LIC and Yes Bank Join Forces in New Bancassurance Deal to Boost Reach

The Life Insurance Corporation of India has entered into a strategic bancassurance partnership with Yes Bank.  

The agreement will enable customers of the bank to access LIC’s life insurance products across physical branches and digital platforms. 

Key Development: Nationwide Distribution Expansion 

By combining LIC’s presence of more than 3,600 branches and satellite offices with Yes Bank’s 1,295 branches and 235 business correspondent outlets, the partnership aims to strengthen nationwide insurance accessibility.  

Through this collaboration, Yes Bank customers can access LIC’s portfolio of term plans, endowment policies, pension schemes and unit linked insurance plans. The initiative aligns with the broader objective of achieving “Insurance for All by 2047.” 

Details of Newly Launched LIC Plans 

LIC has recently introduced 2 new plans titled Protection Plus and Bima Kavach. 

Protection Plus is a non par, linked, individual savings plan that provides life cover along with savings throughout the policy term.  

The plan allows flexibility in fund selection, adjustment of the sum assured and the option to pay top up premiums. Partial withdrawal is permitted after five years from the start of the policy. The proposer selects the premium amount, which determines the basic sum assured, and premiums can be paid through Regular Pay or Limited Pay. 

Bima Kavach is a non par, non linked, individual pure risk plan that offers financial support to the insured’s family in the event of death during the policy term. It provides two death benefit choices, namely Level Sum Assured and Increasing Sum Assured, with premium payment options that include single, limited and regular.  

The policy term can extend up to 100 years for enhanced long term protection, and benefits can be received in instalments if preferred. The plan also allows the life assured to increase coverage at significant life stage events such as marriage or the birth of a child under the Level Sum Assured option with regular premium payment. 

Share Price Performance  

As of December 05, 2025, at 11:10 AM, LIC share price is trading at ₹875.20 per share and Yes Bank share price is trading at ₹22.54 per share. 

Conclusion 

The partnership between LIC and Yes Bank expands insurance availability for a wide range of customers by combining extensive branch networks with digital access. Alongside newly launched products aimed at offering flexibility and long term security, the collaboration supports the national goal of broad based financial protection. 

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