policy from a broker ?
A broker is an IRDA approved entity who works for a client unlike an agent who works for an insurance company. Broker is independent in a respect that he can sell the products of any insurance company which he feels is fit for the client. Hence one can expect an unbiased view about a product from an insurance broker. As the broker deals with all the insurance companies he has better market knowledge about the products available in the market. Also IRDA prescribes stringent guidelines in terms of capital, infrastructure, and qualification of personnel etc before granting license to a broker. Hence one can expect better service levels from a broker. The above FAQs have been designed in the Indian context and may or may not be valid for insured residing in other countries.
