LIC Partners with Saraswat Cooperative Bank To Increase Insurance Accessibility

Life Insurance Corporation of India in its effort to increase the penetration of life insurance through Bancassurance channel has recently tied-up with Saraswat Cooperative Bank Ltd., a scheduled bank headquartered at Mumbai. The Bank has a vast network of 294 Branches as at March 31, 2023 spread over 6 states and is catering to over 2 million customers. It has also got a distinction of being India’s largest Urban Cooperative Bank.

Citizens in general and customers of Saraswat Bank in particular will now have the opportunity of fulfilling their life insurance protection needs through the Bank itself by purchasing insurance products of LIC. Being the premier insurer of the country, LIC has plans for all segments of the society under its product basket of Annuity, ULIP, Term Insurance and Savings category. Recently LIC has launched a close ended Guaranteed Benefit plan “Dhan Vriddhi” which is available till 30th September, 2023 only, to persons of all age ranging from 90 days to 60 years.

LIC acquires shares in Tata Chemicals

LiIC of India also acquired an additional 2 per cent stake in Tata Chemicals increasing its holding to 9.177 per cent, the company announced on Friday. The company's share increased to 9.177 per cent representing 2,33,78,890 shares at an average price of Rs 999.35.

LIC shares

The shares of LIC on Monday closed at Rs 655, up by 1.03 per cent.

Published on: Monday, August 28, 2023, 04:15 PM IST