOD AGENT OF UR CHOICE AND TAKE NEW POLICY

 
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Surrender Value is 30% of premium paid. If surrendered within 5 years of commencement accrued bonus is not paid. WHat should i do? Take discounted value of my Investement?

 
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lawyer

Agent is not duty bound to help you to remit the subsequent payment .

 
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Lawyer

You may file an application against that agent before the Branch Manager or Devlopment officer if they do't answer your letter you may sent an application to the chairman of the company or file a consumer case against that agent regarding deficiency of service.

 
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Lawyer

I agree with the learned friends.

 
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Palnitkat Sir,


Whom do your agree with?Shall I file in Consumer Forum?

 
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Lawyer

You may file consumer case and also a complaint to the insurance company against the agent.

 
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Infact there is a judgment of the Hon'ble Supreme Court that if you pay the premium to the agent and he does not pay further, the company cannot be held responsible.


So give your money to the agent at your own risk..

 
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No consumer complaint can be maintainable  in this case because>>


No assurance was given by the agent or the company that they will collect premiums from you. There is no such agreement.


giving of premiums is your duty.


Company may or may not give commission to the agent...you are not giving anything to him...

 
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