Bima Sakhi Yojana

Bima Sakhi Yojana Latest News

Life Insurance Corporation of India (LIC) recently entered into an MoU with the Department of Rural Development, Union Ministry of Rural Development, to promote its Bima Sakhi Yojana in rural areas.

About Bima Sakhi Yojana

• It is an initiative of the Life Insurance Corporation of India (LIC).
• It is a performance-oriented stipendiary scheme exclusively for women.
• It is designed to empower women aged 18-70 years, who are Class X pass. 
• They will receive specialized training and a stipend for the first three years to promote financial literacy and insurance awareness. 
• Female agents will get a stipend of Rs. 7,000 per month for the first year, Rs. 6,000 per month in the second year, and Rs. 5,000 per month in the third year.
• Bima Sakhis will also get commissions. They will receive a commission of Rs 48,000 (excluding bonus) for the first year.
• After training, they can serve as LIC agents, and the graduate Bima Sakhis would have the opportunity to qualify for being considered for Development Officer roles in LIC.
• The plan is to appoint two lakh Bima Sakhi over a period of three years.

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Bima Sakhi Yojana Eligibility

• Women must be aged between 18 and 70.
• The minimum qualification of a woman must be 10th grade passed.
• Preference will be given to women residing in rural areas.
• The following women are ineligible to apply for this scheme:
  • Women related to existing agents and employees of LIC. Relatives include spouses, children, adopted and stepchildren, parents, sisters, brothers, and immediate in-laws.
  • Women should not be retired employees and ex-agents of LIC.
  • Women should not be existing agents of LIC.

Source: TH