What is the Job Loss Insurance (Chola Income Shield Insurance)?

Life, especially in these times, is very uncertain. One’s planning towards financial goals and their savings are at a risk in the unfortunate event of the person losing his or her job. The Job Loss Insurance (Chola Income Shield Insurance) provides protection against this eventuality. 

In case a salaried person loses his or her job during the policy period, a lumpsum benefit of 3 times the gross salary per month will be paid to the insured person. Sum insured will be equal to 3 times the gross monthly salary.