The Insurance Regulatory and Development Authority (IRDA) has framed guidelines for life insurance products to be sold at common service centres (CSCs).
The products to be marketed through the CSC distribution model shall be separately prefixed with the word CSC to clearly distinguish these products as exclusive CSC products while filing for product approvals, the regulator said in a communication to the life insurers.
The maximum commission in the first year should not be more than 5 per cent of the premium paid in the first year.