Policybazaar launches job, income loss insurance vertical

HYDERABAD: Online insurance marketplace, Policybazaar.com, on Tuesday launched a new vertical where visitors can buy job/income loss insurance products. Through this new vertical user can learn more about the product offered by some insurers such as SBI General, Shriram General, Universal Sompo and Aditya Birla Insurance, it added.

Commenting on the development, Sarbvir Singh, CEO, Policybazaar.com, said, “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 instalments to service loans. A loss of job/income insurance is the right policy to own to protect from such eventualities.”

As per Policybazaar.com, 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 by the customers.


It is during a loss of a job, people end up using their savings and emergency funds, and therefore a ‘Loss of Job/Income Insurance’ is an option to tide off financial exigencies while maintaining long-term financial stability, the release added.