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ABSLI Collaborates with Equitas Small Finance Bank to Broaden Life Insurance Reach.

Banking & Finance | Dated: 28 May 2025

In May 2025, Mumbai (Maharashtra)-based Aditya Birla Sun Life Insurance Company Limited (ABSLI), a Joint Venture (JV) between Aditya Birla Group and Sun Life Financial Inc., entered into a strategic partnership with Chennai (Tamil Nadu, TN)-based Equitas Small Finance Bank Limited (ESFBL) aimed at expanding life insurance accessibility in India through the bank’s branch network.

🎯 Key Highlights:

  • - The partnership focuses on enhancing financial protection and inclusion, especially in semi-urban and rural areas of the country.

💡 Other Important Facts:

  • (i) As per this bancassurance agreement, customers of ESFBL will be able to access a wide range of ABSLI’s insurance products including protection plans, savings plans, retirement solutions, endowments, and Unit Linked Insurance Plans (ULIPs).
  • (ii) The bank’s customers will also have access to new product offerings from ABSLI such as the Salaried Term Plan, Nischit Aayush Plan, and Assured Savings Plan.
  • (iii) This partnership aligns with the national vision of ‘Insurance for All by 2047’, which aims to serve underserved communities with quality financial protection.

📚 Test Your Knowledge:

Which life insurance company has partnered with Equitas Small Finance Bank to expand life insurance accessibility?

Correct Answer: Aditya Birla Sun Life Insurance

🚀 Quick Recap: