Insurers flout norms, use pyramid selling schemes
Pyramid schemes, where recruiting more sellers is more important than selling, aren’t new in India. An investigation by ‘Outlook Money’ magazine, the content partner for Mint’s personal finance coverage in the Business of Life section, reveals that such schemes are now being used by corporate insurance agents -- in violation of norms laid down by the Irda
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Does it mean that the insurance advisor who has undergone a training of 50 hrs and passed the exam according to IRDA norms does not cheat people?
Does it mean that the corporate agencies such as blue chip, angel, etc sell their products thru IRDA licensed trained advisors only?
Does it mean that a person who pays Rs825 to the IRDA as training and exam charges should be allowed to sell insurance?
Does it mean a person who is not educated does not get a CHANCE to earn a decent lively hood if he does not have a job and further more ruin the economy of our great country?
why do you people not get an honest opinion from www.strategyindia.com to get a clearer picture and help IRDA to ease the process of selling insurance without doing any thing illegal and harmful for the investors.
ajit