Lok Sabha Question No. 493 (UNSTARRED), answered on 2016-02-26
Subject: Medical Facility to Insurance Agents
Ministry: FINANCE
Asked by: LALLU SINGH

Dir(MM)

## F. No.H-12016/02/2016-Ins.I Government of India Ministry of Finance Department of Financial Services Insurance-1 Section

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Subject: - Lok Sabha Unstarred Question No. †493 admitted for 26 th February 2016 raised by Shri Lallu Singh regarding Medical Facility to Insurance Agents.

Shri  Lallu  Singh,  Hon'ble  Member  of  Parliament  (LS)  has  raised  a  Question regarding  'Medical  Facility  to  Insurance  Agent'. The  text  of  the  Question  is reproduced below:-

- (a)  the  number  of  agents  working  in  various  insurance  companies/corporations  at present in the country;
- (b) whether the public and private insurance companies/corporations provide facility of medical treatment to the agents working in insurance sector;
- (c) if so, the details thereof; and
- (d) if not, whether IRDA is considering any proposal to provide the facility of medical treatment to the agents of insurance companies and if so, the details thereof?
2. Based on the information received from GIPSA, LIC and IRDA, a draft reply to the Question has been attempted and placed below for consideration/approval please.

(S K Mohanty)

US Ins.I

## Government of India Ministry of Finance Department of Financial Services Lok Sabha Unstarred Question No. †493

To be answered on Friday, February 26, 2016/Phalguna 7, 1937 (Saka)

## Medical Facility to Insurance Agents

Question

†493. Shri Lallu Singh:

Will the Minister of FINANCE be pleased to state:

- (a)  the  number  of  agents  working  in  various insurance companies/corporations at present in the country;
- (b)  whether  the  public  and  private  insurance companies/corporations provide facility of medical  treatment  to  the  agents  working  in insurance sector;
- (c) if so, the details thereof; and
- (d)  if  not,  whether  IRDA  is  considering  any proposal  to  provide  the  facility  of  medical treatment to the agents of insurance companies and if so, the details thereof?

Answer To be answered by

Minister of State in the Ministry of (Shri Jayant Sinha)

- (a) Total  number  of  agents  working  in  vario companies/corporations  as  on  31.03.2015 Annexure I.
- (b) to (d) Insurance Regulatory and Developme of India (IRDAI) has informed that providi medical treatment to the agents appointed b is an internal policy of insurer.

IRDAI has also informed that the Authority Guidelines on Appointment of Insurance vide  Circular  No:  IRDA/AGTS/CIR/GLD/ dated 17.03.2015 which inter alia mandate put in place a board approved policy which the  criteria  to  offer  group  life  insurance personal  accident  cover,  group  health  ins and  any  other  such  benefits,  if  any,  to Therefore, it is purely at the option of insu to offer such benefits or not.

## Annexure I

Number of agents working in various insurance companies/corporations as on 31.03.2015

| Life Insurers        | Life Insurers                  | Non Life Insurers                   | Non Life Insurers              |
|----------------------|--------------------------------|-------------------------------------|--------------------------------|
| Name of Life Insurer | No. of Agents as on 31.03.2015 | Name of Non Life Insurer            | No. of Agents as on 31.03.2015 |
| Aegon Religare Life  | 7973                           | AIC of India                        | 0                              |
| Aviva Life           | 18935                          | Bajaj Allianz General               | 11809                          |
| Bajaj Allianz Life   | 120982                         | Bharti Axa General                  | 950                            |
| Bharti Axa Life      | 19132                          | Chola Ms General                    | 3709                           |
| Birla Sun Life       | 90537                          | Export Credit Guarantee Corporation | 0                              |
| Canara HSBC OBC Life | 0                              | Future Generali India               | 4567                           |
| DHFL Pramerica Life  | 1995                           | HDFC Ergo                           | 5667                           |
| Edelweiss Tokio Life | 10421                          | ICICI Lombard                       | 16075                          |
| Exide Life           | 32357                          | Iffco Tokio General                 | 13292                          |
| Furute Generali Life | 17150                          | L&T General                         | 1745                           |
| HDFC Std Life        | 65214                          | Liberty Videocon General            | 297                            |
| ICICI Pru Life       | 132463                         | Magma HDI                           | 2415                           |
| IDBI Federal Life    | 13089                          | National Insurance Co. Ltd.         | 66307                          |
| India First Life     | 4325                           | New India Assurance Co. Ltd.        | 77832                          |
| Kotak Mahindra Life  | 55548                          | Oriental Insurance Co. Ltd.         | 52098                          |
| Max Life             | 43505                          | Raheja QBE                          | 0                              |
| PNB Met Life         | 17017                          | Reliance General                    | 16367                          |
| Reliance Life        | 105022                         | Royal Sundaram                      | 3780                           |
| Sahara Life          | 11362                          | SBI General                         | 6323                           |
| SBI Life             | 83656                          | Shriram General                     | 1595                           |
| Shriram Life         | 4460                           | Tata AIG General                    | 8754                           |
| Star Union           | 8167                           | United India Insurance Co. Ltd.     | 74495                          |
| Tata AIA Life        | 40993                          | Universal Sompo                     | 1947                           |
| LIC of India         | 1163604                        | Apollo Munich                       | 20407                          |
|                      |                                | Max Bupa                            | 11014                          |
|                      |                                | Star Health                         | 150740                         |
|                      |                                | Religare Health                     | 14247                          |
|                      |                                | Cigna TTK                           | 4424                           |
| Total                | 2067907                        | Total                               | 570856                         |

## Government of India Ministry of Finance Department of Financial Services Lok Sabha Unstarred Question No.†493

To be answered on Friday, February 26, 2016/Phalguna 7, 1937 (Saka)

## Medical Facility to Insurance Agents

†493. Shri Lallu Singh: Will the Minister of FINANCE

be pleased to state:

- (a) the number of agents working in various insurance companies/corporations at present in the country;

(b) whether the public and private insurance companies/corporations provide facility of medical treatment to the agents working in insurance sector;

(c) if so, the details thereof; and

- (d) if not, whether IRDA is considering any proposal to provide the facility of medical treatment to the agents of insurance companies and if so, the details thereof?

## Answer Minister of State in the Ministry of Finance (Shri Jayant Sinha)

- (a) Total number  of  agents working  in various insurance companies/corporations as on 31.03.2015 is given in Annexure I.
- (b) to (d) Insurance Regulatory and Development Authority of India (IRDAI) has informed that providing facility of medical treatment to the agents appointed by the insurer is an internal policy of insurer.

IRDAI  has  also  informed  that  the  Authority  has  notified  Guidelines  on  Appointment  of Insurance Agents, 2015 vide Circular  No:  IRDA/AGTS/CIR/GLD/046/03/2015  dated 17.03.2015 which inter alia mandates insurers to put in place a board approved policy which shall specify the criteria to offer group life insurance cover, group personal accident cover, group health insurance cover and any other such benefits, if any, to the agents. Therefore, it is purely at the option of insurers whether to offer such benefits or not.

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