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 Future Generali India Life Insurance Company Limited on the sale of General 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.
|
Category
|
Commission
|
|
Min
|
Max
|
|
|
Endowment Plan
|
15%
|
35%
|
|
|
Moneyback
|
15%
|
30%
|
|
|
ULIP
|
6%
|
13%
|
|
|
Term Plan
|
15%
|
30%
|
|
|
Single premium
|
2 %
|
|
|
Pension – Regular /limited premium
|
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 Future Generali India Life Insurance Company Limited having its address at Indiabulls Finance Centre, 6th Floor, Tower 3, Senapati Bapat Marg, Elphinstone West Mumbai, Maharashtra 400013. AU Small Finance Bank Ltd. has not entered into any such contract with the Insured person. The insurance contract is made between Future Generali India Life Insurance Company Limited and the insured person only. AU Small Finance Bank Ltd. is merely a corporate agent of Future Generali India Life 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 Future Generali India Life 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 Future Generali India Life 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 Future Generali India Life Insurance Company Limited. The participation of the customers of AU Small Finance Bank Ltd in the policy is purely voluntary."
