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Life Insurance Corporation of India and Axis Bank have signed an agreement to offer credit-card services to the customers and employees of LIC, its subsidiaries and group companies.
The LIC credit-cards programme will be on four product variants, namely, Visa Gold, MasterCard Titanium, Visa Platinum, and Visa Signature Credit-Card, the release said.
In addition to regular credit-card benefits like global acceptance, interest free credit period, cash withdrawal, and so on, LIC-cardholders will also get fuel surcharge waiver across all fuel pumps (not applicable to Gold Credit-Card) and lost card liability insurance cover to all cardholders.
LIC cardholders will get bonus reward points for paying LIC policy premiums through the card, the release said.
LIC already offers a credit card issued jointly with Corporation Bank.
The joint venture, which started issuing cards a year ago, has a base of about 50,000 credit-cards, said a senior official from Corporation Bank.
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