insuarance product through mlm business

Gopal (Querist) 19 May 2011 This query is : Resolved
Dear Sir,

Recently we have came up with a plan for mlm business using insurance as a product. logically the plan is secure as company is not collecting any money from the market, but the insurance amount is transfered by the means of draft directly form the members to the insuarance company. the source of income of company is the commision for the insurance company. Further the income plan has been tested for input and output (financially) and made secure that company will not be in loss till next 1 lakh joinings.
The problem is we all the partners are expert from diverse fields but no one in experience in legal matters for a company, that why we need some sugessions about the legal matters in the formation of company and its activities.

Thanks

Follow Query

Report Abuse

M/s. Y-not legal services (Expert) 20 May 2011
Dear gopal sir, you may consult your advocate for this. You can consult about it detailedly.. Its will be some more clear to you better than post a query here. I hope you won't mistaken me.

abhay dholakiya (Expert) 20 May 2011
Tom is right further quary regarding this matter you have to give MOA or AOA to us and all detail regarding your comany that wheather is public limited or any other types or it registered in Roc or not for this all metter you have to consult some C.s or hired some good corporate lawyer and if you just want to normal guidance pls post detail regarding company

M/s. Y-not legal services (Expert) 20 May 2011
Thank you mr.abay.

Advocate. Arunagiri (Expert) 20 May 2011
You have to engage an advocate for forming the company. He can help you in completing the formalities required by ROC and others if any.

Guest (Expert) 21 May 2011
What is your MLM structure and commission structure at each level.

However, the question arises, are you an accredited agent of any Insurance Company and whether the Insuarance Comany allows you to adopt the proposed MLM practice, as you will naturally be allowing part of your commission as a commission at all the levels of the MLM membership on each original admission, as well as members admitted through those members?

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries