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) lawnrajiv@gmail.com
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as IRDA does not allow rebates, giving payout to buyers is illegal.

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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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8/04/09, 8:21 pm

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