The LIC Bima Sakhi Yojana is a new initiative launched by the Life Insurance Corporation of India (LIC) aimed at empowering rural women by offering them opportunities to become insurance agents, known as “Bima Sakhi.” The scheme will be inaugurated by Prime Minister Narendra Modi on December 9, 2024, in Panipat, Haryana. It aligns with the government’s vision of women’s empowerment and economic inclusion. Under this program, women will be provided job opportunities along with financial assistance, making it a significant step toward gender equality and rural development.
What is LIC Bima Sakhi Yojana
The LIC scheme has been specially designed to empower women between the age group of 18 and 70 years, who have passed Class 10th. The eligible women will be provided specialized training and a stipend for the first three years. This will promote financial literacy and insurance awareness, read a statement from the Prime Minister’s Office.
Women empowerment is the big focus of Viksit Bharat 2047 and over Rs 3 lakh crore have been allocated in budget FY25 for women. As many as 25,000 women will be designated Bima Sakhis. Once the training is over, they will be allowed to serve as LIC agents, while the graduate Bima Sakhis would stand a chance to qualify for being considered for LIC Development Officer roles. The Bima Sakhis will also receive a monthly stipend of Rs 7,000 in the first year, Rs 6,000 in the second and Rs 5,000 in the third year.
LIC Bima Sakhi Yojana Overview
| Launch Date | 9th December 2024 |
| Inauguration by | Prime Minister Narendra Modi |
| Objective | Empower rural women by providing job opportunities as insurance agents. |
| Target Beneficiaries | Rural women between 18-50 years of age. |
| Minimum Qualification | Must have passed 10th grade. |
| Initial Recruitment | 35,000 women in the first phase. |
| Financial Assistance | Rs 7,000 per month in the first year. |
| Earnings in 2nd Year | Rs 6,000 per month. |
| Earnings in 3rd Year | Rs 5,000 per month. |
| Incentives | Extra Rs 2,100 per month and commission-based rewards for achieving targets. |
| Expansion Plans | Expansion to 50,000 women after the first phase. |
| Location | Initially launched in Haryana, to be expanded nationwide. |
LIC Bima Sakhi Yojana Job Opportunities
The LIC Bima Sakhi Yojana offers promising job opportunities for women, particularly in rural areas, by allowing them to become insurance agents, known as Bima Sakhis. This initiative aims to empower women financially and socially by providing them with a platform to earn a steady income. Under the program, women will receive financial support of up to Rs 7,000 per month.
The primary goal of the Bima Sakhi Yojana is to create job opportunities for rural women while simultaneously offering them financial assistance, thereby enhancing their financial independence and overall quality of life.
LIC Bima Sakhi Yojana: Earnings (Rs 7,000 to Rs 21,000)
The LIC Bima Sakhi Yojana offers a structured earning plan for women involved in the scheme. In the first year, women can expect to earn Rs 7,000 per month. This amount will decrease to Rs 6,000 per month in the second year and further reduce to Rs 5,000 per month in the third year. In addition to these monthly payments, participants will receive an additional incentive of Rs 2,100.
There will also be commission-based rewards for achieving specified insurance targets, offering further income opportunities for those involved in promoting insurance products under this scheme.
LIC Bima Sakhi Yojana Eligibility
- LIC Bima Sakhi Yojana has been launched to empower women financially
- The scheme targets women aged 18-70 to become volunteer insurance agents
- It offers three-year training with stipends and career growth in LIC
- Additionally, a minimum educational qualification of passing the 10th standard is required. Women will be given preference for enrollment under this initiative.
LIC Bima Sakhi Yojana Benefits
- Job Opportunities: Rural women can become insurance agents (Bima Sakhi).
- Financial Support: Monthly payments ranging from Rs 7,000 to Rs 5,000.
- Incentives: Additional Rs 2,100 and commission-based rewards.
- Empowerment: Provides financial independence and skill development for women in rural areas.
The Role of the Life Insurance Corporation (LIC)
The Life Insurance Corporation (LIC) plays a pivotal role in the success of this program. As one of India’s most trusted and well-established financial institutions, LIC brings credibility and dependability to the scheme. This association ensures that the program is recognized for its financial integrity, a crucial aspect when it comes to insurance-related products. Women, particularly those working as LIC agents, will greatly benefit from the organization’s stellar reputation, which will help them gain customer trust more easily.
Moreover, the program is designed to provide these women with structured support, including comprehensive training, resources, and guidance to excel as insurance agents. The commission-based earnings model offers them the opportunity to earn according to their performance, giving them both financial independence and the flexibility to maintain a healthy work-life balance.
Through this initiative, Prime Minister Modi continues his efforts to bridge the gender gap in the workforce and enhance women’s economic participation. The scheme is not only a significant step toward empowering women but also serves as a model that could inspire other states to launch similar programs focused on women’s empowerment and financial independence.
Bima Sakhi Yojana Documents Required
- Aadhaar Card
- Voter ID
- Passport
- Ration Card
- Birth Certificate
- Bank Passbook
- 10th Grade Marksheet or Certificate (Minimum requirement)
- Recent photographs for application submission
Bima Sakhi Yojana Apply Online
- Visit the Official LIC Website: Keep an eye on the official LIC website or local LIC office announcements for updates on online registration. https://licindia.in/
- Once the application portal opens, register using your personal details, such as name, age, address, contact information, and educational qualifications.
- Ensure you meet the age limit (18-50 years) and the minimum educational qualification (10th grade pass).
- You may need to upload proof of identity, address, and educational qualifications.
