LIC TIES UP WITH IDFC FIRST BANK LTD FOR BANCASSURANCE

 Continuing with its endeavor to increase the contribution of bancassurance and its pursuit 

to provide life insurance coverage to all by 2047, LIC has tied-up with one of the 

best technologically advanced and promising banks in the country, IDFC First Bank Ltd, under 

Corporate Agency Arrangement. The Agreement for tie-up was signed on 16th July. 

This tie-up will facilitate more than 1 Cr customers of IDFC First Bankwho will now be able 

to buy LIC policies through the Bank. The journey of digital on-boarding has already started and 

is in development phase and once completed; customers will be able to buy LIC policies online 

by visiting Bank’s website. A very tech-savvy bank where more than 95% transactions are 

happening online, it would be a great experience for the bank customers to have end to end 

solution for their varied life insurance needs. 

Combined strength of a vast network of more than 3600 branches and Satellite Offices of LIC 

and over 1000 branches of IDFC First Bank, the penetration of life insurance across the country 

would be made easier and this will go a long way in achieving the goal of providing life 

insurance protection to all by 2047. 

Being the premier insurer of the country, LIC has plans for all segments of the society 

with umbrella of variety of products consisting of Annuity, ULIP, Savings and Term Insurance. 

On this occasion, LIC’s MD, Sri. R Doraiswamy informed that the coming together of these 2 

organisations will provide the digital savvy customers of IDFC First Bank with the wide choice of 

attractive products of LIC. 

 

 

Dated at Mumbai on July 16th, 2024 

 

For Further Information please contact: Executive Director (CC) LIC of India, Central 

Office, Mumbai. Email id: ed_cc@licindia.com Visit us at www.licindia.in 

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We believe that the news contained in this release is of value to your readers. While we 

would thank you to publish it as soon as possible, we also readily recognize that the 

decision to do so rests entirely with you. 

PRESS RELEASE

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