LIC is India’s largest public-sector insurance company. Its client base is spread across India. In December 2024, LIC launched the “LIC Bima Sakhi Yojana.” This scheme aims to make Indian women financially independent by training them as insurance agents. LIC targets to spread and consolidate its client base in rural and semi-urban areas.
The LIC Bima Sakhi Yojana aims to enable Indian women to be financially secure and independent.
Launch of LIC’s Bima Sakhi Yojana
Prime Minister Narendra Modi launched this scheme on December 9, 2024, in Panipat, Haryana, with the intention to empower women aged between 18 and 70 years by offering them roles as insurance facilitators. This scheme helps in providing employment opportunities, increasing financial literacy and insurance awareness across the country.
Objectives of the Scheme
- Women’s Upliftment: By providing training and financial support, the scheme aims to make women financially independent and self-reliant
- Increase Insurance Penetration: The initiative focuses on increasing the reach of insurance products in rural and semi-urban areas where awareness is typically lower.
- Financial Independence: BimaSakhis are trained to educate people about the importance of insurance and financial planning, thereby improving overall financial literacy.
Key Features of the Bima Sakhi Yojana
- Targeted Age Group: The scheme is exclusively for Indian women aged between 18 and 70 years.
- Educational Qualification: 10th standard pass
- Exclusions: Certain individuals are not eligible to apply, including 1. Relatives of current LIC employees or agents (spouses, children, parents, siblings, or immediate in-laws) 2. Retired LIC employees. 3. Former LIC agents. 4. Current LIC agents.
Monetary Benefits
- Stipendiary Support: Participants receive a monthly stipend during the three-year training period
- First Year: ₹7,000 per month.
- Second Year: ₹6,000 per month (subject to at least 65% of policies completed in the first year remaining in force.
- Third Year: ₹5,000 per month (subject to at least 65% of policies completed in the second year remaining in force.
- Performance Norms: To continue receiving the stipend, participants must meet specific performance criteria each year
- Number of Lives Insured: 24 policies per year
- First Year Commission: ₹48,000 (excluding bonus commission)
- Career Progression: After successful completion of the training period, Bima Sakhis have the opportunity to become full-fledged LIC agents, with potential for further advancement within the organization.
Application Process
Interested candidates can apply for the Bima Sakhi Yojana by following these steps:
- Online Application: Visit the official LIC Bima Sakhi website and complete the online application form. Online Application Forms
- Document Submission: Upload self-attested copies of the required documents, including:
- Proof of age (e.g., birth certificate, Aadhaar card).
- Proof of address (e.g., utility bill, Aadhaar card).
- Educational certificates (10th standard pass certificate).
- Selection and Training: Upon successful verification of documents and meeting the eligibility criteria, candidates will be selected for the training program.
Training and Responsibilities
Selected candidates undergo intensive training over three years, during which they receive a stipend. The training gives them detailed Product Knowledge about LIC’s insurance products and services.
Sales Techniques: Effective methods for approaching potential clients and closing sales.
- Financial Literacy: Education on financial planning and the importance of insurance in financial security
- As Bima Sakhis, their primary responsibilities include:
- Community Engagement: Educating community members about the benefits of life insurance and financial planning.
- Policy Sales: Assisting individuals and families in selecting and purchasing suitable insurance policies.
- Client Support: Providing ongoing support to policyholders, including assistance with claims and policy renewals.
Progress of LIC SAKHI YOJANA
The Bima Sakhi Yojana has witnessed tremendous response since its inception. In one month of launch, over 50,000 women registered for the program. This shows its widespread response and the willingness of Indian women to participate in the insurance sector. As of 31st March, 2025, LIC has kept a target of enrolling 2 Lakhs (2,00,000) women as BIMA SAKHIS over the next three years.
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