© 2019 IJRAR June 2019, Volume 6, Issue 2 www.ijrar.org (E-ISSN 2348-1269, P- ISSN 2349-5138) IJRAR19K6680 International Journal of Research and Analytical Reviews (IJRAR) www.ijrar.org 809 Bancassurance model and its impact on Financial Inclusion: Review and Analysis Puja Dua, Dr. Namita Sahay, Dr O.S.Deol Amity University ABSTRACT India has a huge population of more than two hundred million middle class income group population which amounts to a large depositor base. It has around 80,000 network of branches spread across the country. It has the highest potential to attain financial inclusion in the perview of Insurance sector through bancassurance. But the fact is there are a huge number of people who either do not possess bank accounts or they are not covered under any type of insurance schemes. The model of Bancassurance can be a greatest advantage to middle class population in India which are covered under banking or insurance. Bancassurance is beneficial to all. The insurance companies take the advantage of the assurance and faith that the banks have already earned through its customers relationship and thus enter into wide ranging partnerships so as to expand their purview. The banks also in return enjoys appreciation from the customers for providing varities of financial services under a single roof building a strong the customer relationship and as a result creating better customer loyalty and higher retention levels. The main objective of insurance company’s motive to increase their level of market penetration and enhance premium turnover is achieved by using bancassurance as a tool. The customer thinks bancassurance as an extra bonus in terms of high quality product, reduced price, expertise guidance and delivery at the doorsteps. This paper is an effort to study the potential and prospect of bancassurance and to revisit the literatures to anticipate the overall effect of Bancassurance if any on the financial inclusion era in India. The study infers that there is massive scope for bancassurance concept and model of operation in Indian market and it would play a significant vital role for the growth and prosperity of financial sector of the nation. Keywords: Bancassurance, financial inclusion, GDP, foreign direct investment, IRDA