Max New York Life, one of India's leading life insurance companies, Thursday signed an agreement with a leading cooperative bank of Andhra Pradesh to offer its products.

Under this bancassurance pact, Andhra Pradesh Mahesh Cooperative Bank will offer Max New York Life's products through its network of 30 branches to its more than 200,000 customers.

This is the sixth agreement signed by Max New York Life with cooperative banks in the country during the last nine months. "The cooperative banks are closely held and run and we believe that given their geographical focus they have strong customer relationships," said Rajesh Sud, executive director, agency, bancassurance and direct sales distribution, Max New York Life.

He, however, did not rule out the company having similar agreements with public sector and private banks in future.

Max New York Life, a joint venture between Max India Limited and New York Life, offers 14 base products and nine riders that can be customised to over 400 combinations. Bancassurance accounts for about 10 percent of the total insurance sales of the company.