Jun 9 2017, 05:39 PM
QUOTE(ganaesan @ Jun 9 2017, 12:20 AM)
Hi..
Can anyone explain why MCIS quotation reads like this?
Commission of 15% of the annual premium is payable every year until the end of the policy term
I thought commission is only paid for 7 years from the time of signing up for any insurance policy...
Why MCIS commission need to be paid every year until end of the policy term???
So if I buy a MCIS policy and maintain it for 30 years, throughout that duration i must pay commission???
Pls help me on this
Note: this is a standalone medical policy quoted on June 2017.
[attachmentid=8885251]
That is General Insurance commission. It is yearly as long as you are paying the premiums. Life Insurance will be higher amount of commission but its on a reducing term. For GI used to be 25% per year previously.Can anyone explain why MCIS quotation reads like this?
Commission of 15% of the annual premium is payable every year until the end of the policy term
I thought commission is only paid for 7 years from the time of signing up for any insurance policy...
Why MCIS commission need to be paid every year until end of the policy term???
So if I buy a MCIS policy and maintain it for 30 years, throughout that duration i must pay commission???
Pls help me on this
Note: this is a standalone medical policy quoted on June 2017.
[attachmentid=8885251]
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