The Insurance Regulatory And Development Authority (Insurance Brokers) Regulations, 2002
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 ... policy:- 2. per cent. of premium
(b) deferred annuity in consideration of more than one premium: (i) 71/2 per cent. of first year