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Insurance
25-Aug-23
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LIC ties up with Saraswat Cooperative Bank for bancassurance partnership
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Life Insurance Corporation (LIC) has tied up with Saraswat Cooperative Bank, a scheduled bank headquartered in Mumbai, for bancassurance partnership to distribute its products.
The partnership is part of efforts to increase penetration of life insurance through the bancassurance channel, LIC said.
“The largest urban cooperative bank in the country, Saraswat Cooperative Bank, with a network comprising 294 branches across six States, caters to more than two million customers”, the State-owned life insurer LIC said in a release on Friday.
LIC said it has insurance products for all segments of society, from annuity, ULIP, term insurance to savings plans.
Its close ended guaranteed benefit plan Dhan Vriddhi, for the age 90 days to 60 years is available till September 30.
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