The LIC Bima Sakhi Yojana is a groundbreaking initiative introduced by LIC to empower women, particularly from economically weaker sections, by providing them with career opportunities in the insurance sector.
Launched in Panipat, Haryana, this program reflects the government’s commitment to fostering financial independence for women while strengthening their role in the insurance industry.
Highlights of LIC Bima Sakhi Yojana
Union Finance Minister Nirmala Sitharaman emphasized the growing engagement of women in the insurance sector during the program’s launch. The initiative seeks to recruit 25,000 women in its initial phase, targeting a total of 2 lakh women by 2026. The scheme not only offers financial stability but also opens doors to lifelong professional growth.
Key Features of LIC Bima Sakhi Yojana
Women-Centric Career Program
The program aims to empower women by recruiting them as insurance agents under the title Mahila Bima Sakhi. Women agents will receive professional training, a monthly stipend, and the opportunity to earn commissions.
Financial Benefits
Participants will earn a monthly stipend during the initial three years:
- Year 1: ₹7,000
- Year 2: ₹6,000
- Year 3: ₹5,000
In addition to the stipend, agents can earn commissions based on the insurance policies they secure. The income potential grows with the business they generate.
Long-Term Career Path
After completing three years, participants can continue their association with LIC as lifelong career agents, ensuring sustainable employment opportunities.
Eligibility Criteria
The LIC Bima Sakhi Yojana is open to women who meet the following criteria:
- Educational Qualification: Minimum 10th-grade pass.
- Age Range: 18 to 70 years.
- Background: Priority given to women from economically weaker sections.
Stipend Details for LIC Bima Sakhi Yojana
| Year of Employment | Monthly Stipend (₹) | Additional Income Potential |
|---|---|---|
| Year 1 | 7,000 | Commission on policies sold |
| Year 2 | 6,000 | Commission on policies sold |
| Year 3 | 5,000 | Commission on policies sold |
Growth in Women’s Participation in LIC
Since 2017-18, LIC has witnessed a significant increase in women’s participation:
- 2017: 6 lakh women agents.
- 2023: 7.45 lakh women agents.
This steady growth highlights the success of LIC’s efforts to empower women through employment in the insurance sector.
Ambitious Target: 2 Lakh Women Agents by 2026
LIC plans to recruit 2 lakh women agents under the Bima Sakhi Yojana by 2026. This ambitious goal aims to bridge the gender gap in the insurance sector while promoting financial inclusion.
How to Apply for LIC Bima Sakhi Yojana
Eligible women can apply through LIC’s official website or their nearest LIC office. The application process involves the following steps:
- Submission of educational and identity documents.
- Verification and approval by LIC authorities.
- Professional training and onboarding as LIC agents.
Career Benefits
Financial Independence
The stipend and commission-based income provide financial security and independence for women.
Professional Growth
The program equips participants with skills in sales, communication, and customer service, paving the way for career growth.
Social Empowerment
By targeting women from economically weaker sections, the program promotes social upliftment and gender equality.
Prime Minister’s Vision
Prime Minister Narendra Modi, while inaugurating the program, reiterated the government’s commitment to empowering women through innovative schemes like the LIC Bima Sakhi Yojana.
He also laid the foundation stone for the Maharana Pratap Horticultural University, showcasing the government’s holistic approach to development.
The LIC Bima Sakhi Yojana is more than just a career opportunity; it is a movement to empower women financially and professionally.
By providing financial support, professional training, and lifelong career opportunities, this scheme is set to transform the lives of countless women across India.
What is the LIC Bima Sakhi Yojana?
LIC Bima Sakhi Yojana is a women-centric career program by LIC to recruit and empower women as insurance agents, offering them financial and professional growth opportunities.
What is the eligibility for the LIC Bima Sakhi Yojana?
Women aged 18-70 years with a minimum 10th-grade education are eligible to apply. Priority is given to women from economically weaker sections.
How much can women earn under the LIC Bima Sakhi Yojana?
Participants earn a stipend of ₹7,000 in the first year, ₹6,000 in the second year, and ₹5,000 in the third year, along with commission-based earnings.
