LIC joined hands with IDFC First Bank to sell online life insurance policies.
Under the corporate agency arrangement, the Life Insurance Corporation of India (LIC) has signed an agreement with IDFC First Bank Ltd.
It will facilitate more than 1 crore customers of IDFC First Bank to buy LIC policies online through the bank website.
The agreement is part of efforts to increase the contribution of bancassurance and to provide life insurance coverage to all by 2047.
The combined strength of a network of more than 3,600 branches and satellite offices of LIC and over 1,000 branches of IDFC First Bank would help in the penetration of life insurance across the country.
