The sale of insurance and other similar products through a bank. This can help the consumer in some situations; for example, when a bank requires life insurance for those receiving a mortgage loan, the consumer could purchase the insurance directly from the bank. Some critics feel that bancassurance gives the bank too much control. Bancassurance is not legal in all countries, but it is legal in the United States.
Related information about bancassurance:
- Bancassurance - Wikipedia, the free encyclopedia
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An arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank's client base.
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bancassurance noun - definition, audio pronunciation, synonyms and more for bancassurance noun: a business activity in which banks sell services and ...