More than 1 crore customers of IDFC First Bank will now be able to buy LIC policies through the bank (IDFC First Bank).
LIC Policy: LIC, the country’s largest life insurance company, has signed an agreement with IDFC First Bank under corporate agency to increase its contribution to bancassurance and provide life insurance coverage to all by 2047. Both the companies signed this agreement on Tuesday (July 16).
Will be able to buy LIC policy from IDFC First Bank
With this agreement, more than 1 crore customers of IDFC First Bank will now be able to buy LIC policies through the bank (IDFC First Bank). LIC said in a press note that digital on-boarding has already been started for this. Once this is completed, customers will be able to buy LIC policy on the website of IDFC First Bank.
Everyone will get insurance cover by 2047
LIC said that the combined strength of its vast network of over 3600 branches and satellite offices spread across the country and IDFC First Bank’s vast network of over 1000 branches will make life insurance accessible across the country and will go a long way in achieving the goal of providing life insurance protection to all by 2047.
Being the country’s leading insurance company, LIC has a wide range of products including annuity, ULIP, savings and term insurance plans for all sections of the society.
