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[Cites 0, Cited by 0] [Section 12] [Entire Act]

Union of India - Subsection

Section 12(1) in The Insurance Regulatory And Development Authority (Micro-Insurance) Regulations, 2005

(1)A micro-insurance agent may be paid, remuneration for all the functions rendered as outlined in regulation 5 and including commission, by an insurer, and that the same shall not exceed the limits as stated below:
(a) Life InsuranceBusiness :
Single premiumpolicies Ten per cent ofthe single premium
Non-single premiumpolicies Twenty per cent ofthe premium for all the years of the premium paying term.
(b) Foe Non-LifeInsurance Business: Fifteen per centof the premium.