Policybazaar Announces Tie-up with LIC to Amplify Insurance Reach

In a one-off deal, state-owned insurance giant LIC tied up with Policybazaar to distribute a range of its insurance offerings through the latter’s robust digital distribution channel. “This affiliation aims at facilitating seamless digital distribution of life insurance products across the nation,” said Sarbvir Singh, CEO of Policybazaar.com.

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LIC has been spearheading the life insurance segment for the longest time, and this marks its first-ever partnership with an insurance aggregator. Both parties hope for the alliance to enable accelerated insurance awareness and penetration. 

Key highlights of the newly-formed alliance are:

  •  Policybazaar will distribute LIC’s range of term and investment products.

  • The policies will be sold offline in the initial stages and later integrated onto its online platform. 

  • Online integration of the two products is already ongoing between the technical teams of both partners.

  • The alliance is expected to amplify insurance reach in smaller cities, ensuring financial inclusion and social security in these areas.

As quoted in their official statement, the two parties aim to serve a broader base of consumers across different age groups, demographics, and locations through this strategic tie-up. The announcement was made on 3rd February 2022 in the presence of the top management officials of both firms, including Dinesh Bhagat, Zonal Head, LIC, and Sarbvir Singh, CEO, Policybazaar.


Premium By Age

˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com  in the first 6 months of FY 24-25.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

© Copyright 2008-2025 policybazaar.com. All Rights Reserved

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.

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