LIC Partners with AU Small Finance Bank: Life Insurance Now Just a Click Away for Millions in Rural India

Life Insurance Corporation of India (LIC) has entered into a corporate agency partnership with AU Small Finance Bank. This collaboration, officially launched on 14 July 2025 via a joint webcast, will allow AU Small Finance Bank to offer LIC's full range of life insurance products to its customers through both physical branches and digital platforms.

LIC Ties Up With AU Small Finance Bank

LIC, the country's largest life insurance provider, and AU Small Finance Bank, one of India's leading small finance banks, aim to combine their strengths to bring comprehensive insurance solutions to a wider audience, especially in rural and semi-urban areas where access to such services has traditionally been limited.

Collaboration to Drive "Insurance for All by 2047"

This alliance aligns with the government's long-term vision of "Insurance for All by 2047", aiming to ensure every citizen is protected under a life insurance plan. Through this partnership, AU Small Finance Bank will distribute LIC's wide portfolio of life insurance products including Annuity plans, ULIPs (Unit Linked Insurance Plans), Term Insurance, and Savings plans - through its extensive network of branches and digital platforms.

By leveraging LIC's over 3,600 branches and satellite offices, alongside AU Bank's 2,500+ customer touchpoints, the two institutions seek to simplify access to life insurance products across India, enabling more people to secure their financial futures.

Speaking about the collaboration, LIC officials highlighted the importance of synergy between banking and insurance sectors to achieve inclusive financial growth. The partnership is particularly expected to benefit customers in remote and underpenetrated markets, where AU Bank has built a strong presence with its grassroots-level engagement.

"The event marked a significant step toward greater financial inclusion and the expansion of insurance penetration, especially in underserved and rural segments where AU Small Finance Bank has a strong presence," highlighted Executive Director at LIC of India.

"Through this tie-up, AU Small Finance Bank will distribute LIC's wide range of life insurance products including Annuity, ULIP, Term Insurance and Savings category-across its branches and digital channels. This will empower AU Bank's customers to access trusted, comprehensive protection and long-term savings solutions under one roof," LIC Executive Director .

Similarly, AU Small Finance Bank reiterated its aim to deliver holistic financial services to its clientele by integrating trusted insurance products from LIC into its ecosystem, thereby enhancing customer value and financial well-being.