Aviva Life Insurance ties up with 11 cooperative banks

Aviva Life Insurance has tied up with 11 co-operative banks across India. This tie up has made the company as the largest private insurer having the highest number of Bancassurance tie-ups in India. The company has set a target to sell 6000 policies in rural and semi-urban areas by the end the year 2006. It also intends to expand its distribution network in Gujarat, Maharashtra, Rajasthan and Jammu& Kashmir. It will offer products like Anmol Suraksha (a traditional endowment product with guaranteed benefit), EasyLife Plus (a unit-linked endowment product), Lifelong (a flexible whole life plan), PensionPlus (a retirement solution), LifeBond 5 (unit-linked with limited premium payment term of 5 years) to the customers of the banks. The business model with these 11 Co-operative banks will be similar to the existing bancassurance relationships that Aviva already has in place with its current partners - ABN Amro, AMEX, Punjab & Sind Bank, Canara Bank and Lakshmi Vilas Bank.

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