IRDA/Cir./005/2003
Dated: 17.02.2003

Addendum

To

All the CEOs of Insurance Companies

Sub: Referral Arrangement with Banks - Life Insurance

In partial modification of the circular, in regard to the subject under reference, issued vide IRDA/Cir./004/2003, dated 14.02.2003, the Authority hereby issues the following addendum for due compliance by all life insurers.

Para 2, Point VI after the table in page-2, add the following:

"For single premium policies the referral fee paid by the insurer to the bank shall be 10% of such single premium"

(N. Rangachary)
Chairman

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