Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the Bank’s customers. The insurance products to our customers acts as an add-on service offered by the Bank in addition to the normal Banking services.

Bangiya Gramin Vikash Bank has taken lot of new initiatives for the benefit of its valued customers. With an object to offer the customers of the Bank a one stop contact point having an array of various financial products under one roof and fulfilment of their diverse needs, Bank has entered into tie-up with renowned Insurance Companies.

Life Insurance

BGVB is currently having Tie-Up arrangement with the “PNB MetLife Insurance Company Limited”, “Life Insurance Corporation of India” (LICI) & “Reliance Nippon Life Insurance Company Limited” for selling Life Insurance products.

PNB Metlife India Insurance Company Limited

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India (Source – CRISIL), has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank (PNB), M. Pallonji and Company Private Limited, Jammu & Kashmir Bank Limited (JKB), and other investors, with MIHL and PNB being the promoters of the Company. PNB MetLife has been present in India since 2001.

For more details about products and policy servicing along with grievances (if any), visit PNB MetLife Website https://www.pnbmetlife.com/

Life Insurance Corporation of India

LIC of India has been established as a Corporation in 1956 by an act of Parliament and allowed sovereign guarantee to its policyholders under Section 37 of LIC of India Act, 1956. In Bancassurance business, LIC is also one of the leading players tied up with 12 PSU Banks, 5 Pvt Sector Banks, 18 Regional Rural Banks, 36 Co-operative Banks & 1 Foreign Bank.

For more details about products and policy servicing along with grievances (if any), visit Life Insurance Corporation of India Website https://licindia.in/

Reliance Nippon Life Insurance

Reliance Nippon Life Insurance Company Limited is amongst the leading private sector life insurance companies in India in terms of individual WRP (Weighted Received Premium) and new business WRP. The company is one of the largest non-banks-supported private life insurers with over 10 million policyholders*, a strong distribution network of 713 offices and 61,036 advisors as on March 31, 2024.

For more details about products and policy servicing along with grievances (if any), visit Reliance Nippon Life Insurance Website https://www.reliancenipponlife.com/

General Insurance

BGVB is currently having tie-up with the following companies to provide our customers with wide range of Bancassurance services.

•  The Oriental Insurance Company Limited (OICL) - General Insurance
•  Bajaj Allianz General Insurance Company Limited (BAGIC) - General Insurance
•  CARE Health Insurance Ltd (CHIL) - Standalone Health Insurance

All General Insurance partners are offering an array of products e.g. Fire Insurance, Motor Insurance, Marine Insurance & Misc. Insurance Policies like Shop-keepers’ Policy, Theft/ Burglary Policy, Personal Accident Policy for our customers, at a competitive price with assured post sale services.

Stand Alone Health Insurance partner i.e. Care health Insurance Ltd. is offering all ranges of health insurance at a competitive price with assured post sale services.

Disclaimer

• Insurance is the subject matter of the solicitation.
• For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Participation by customers is on voluntary basis.
• Contract will be between Insured & Insurer and not between Insured & the Bank. Bangiya Gramin Vikash Bank is a licensed Corporate Agent under the license number CA0419.
• Bangiya Gramin Vikash Bank is only a Corporate Agent to above Life and General Insurance companies and it does not underwrite the risk or act as an insurer in any case.