September 30, 2025: RBL Bank, one of India’s leading private sector banks, has announced a strategic bancassurance tie-up with Life Insurance Corporation of India (LIC), the country’s largest life insurer.
Bancassurance is a term used to describe a partnership between a bank and an insurance company, where the bank sells the insurance company’s products to its customers.
This partnership will give RBL Bank customers access to LIC’s full range of life insurance products—including term plans, endowment policies, pension schemes, and unit-linked insurance plans—through the bank’s wide branch network and digital channels.
The collaboration brings together LIC’s 3,600+ branches and satellite offices with RBL Bank’s 2,000+ touchpoints, including nearly 570 branches and 1,474 business correspondent outlets. Together, the institutions aim to strengthen life insurance penetration and advance the vision of “Insurance for All by 2047.”
Senior officials from both organizations were present at the formal announcement. The tie-up highlights a shared commitment to financial inclusion, ensuring customers across India can access trusted insurance solutions with greater ease.
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