RBL Bank and LIC Forge Bancassurance Alliance

RBL Bank has partnered with Life Insurance Corporation of India (LIC) to offer life insurance products through its branches and digital channels. This alliance aims to expand insurance accessibility in line with the goal of 'Insurance for all by 2047'.

Private sector entity RBL Bank announced a new bancassurance partnership with Life Insurance Corporation of India (LIC) on Tuesday. LIC holds the title as India's largest life insurer.

This strategic collaboration allows RBL Bank's clientele to access a robust selection of LIC's life insurance offerings, including term plans, endowment, and pension schemes, through the bank's extensive network and digital platforms.

With an extensive reach of over 3,600 LIC branches and satellite offices, coupled with RBL Bank's 2,000-plus touchpoints, this alliance is set to increase the penetration of life insurance across India, supporting the vision of 'Insurance for all by 2047', according to RBL Bank.

(With inputs from agencies.)