Section 171 in The Insurance Regulatory And Development Authority (Insurance Brokers) Regulations, 2002
171.
/2 per cent. of the premium on direct business;(B)on direct life insurance business-(i)individual insurance:(a)30 per cent. of first year's premium(b)5 per cent. of each renewal premium(ii)annuity(a)immediate annuity or a deferred annuity in consideration of a single premium, or where only one premium is payable on the policy:-
