IndusInd Bank ties up for Group Insurance Scheme with LIC of India

Company Release, September 17

NEW DELHI

IndusInd Bank today announced the launch of a ‘Group Insurance Scheme’ for its current and saving account holders in association with Life Insurance Corporation of India.

The scheme is open to all individual account holders aged between 18 and 54 years maintaining Current and saving accounts with IndusInd Bank. Under the scheme, resident account holders are eligible for an insurance cover of Rs. 1 lac and Non Resident Indians can extend it to Rs. 3 lacs. IndusInd Bank is the first Bank to offer a cover of Rs. 3 lacs to the Non Resident Indian Saving Accounts under a Group Insurance Scheme. The scheme can be availed by just giving a declaration of good health thereby saving the account holders the inconvenience of undergoing medical examination.

Bhaskar Ghose, Managing Director, IndusInd Bank said, “We have always endeavored to provide differentiated products and services to our account holders to meet all their personal banking requirements and make their lives hassle free. Group Insurance Scheme, in association with LIC - largest, oldest and the most reputed insurance company of the country, is a step in that direction and reinforces our commitment of providing our customers extra care from heart. It is a value added facility for our account holders that provides insurance cover at a concessional premium as compared to normal insurance cover. The features of this product blend well with our service philosophy we care…Dil Se ”

Speaking on the occasion, K. Sridhar, Managing Director, Life Insurance Corporation of India, said,"The tie up with IndusInd Bank was in line with LIC’s continued focus on Bancassurance.With this tie-up, the account holders of IndusInd Bank today have a value-addition to their accounts to get high life cover at a low premium.In this year of Golden Jubilee, LIC is taking all steps to reach out to people not only through individual insurance but also through group products like this scheme for account holders of banks”.

For more information, please contact:

N. Suresh Pai

Executive Vice President

IndusInd Bank

022- 56412200

Toral Sanghavi

Associate Director-Client Service

Clea PR @ 98210 45486 / 24988671