LIC Cards, IDFC First Bank, Mastercard Unveil Co-Branded Credit Card
IDFC First Bank, LIC Cards and Mastercard have joined hands to introduce an exclusive co-branded credit card tailored to meet the evolving financial needs of the nation.
The credit cards, available in two variants – LIC Classic and LIC Select, aim to provide over 27 crore policyholders nationwide the opportunity to accrue reward points with every LIC insurance premium payment, according to a joint statement released.
Aside from this, cardholders will benefit from features like a lost card liability cover of up to Rs 50,000 and a personal accident insurance cover of up to Rs 5 lakh. V Vaidyanathan, MD of IDFC Bank, expressed enthusiasm about extending these additional perks to LIC policyholders opting for this credit card, alongside co-brand benefits. He also emphasised the partnership with Mastercard as a global presence in this initiative.
Siddhartha Mohanty, Chairman of LIC Cards, highlighted the partnership's significance in delivering top-notch services to their esteemed clientele. He emphasised the synergy between LIC's trusted brand image and IDFC First Bank's focus on customer-centricity, predicting a rewarding experience for customers and a valuable digital tool to enhance security in their lives.
LIC Cards, a subsidiary of the insurance giant Life Insurance Corporation of India (LIC), revealed that both card variants would offer travel perks like complimentary access to airport and railway station lounges. Additionally, they will provide protective covers such as personal accident insurance, ensuring a comprehensive range of benefits for cardholders.
