29.1 C
Delhi
Friday, October 24, 2025

LIC ties up with IDFC First Bank for Banc assurance

Date:

Share post:

Donate-GC-Razorpay

New Delhi: Continuing with its endeavor to increase the contribution of banc assurance and its pursuit to provide life insurance coverage to all by 2047, India’s largest government owned LIC has tied-up with IDFC First Bank Ltd, under Corporate Agency Arrangement.

This tie-up will facilitate more than 1 crore customers of IDFC First Bank, who will now be able to buy LIC policies through the bank. The journey of digital on-boarding has already started and is in the development phase and once completed; customers will be able to buy LIC policies online by visiting the bank’s website, LIC said in a statement.

In a very tech-savvy bank where more than 95 per cent transactions are happening online, it would be a great experience for bank customers to have end to end solution for their varied life insurance needs.

With the combined strength of a vast network of more than 3600 branches and Satellite Offices of LIC and over 1000 branches of IDFC First Bank, the penetration of life insurance across the country would be made easier, and this will go a long way in achieving the goal of providing life insurance protection to all by 2047.

Being the premier insurer of the country, LIC has plans for all segments of society under the umbrella of a variety of products consisting of annuity, ULIP, savings, and term insurance.

On this occasion, LIC’s MD, R Doraiswamy, informed that the coming together of these 2 organisations will provide the digital savvy customers of IDFC First Bank with a wide choice of attractive LIC products.

Related articles

Pakistan’s Next Target Could Be India’s Economy – and the US Won’t Mind

Strategic BackgroundIn my earlier analysis published in Goa Chronicle, I had argued that Operation Sindoor was more than...

From Italy with Love (and Wine): Vinitaly Finds a New Home in Mumbai and Goa

When I first heard that Vinitaly, the world’s most celebrated wine festival, is coming to Mumbai and Goa,...

Analysing Allegations of Indian Army’s Responsibility in Rajiv Gandhi Government’s Sri Lanka Policy Failure 1987-90

‘There are two skills in which the Indian Army can never hope to win against adept political camp...

Amit Shah: The Silent Executioner of India’s Viksit Bharat Mission

There are politicians who talk. There are politicians who promise. And then there is Amit Shah - the...