The Swarup Committee recommends that insurance agents or advisors be disallowed from loading commission on to the policyholder's premium. The agent's advice is biased in favour of the insurance company rather than the buyer to earn the commissions. India's life insurance industry collected annual premiums of over Rs. 2 trillion through sale of new policies and renewal. The first year commissions are up to 40 per cent of the premium amount. The second year and third year premium are 7.5 and 5 per cent respectively. The Swarup Panel's recommendation are designed to combat rampant mis-selling of financial products in India. Mis-selling by India's 3 million financial advisors can harm the interests of about 188 million investors. A large number of policies lapse which is a major bane. One main reason for 'lapsation' is the selling of an unsuitable policy. Issues How insurance selling is different? What is mis-selling? How the agents should be compensated?