Bancassurance means

A. Selling insurance product through banks

B. It means protection from financial loss

C. It is the amount the policy holder will get from the life insurance company

D. It is a monetary benefit given by the employer to his employee at the time of retirement

Detailed Solution:

The correct answer is selling insurance product through banks.

Key Points: 

• Bancassurance means selling insurance product through banks.
• Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company's insurance products to its clients.
• This partnership arrangement can be profitable for both companies.
• Banks earn additional revenue by selling insurance products, and insurance companies expand their customer bases without increasing their sales force.