PM Modi is set to launch the Bima Sakhi Yojana from Panipat today. This initiative aims to financially empower 1 lakh women aged 18 to 70 across India. Under the scheme, women with a minimum qualification of 10th pass will be trained as LIC agents. They will receive a stipend of ₹7,000 in the first year, ₹6,000 in the second year, and ₹5,000 in the third year. The program’s primary objective is to promote women’s self-reliance and enhance financial literacy.
What is Bima Sakhi Yojana?
This scheme of Life Insurance Corporation (LIC) is for women aged 18 to 70 years who are 10th pass. They will first be given three years of training. Their financial understanding will be increased and they will be told how to understand the importance of insurance.
Initial Funding of ₹100 Crore for Bima Sakhi Scheme
The government has allocated an initial funding of ₹100 crore for the Bima Sakhi Yojana. This scheme aims to bring financial literacy to women and promote their self-reliance. The core objective is to provide job opportunities and fixed incomes for rural women, where employment options are limited, thereby improving their standard of living.
Special Training for 3 Years
To enhance financial literacy and empower women, special training will be provided for three years under the Bima Sakhi scheme. After the training, 10th-pass women will work as LIC agents. Graduates will also be eligible for roles as LIC development officers. Prime Minister Narendra Modi will distribute appointment certificates to the future Bima Sakhis today.
Eligibility Criteria for Becoming a Bima Sakhi
- Only women can apply for the Bima Sakhi scheme.
- Applicants must have completed at least 10th grade (Matriculation/High School).
- Women aged between 18 and 70 years are eligible to apply.
- After three years of training, women will become LIC agents, though they will not be regular employees of LIC and will not receive employee
- benefits.
- Selected women must meet annual performance targets to ensure the success of the scheme.
Benefits of Becoming a Bima Sakhi
Under the Bima Sakhi scheme, after completing the three-year training program, women will work as LIC agents. However, they will not have the same benefits as regular employees of LIC. Women selected under the scheme will need to fulfil performance norms set by LIC each year to ensure the success and progress of the participants.
How Much Money Will Bima Sakhi Earn?
Women participating in the Bima Sakhi scheme will receive a stipend totalling over ₹2 lahks during the three-year training period:
- First Year: ₹7,000 per month
- Second Year: ₹6,000 per month
- Third Year: ₹5,000 per month
This amount excludes any bonus commission. However, a condition applies: 65% of the policies sold by the participants must remain active (in force) by the end of the subsequent year.
For instance, if a woman sells 100 policies in the first year, at least 65 of these policies must still be effective by the end of the second year. This ensures agents focus not only on selling policies but also on retaining them.
How to Apply for Bima Sakhi?
- Visit the official LIC website at LIC India.
- Click on the “Click here for Bima Sakhi” option at the bottom of the page.
- Fill in your details, including name, date of birth, mobile number, email ID, and address.
- If you are associated with any LIC Agent, Development Officer, Employee, or Medical Examiner, provide their details.
- Enter the captcha code and click the Submit button.