India’s largest small finance bank AU Small Finance Bank (AU SFB) has announced a strategic partnership with the country’s largest life insurance company Indian Life Insurance Corporation (LIC). This cooperation supports the national approach to ‘Insurance for all by 2047’, which aims to deepen insurance penetration and financial security in India’s deprived population.
The partnership will distribute the AU SFB LIC’s wide portfolio of Life Insurance Solutions of LIC, including term insurance, endowment plan, entire life policy, pension and annuity products, and child-specific plans to meet a wide range of safety and retirement and retirement requirements. These offers will be available in 21 states and 4 union territories at 2,456+ banking touchpoints of AU SFB, which will greatly expand the reach of LIC in rural and semi-urban areas.
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