| Insurance is a growing business in India. Insurance is | | | | behalf of the customer in order to sell a policy. He is |
| sold by insurance agents. The role of agents are vital. | | | | required to be fair to both the customer and the |
| They are responsible for the reputation of the | | | | company while a policy is being sold. |
| company they are working for and they also have | | | | Insurance is mostly for protection purpose. It |
| their obligations towards their clients. | | | | involves long term dedication on behalf of the |
| The IRDA or the Insurance Regulatory Board of India | | | | customer. An agent can't sell a policy by telling that |
| has laid down code of conduct for the agents. Let us | | | | insurance is a short term contract. He is liable to |
| discuss some of the code of conducts. | | | | explain to a customer that insurance is a long term |
| An agent can't hide facts while selling a policy. He has | | | | contract. Even in case of ULIPs, an agent must |
| to be transparent to the customer. | | | | explain that they are long term contract although |
| An agent can't magnify the benefits of a policy to | | | | ULIPs are a form of investment coupled with |
| the customer. | | | | insurance benefits. |
| He is responsible to properly explain the nature of a | | | | An insurance agent is the sole contact point between |
| policy to the customer as that will help the customer | | | | a customer and an insurance company. So he must |
| to take an informed decision. | | | | be fair and ethical while selling a policy as that will also |
| An agent can't hide facts from the company on | | | | prove to be beneficial to him. |