PolicyBazaar, which recently raised Rs 500 crore from international investors, plans to disrupt the insurance market by selling low-cost unit-linked insurance plans, or ULIPs, without any commissions. These ULIPs are being tailor-made for direct sales by Edelweiss Tokio Marine Life Insurance.
PolicyBazaar has also brought the concept of cash-back type incentives by offering additional allocation of units of 1% for the first five years, which increases every five years to 3%, 5% and ..