LIC Credit Cards: Mastercard, LIC Cards, and IDFC First Bank have announced their collaboration to launch a distinctive co-branded credit card designed to meet the changing financial needs of the country. These credit cards, which come in two flavors: LIC Classic and LIC Select, allow more than 27 crore policyholders countrywide to accrue reward points with every payment made for LIC insurance premiums, according to a joint statement.
Distinctive Co-Branded Credit Cards
According to the joint announcement, the cards will come with benefits like personal accident insurance coverage of up to Rs 5 lakh and lost card liability coverage of up to Rs 50,000. “Now, these additional benefits will be extended to LIC policyholders also, who opt for this credit card, along with co-brand benefits. We are also delighted that MasterCard with its global presence is our partner in this card,” PTI quoted IDFC Bank MD V Vaidyanathan in its report.
Commitment to Customer Excellence
LIC Cards Chairman Siddhartha Mohanty said, “The partnership signifies our commitment to provide the best services to our valued customers. The new partnership will create synergy by collaborating Brand LIC which signifies ‘Trust’ and IDFC First Bank which represents new age Customer Centricity. I firmly believe that the co-branded credit card will bring rewarding experience to all our customers and will provide significant digital tool for making their life secure,” PTI quoted Mohanty, who is also the LIC Chairman.
Ownership by LIC
The massive insurance company Life Insurance Corporation of India (LIC) owns LIC Cards. According to the statement, both card varieties will provide travel perks like free access to airport and train station lounges as well as a range of insurance options, including personal accident insurance.
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