Indian Bank ties up with LIC to launch four insurance products

Chennai: The Indian Bank has tied up with the Insurance Corporation of India (LIC), to offer four insurance products for its account holders - the IB Jeevan Kalyan, a life insurance policy for all customers; IB Griha Jeevan for home loan borrowers; IB Jeevan Vidya for students who have taken educational loans; and IB Insured RD for recurring deposit holders.

Indian Bank is also offering three new savings bank accounts with free insurance cover, a silver bank account with a minimum balance of Rs5,000, a gold account with a minimum balance of Rs10,000, and a platinum account with a minimum balance of Rs 25,000. For the platinum account holders in the age group between 18 and 45 years, an additional life insurance cover for Rs. one lakh will be provided.

The policies cover all people between the ages of 20 and 60.