Prime Minister Narendra Modi launched the Bima Sakhi Yojana in Panipat, Haryana, on Monday. This Life Insurance Corporation (LIC) initiative aims to empower women aged 18-70 years who have completed Class 10.
The program seeks to raise awareness of insurance in rural regions while giving rural women the chance to become Bima Sakhis, or insurance brokers, and make a living.
What is Bima Sakhi Yojana?
LIC Bima Sakhi Yojana is anticipated to increase insurance uptake in underserved areas of India. By combining social welfare with corporate expansion, LIC hopes to empower women and further the larger objective of financial inclusion.
To encourage financial literacy and understanding of insurance, the program will provide women with specialized training and a stipend for the first three years. Women can work as LIC agents after completing the program, and upon graduation, Bima Sakhis will be eligible to apply for positions as development officers within LIC.
What is the Eligibility Criteria to Apply?
Candidates must provide proof of address, proof of age, and certificates of educational attainment in order to be considered for the program.
- Women aged between 18 and 70 years
- Minimum educational qualification of Class 10
- Relatives of existing agents and employees are not eligible
- Retired employees are not eligible
Stipend Under Bima Sakhi Yojana
The first year's commission for women will be Rs 48,000 (bonus excluded). Check the amount of stipend the Bima Sakhi will be getting under this yojana:
| Year | Commission (Rs) | Monthly Stipend (Rs) | Conditions |
| 1st Year | 48,000 (excluding bonus) | 7,000 | No specific condition for stipend |
| 2nd Year | - | 6,000 | At least 65% of policies completed in the first year must still be active at the end of the second year. |
| 3rd Year | - | 5,000 | Similar condition as in the second year. |
With the introduction of Bima Sakhi Yojana the government aims to tackle the prevailing status of financial dependency of women in rural areas. Bima Sakhis can also join the ranks of development officers within LIC with this scheme.
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