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Health Insurance Commission Disclosure

In terms of the RBI circular bearing Ref. No. RBI/2009-10/225 dated November 16, 2009 following are the details of commission which AU Small Finance Bank Ltd is eligible to earn from Aditya Birla Health Insurance Company Limited/ Cholamandalam MS General Insurance Company Limited / TATA AIG General Insurance Company Ltd on the sale of Health Insurance Products in its capacity as Corporate Agent in line with IRDAI (Payment of Commission or Remuneration or reward to insurance agents and insurance intermediaries) Regulations, 2016 and applicable circulars:
 
Sr No
Class of Business
% of Premium payable as agency commission
(% of Final premium excluding GST and applicable CESS
Commission from General Insurance – Health Insurance
1
Health Insurance (Individual)
15%
2
Health Insurance (Group)
15%
3
Personal Accident
15%
4
Group Hospital Cash Health
7.5%
 

Disclaimer

AU Small Finance Bank Ltd.has registered itself with Insurance Regulatory and Development Authority of India (“IRDAI”) in order to act as a corporate agent of Aditya Birla Health Insurance Company Limited having its address at One Indiabulls Centre, Tower 1, 18th Floor, Jupiter Mills Compound,
Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai 400013 AU Small Finance Bank Ltd. has not entered into any such contract with the insured person. The insurance contract is made between Aditya Birla Health Insurance Company Limited and the insured person only. AU Small Finance Bank Ltd. is merely a corporate agent of Aditya Birla Health Insurance Company Limited. No direct/indirect association exists between the banking services offered by AU Small Finance Bank Ltd and usage of the product and/or involvement in the scheme offered by Aditya Birla Health Insurance Company Limited. Your participation in this product is at your own free will and purely on voluntary basis. AU Small Finance Bank Ltd is neither liable nor responsible for any claim, dispute, liability, loss, shortfall or the like resulting from the scheme. This policy is brought to you from Aditya Birla Health Insurance Company Limited.

AU Small Finance Bank Ltd. (CIN: L36911RJ1996PLC011381) a scheduled bank under second schedule of Reserve Bank of India Act 1934, and a small finance bank under Section 22 of Banking Regulation Act 1949 and having its registered office at 19-A, Dhuleshwar Garden, Ajmer Road, Jaipur – 302001, Rajasthan is registered as a corporate agent (Composite, IRDAI Registration No. : CA0515 valid till 30/08/2020) of Aditya Birla Health Insurance Company Limited. The participation of the customers of AU Small Finance Bank Ltd in the policy is purely voluntary."