RBL Bank Limited announced that it has entered into a bancassurance partnership with Life Insurance Corporation of India (LIC). 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 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 over 2000 touchpoints of RBL Bank including nearly 570 branches and 1474 business correspondent branches, 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.
With this collaboration both institutions reaff confirm their commitment to promoting financial inclusion.
Life Insurance Corporation of India is an India-based insurance company. The Company is engaged in the business of life insurance in and outside India. It offers a range of individual and group insurance solutions including participating, non-participating and unit linked lines of businesses. The portfolio comprises various insurance and investment products such as protection, pension, savings, investment, annuity, health, and variable. Its segments include Participating Life Individual, Participating Pension Individual, Participating Annuity Individual, Non-Participating Life (Individual & Group), Non-Participating Pension (Individual & Group), Non-Participating Annuity Individual, Non-Participating Variable individual, Non-Participating Health individual, Non-Participating Unit Linked and Capital Redemption, and Annuity Certain Business (CRAC). Its endowment plans include Bima Jyoti, Bima Ratna, Dhan Sanchay, Single Premium Endowment Plan, Jeevan Labh, and others.
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