The Life Insurance Corporation of India (LIC) has tied-up with IDFC First Bank Ltd. under a corporate agency arrangement.

• Under this agreement more than one crore customers of IDFC First Bank will be able to buy LIC policies through the bank.
• The agreement is part of efforts to increase the contribution of bancassurance and in pursuit to provide life insurance coverage to all by 2047, the insurer said in a release on the agreement signed on Tuesday.
• On completion of digital process, IDFC First Bank customers will be able to buy LIC policies online by visiting the bank’s website.
• It is a tech-savvy bank with more than 95% transactions taking place online, LIC said.