Policybazaar launches income loss insurance vertical

Online insurance marketplace Policybazaar.com has launched a dedicated vertical for consumers to purchase job/income loss insurance products.

With this step, Policybazaar aims to provide income replacement benefits/policies to customers for a defined time period. Through this new vertical users can learn more about the product offered by some of India’s leading insurers such as SBI General, Shriram General, Universal Sompo, and Aditya Birla Insurance.

"The growing middle class in the country needs options to safeguard themselves from sudden financial shocks as they tend to have liabilities of paying monthly installments to service loans. A loss of job/income insurance is the right policy to own to protect from such eventualities.” Sarbvir Singh, CEO, Policybazaar.com said in a statement.

Currently, job/income loss insurance covers are not available or popularly sold in the market. With this new business line being launched, plans that have the coverage for job/income loss can be compared and easily purchased online.