LIC Bima Sakhi Yojana empowers women | Fusion - WeRIndia

In a move to enhance women’s financial empowerment, Prime Minister Narendra Modi launched the LIC Bima Sakhi Yojana on December 9, 2024.

This innovative scheme aims to promote financial literacy and enable women across the country to become volunteer insurance agents.

Thus, the initiative equips them with essential skills for career growth.

During the launch, prospective participants were awarded appointment certificates, marking the initiative’s formal commencement.

The Bima Sakhi Yojana is a three-year program designed exclusively for women aged 18 to 70 years.

It provides stipends and specialized training, ensuring participants are well-prepared for roles in the insurance sector.

Post-training, women can join LIC as agents and may progress to Development Officer positions.

LIC, in a statement on X, described the scheme as a step toward building a prosperous India. The company anticipated that the scheme would support women in achieving financial independence.

To participate, applicants must meet the following requirements:

• They should be between 18 and 70 years as of the application date.
• The minimum qualification to apply for this scheme is Class 10.
• Some people are not allowed to apply for the scheme. These include the immediate relatives of LIC employees or agents and retired LIC staff. Also, ex-agents of LIC and current agents are not eligible.

Stipend and Commission Details

Participants will receive stipends over three years, subject to policy retention:

• Year 1: ₹7,000 per month.
• Year 2: ₹6,000 per month.
• Year 3: ₹5,000 per month.
• Additionally, a commission of ₹48,000 is offered on first-year policies sold, excluding bonuses.

Interested candidates must submit an application form along with self-attested copies of the following documents:

• Proof of age.
• Address proof.
• Educational certificates.

The LIC Bima Sakhi Yojana is a transformative initiative aimed at fostering financial inclusion and creating career opportunities for women.

With structured training and growth prospects, the program stands as a milestone in empowering women and driving economic progress.

Image Credit: Rajasekhar1961, CC0, via Wikimedia Commons

Image Reference: https://commons.wikimedia.org/wiki/File:LIC_M.G.Bus_Station_metro_station_03.jpg