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.
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.