Life Insurance Corporation of India (LIC) and Union Bank of India, after its amalgamation with Corporation Bank and Andhra Bank, have announced a corporate agency agreement to distribute LIC policies.
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The bank will market LIC products of term insurance, pension, plan, children plan, ULIPs, and endowment schemes. Union Bank of India can act as a financial supermarket by offering a basket of products to its account holders, whereby they can select products according to their choice.
Important takeaways for all competitive exams:
- LIC Chairman: MR Kumar.
- LIC Headquarter: Mumbai, Maharashtra.
- Union Bank of India MD & CEO: Rajkiran Rai G.
- Union Bank of India Headquarter: Mumbai, Maharashtra.
- Tagline of Union Bank of India: Good People to Bank with.
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