Life insurance companies pay a 4% commission on Unit Linked Insurance Plans (ULIPs).

Life insurance companies pay a 4% commission on Unit Linked Insurance Plans (ULIPs).

Recent data from the Insurance Regulatory and Development Authority of India (IRDAI) reveals that life insurance companies paid an average commission of 4.03% to distributors for Unit-Linked Insurance Plans (ULIPs) in 2024, up from 3.13% in 2023. The total commission...

The insurance industry is seeking government support to extend Input Tax Credit (ITC) benefits to include distribution costs and renewals, according to the CEO of Aditya Birla Sun Life Insurance.

The life insurance industry in India is set to approach the government with new demands after the GST Council recently exempted individual life and health insurance policies from tax. The industry’s primary request is to extend input tax credit (ITC) benefits to...