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  What is Bancassurance? Write its merits and demerits. Bancassurance is a strategic partnership between a bank and an insurance company that allows the bank to distribute insurance products to its customer base. Here's a breakdown of its merits and demerits: Merits: Convenience: Customers can access a wider range of financial products (banking and insurance) from a single source, saving time and effort. Cross-selling: Banks can leverage their existing customer relationships to introduce insurance products, potentially increasing revenue for both parties. Customer Benefits: Customers might benefit from bundled deals or discounts when purchasing insurance through their bank. Risk Diversification: Banks can diversify their revenue streams by venturing into insurance, potentially mitigating risks. Demerits: Potential for Mis-selling: Bank staff might prioritize sales targets over providing appropriate insurance advice, leading to mis-selling. Limited Product Choice: Customers m