Bancassurance

Bancassurance is a contract in which a bank and an insurance company agree to sell insurance products to the bank's client base. Sort of like a bundled joint sale, which has nothing to do with marijuana.

The bank markets the wares of the insurance company, perhaps under a different wrapper or label, perhaps not.

The insurance company is given access to a new client base to market to, and a new marketing group.

The bank gets marketing fees or commissions from the sale of the insurance products.

This partnership arrangement can be profitable for both companies.