The product aims to insure policyholders against loss of income through accident or illness, with optional protection against unemployment. Monthly premiums will start at pounds 6.
It will be available in a trial launch later this month at counters in 1,250 offices in the Midlands over a six-month period.
If the six-month trial is successful, the Bill Payment Cover policy will be extended nation-wide. The new policy is part of the Post Office's plan to become a distributor of insurance products. It is already expanding its services into foreign currency exchange, travel insurance and cash transfer. Through Girobank, owned by Alliance & Leicester, it also offers a banking operation to clients.Reuse content