Aditya Birla Sun Life Insurance and IDFC First Bank have entered into a bancassurance partnership to offer insurance solutions to the bank’s customers. Under this collaboration, the insurer will leverage the extensive distribution network of IDFC First Bank.

Aditya Birla Sun Life will offer products and services, including those that focus on retirement planning, ensuring a steady source of second income and tax-free returns tailored to their life stages.

“This collaboration will go a long way in enhancing accessibility, as well as making financial protection and planning easily available to a wider segment of customers served by IDFC FIRST Bank’s extensive distribution network,” said Aditya Birla Sun Life Insurance MD and CEO Kamlesh Rao.

The partnership will provide customers with a one-stop-shop for their financial needs, including a range of insurance and banking products, and enhance the customer experience. The two organisations will also collaborate to create financial solutions that cater to the changing needs of customers, they said in a joint release.

“This partnership will also promote financial inclusion and increase awareness about insurance and protection amongst people,” said Vikas Sharma, Head, Wealth Management at IDFC FIRST Bank.