LIC ties up RBL Bank for bancassurance
LIC ties up with RBL Bank for bancassurance – providing customers in India access to LIC’s life insurance products through RBL’s branches and digital platforms, enhancing convenience, reach, and financial inclusion.
LIC ties up RBL Bank for bancassurance
Mumbai, Oct 06
Life Insurance Corporation of India (LIC), the country’s largest life insurer has entered into a bancassurance partnership with RBL Bank Ltd., one of India’s leading private sector banks. This strategic collaboration will enable RBL Bank customers to access LIC’s comprehensive range of life insurance products through the bank’s extensive branch network and digital channels. The formal tie-up was announced in the presence of Shri R. Doraiswamy, CEO & MD, LIC of India and Shri R Subramaniakumar, MD & CEO, RBL Bank Ltd and other senior officials from LIC of India and RBL Bank Ltd. The partnership underscores the shared commitment of both institutions to expand financial protection and strengthen insurance penetration across India. Through this collaboration, RBL Bank customers will be able to avail LIC’s diverse product portfolio-covering term plans, endowment policies, pension and unit-linked insurance plans. Through combined strength of a vast network of more than 3600 Branches and Satellite Offices of LIC and nearly 570 branches and 1474 business correspondent branches (of which 297 banking outlets) of RBL Bank, the penetration of life insurance across the country would be made easier and this will go a long way towards the vision of“ Insurance for all by 2047”. With this collaboration both institutions reaffirm their commitment to promoting financial inclusion and delivering best insurance solutions across India.
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