Ask anyone who was sold a 'guaranteed wealth-builder' and later tried to escape it. The product was costly, unsuitable and locked shut. That is misselling, and it is not rare. It usually begins with one broken incentive: when a seller earns almost everything from the first sale, the complicated, high-commission policy gets sold rather than the simple one the customer needed.
So, IRDAI's instinct to rethink how intermediaries are paid is sound. The regulator wants lower distribution costs, more policies that stay alive, and better value for buyers. The worry is not the goal. It is whether the fix damages the network that reaches ordinary Indians in the first place.
