India's insurance comparison website PolicyBazaar is planning to sell low-cost unit-linked insurance plans (ULIPs) on a commission-free basis. The company said it will offer the policies for sale in India starting from July 1. The insurer reportedly won't make any money from the policies for the first year of coverage, but will if consumers renew after 12 months. PolicyBazaar says the goal of offering commission-free products is to increase engagement with its client base.
India's insurance comparison website PolicyBazaar is planning to sell low-cost unit-linked insurance plans (ULIPs) on a commission-free basis. The policies are being developed in partnership with insurer Edelweiss Tokio Marine Life Insurance. The insurer reportedly won't make any money from the policies for the first year of coverage, but will if consumers renew after 12 months. PolicyBazaar says the goal of offering commission-free products is to increase engagement with its client base.