IRDA allows agents of life/general insurance companies to sell mediclaim policies

[Expert]

Insurance regulator IRDA today permitted agents of general insurance companies to sell mediclaim products of standalone health insurance companies to help increase the penetration of such products in public.

"In order to encourage penetration of health insurance and to spread the message of health insurance across the country, it has also been decided to allow Standalone health insurance companies to avail the services of agents, corporate agents of other life or non-life insurance companies to distribute their products provided such agents," IRDA said in a statement.

Such agents, however, need to undergo 25 hours training, it said.

IRDA added meanwhile that in terms of this permission, any agent cannot offer his/her services to more than one Standalone Health Insurance Company.

The training should cover the basics of health insurance, health insurance terminology, and products for a minimum period of 25 hours.

It added: "Further, it is clarified that such composite agents shall not be allowed to transfer general part of their license to other non-life insurance company without completing certification."

Source - FE.com (http://www.financialexpress.com/news/irda-allows-agents-of-general-insurance-companies-to-sell-mediclaim-policies/1075968/2)

[Rahul]

Is not this same as mentioned in these two threads -
1- First (http://www.policywala.com/content.php/214-Relaxation-in-Agency-norms-for-standalone-Health-Insurer%E2%80%99s-Agents)
2- Second (http://www.policywala.com/forum/showthread.php/2021-Can-agent-have-third-health-insurance-agency-licence)

[Expert]

This is an enhancement of above order - New IRDA Guideline (http://irda.gov.in/ADMINCMS/cms/frmGuidelines_Layout.aspx?page=PageNo1883) and some changes as follows -
1- Waiver of mandated IC 34 certification for Life Insurance/General Insurance Agents
2- Standalone Health insurers shall also launch an internal training programme on health insurance, which shall cover the basics of health insurance, health insurance terminology, and products etc. for a minimum period of 25 hours for converting Life/General Insurance Agents into Composite Agents to sell their health products.
3- Any agent, corporate agent of Life and/or Non-life insurance Company shall not offer his/her services to more than one Standalone Health Insurance Company.