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Any saving in Premium if renewal not through agent

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03 Jul, 2021 by  Dipak R Gandhi


I have a Health Insurance of United India since 2008, which I had bought through an angent.

Now, if I don't renew it through the agent, but make the payment

directly to the company, will I save on the premium.

I am supposed to pay him the premium of Rs.24,000 for the renewal of Rs. 5 lac policy. The premium would be Rs. 34,000 if I go for Rs. 10 lac policy - which I am thinking of.

Would you guide me if I can save any premium if I don't go through agent.

Thanking you


Dipak R Gandhi

Health Insurance

2 Answer

05 Jul, 2021
Chartered Accountant, Personal Finance Advisor

Dear Mr. Dipak

Agent is an intermediary who procures business for insurance companies. Once a policy is tagged to an agent the agent will continue to get the commission as long as both agency and policy are active. It is advisable to increase your cover from existing cover of Rs. 5 Lakhs to Rs.10 Lakhs considering the increasing medical inflation. When enhancing the cover please ensure there's no room rent capping and disease specific capping.

It is advisable to stay in touch with the agent as he may be able to help you in case of any claims considering the agent is at least in the industry for 13 + years

Hope this addresses your concerns. In case you have any further questions please feel free to post here.

Stay Safe

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05 Jul, 2021
Dipak Gandhi
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05 Jul, 2021
Self Employed - Digital Consultant

Sathish has already answered your question. In a nutshell, your policy stays mapped to the Agent in your Insurer's system and he keeps getting the renewal commission on your policy even if you make a direct payment to the Insurer (online or by walking in to their Branch). So there will be no discounts on account of direct payment.

However, sometimes Insurers give a discount on making an e-payment as it reduces their cost of manual handling of cheques. Find out if there is any such discount being offered by your Insurer.


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