LIC ties up with IDFC First Bank for bancassurance

Hyderabad: To increase the contribution of bancassurance and to provide life insurance coverage to all by 2047, LIC of India has tied-up with IDFC First Bank Ltd, under Corporate Agency Arrangement.

An official release from LIC of India said that this tie-up will facilitate more than one crore customers of IDFC First Bank to buy LIC policies through the Bank.

On the occasion, Managing Director, LIC of India, R Doraiswamy informed that the coming together of these two organisations will provide the digital savvy customers of IDFC First Bank with the opportunity to choose and opt from the range of products that LIC has to offer. “Being a premier insurer of the country, LIC has insurance plans for all segments of the society with umbrella of products consisting of Annuity, ULIP, Savings and Term Insurance,” he said.