Legal Question in Insurance Law in India

I wish to know whether a MLM company selling Life Insurance policies to its members and giving payouts to the policy buyer is leagal as IRDA doesn't allow rebate on Life Insurance policies to buyers.

Asked on 8/03/09, 6:43 pm

2 Answers from Attorneys

RAJIV GUPTA (Cell: +91 9811284735) [email protected]
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as IRDA does not allow rebates, giving payout to buyers is illegal.

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Answered on 8/04/09, 12:00 am
Sudershan Goel Sudershan Goel - Advocate, International Visiting Scholar, USA [2008-10]
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I agree with the above opinion.

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Answered on 8/04/09, 8:21 pm

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