LIAFI representing 15L agents warns IRDAI reforms could slash pay
Business
Life Insurance Agents Federation of India (LIAFI), representing around 15 lakh agents, is raising concerns about IRDAI's proposed reforms that could slash agent pay.
They're worried these changes might hit their earnings hard and have urged the regulator not to make "disproportionate" moves that could threaten their livelihoods.
B. Markandeyulu urges transition measures, review
LIAFI's Secretary General, B. Markandeyulu, says there should be transition measures to protect current agents, especially in places where digital access isn't great.
They're also asking for a full impact review before any reforms roll out, and want all intermediaries, including corporate agents, banks and digital platforms, to be treated fairly so insurance actually reaches more people.