IDFC First Bank to launch LIC co-branded credit card
What's the story
IDFC First Bank, LIC Cards, and Mastercard have teamed up to introduce a unique co-branded credit card. It will be available in two versions: LIC Classic and LIC Select. This collaboration aims to cater to the diverse financial needs of over 27 crore LIC policyholders throughout India. The card will offer reward points for every LIC insurance premium payment, as well as additional perks such as lost card liability coverage and personal accident insurance.
Details
What are the features included in the card?
The LIC credit card will provide benefits of up to Rs. 50,000 in lost card liability coverage and personal accident insurance of up to Rs. 5 lakh. Both card variants will feature travel perks like complimentary access to airport and railway station lounges, and protective covers like personal accident insurance. Cardholders can also enjoy a 1% fuel surcharge waiver and roadside vehicle assistance worth Rs. 1,399. The card will cater to consumers of all ages across the country.
What Next?
Added benefits for LIC policyholders
IDFC Bank MD V Vaidyanathan stated that extra benefits would be extended to LIC policyholders who choose this credit card. He expressed his delight in partnering with Mastercard for this initiative. LIC Cards Chairman Siddhartha Mohanty emphasized that the partnership demonstrates their dedication to delivering top-notch services to their valued customers.