Key Points
While retaining its sharp focus on term plans, Policybazaar is now looking to sell annuity products without much concern for competition from the NPS, Santosh Agrawal, CBO, Life Insurance, Policybazaar tells ET Wealth...
Its a customer-friendly move, but in the short term, the industry will face challenges..
Nearly 40% of our business is term insurance, and of the remaining 60%, almost 90% is Ulips and 10% is non-participating plans...
Unlike most distribution houses, where the same adviser or agent is tasked to sell life insurance, we have an earmarked term department, which is an independent entity that only sells term insurance..
There are, of course, indemnity plans that health insurance companies sell, but there are critical illness benefits that life insurers can sell..
