J&K Bank and HDFC Life Corporate Agency Tie-Up
Why in the news
J&K Bank agreed to act as a corporate agent for HDFC Life, so its customers can buy life insurance at the bank.
Key facts
- Agreement type: Corporate Agency Agreement.
- Parties: Jammu & Kashmir Bank and HDFC Life Insurance Company.
- Products: protection, savings and investment, retirement planning and other life-stage needs.
- Aligned with IRDAI’s ‘Insurance for All by 2047’.
About HDFC Life
- Set up in 2000; headquartered in Mumbai; promoted by HDFC Bank.
Exam angle
- Regulator named: IRDAI.
- Bancassurance-style tie-up: bank branches distribute insurer’s products.