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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/ CARE health Insurance Limited/ Cholamandalam MS General Insurance Company Limited/ TATA AIG General Insurance Company Limited 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:

 

Class of Business – Health

Sr. No Line of business Maximum % of Premium payable as agency commission (excluding GST and applicable CESS)
1 Health-Individual* 15%
2 Health-Group (Employer-Employee only) – Annual 7.5%
3 Health-Group (Non Employer-Employee groups) 15%
4 Health – Group (credit linked up to 5 years) 15%
* Individual includes annual premium, 3 years single premium, 3 years regular premium
 

Disclaimers

AU Small Finance Bank Ltd. (CIN: L36911RJ1996PLC011381) is 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 with Corporate Agent (Composite, IRDAI Registration No. : CA0515 valid till 30/08/2023)
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