How Have Over 2 Lakh Women Enrolled in LIC’s Bima Sakhi Scheme?
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Synopsis
Discover how the Bima Sakhi Scheme has empowered over 2 lakh women in India by providing them career opportunities in the insurance sector. This transformative initiative by LIC not only offers stipends but also encourages financial literacy and long-term career growth.
Key Takeaways
- Over 2.05 lakh women have enrolled in the Bima Sakhi Scheme.
- The scheme offers stipends and commissions for women in insurance.
- Stipends start at Rs 7,000 and decrease over three years.
- Women can apply for ADO roles after five years in the program.
- The initiative aims to improve financial literacy among women.
New Delhi, July 21 (NationPress) The Union government announced that over 2.05 lakh women have joined the Bima Sakhi – Mahila Career Agent (MCA) Scheme, which was initiated on December 9, 2024.
This initiative, managed by the Life Insurance Corporation of India (LIC), aims to empower women by providing them with career paths in the insurance industry.
In response to a query in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary provided an update on the scheme’s advancements.
He noted that during the financial year 2024-25, LIC disbursed Rs 62.36 crore in stipends to Bima Sakhis.
“For the ongoing financial year 2025-26, LIC has allocated Rs 520 crore, with Rs 115.13 crore already distributed to beneficiaries as of July 14,” the minister stated.
Through this scheme, LIC offers women not only commissions but also monthly stipends for the initial three years, assisting them in establishing their careers in insurance.
The stipend begins at Rs 7,000 monthly in the first year, reduces to Rs 6,000 in the second year, and further to Rs 5,000 in the third year, contingent on their performance.
Additionally, graduate Bima Sakhis who complete five years in the program can apply for Apprentice Development Officer (ADO) positions in LIC if they meet the necessary eligibility criteria.
The scheme includes various performance-based incentives, facilitating women to develop and establish long-term careers within LIC.
The Bima Sakhi scheme forms part of the government’s broader initiatives to enhance women's participation in the workforce and broaden financial inclusion through insurance.
The Bima Sakhi Yojana is designed to empower women and promote financial literacy and awareness about insurance. It is open to women aged between 18 and 70 who have completed at least the 10th standard.
This program offers selected women specialized training and a monthly stipend for the first three years, aiding them in building a career as LIC agents. The scheme equips women with the knowledge and skills needed to effectively promote life insurance products within their communities.
One of the primary objectives of the Bima Sakhi Scheme is to enhance financial literacy among women, enabling them to raise awareness about insurance within their localities.
High-performing individuals may also qualify to apply for development officer roles within LIC, creating further career possibilities.
However, the scheme excludes close relatives of current LIC agents or employees from being recruited as Bima Sakhis, ensuring a fair and transparent selection process.
Point of View
The Bima Sakhi Scheme represents a crucial step towards enhancing women's participation in the workforce and fostering financial inclusion. By equipping women with the necessary skills and resources to thrive in the insurance sector, the initiative not only supports individual empowerment but also contributes to broader economic growth.
NationPress
21/07/2025
Frequently Asked Questions
What is the Bima Sakhi Scheme?
The Bima Sakhi Scheme is an initiative by LIC designed to empower women by providing them with career opportunities in the insurance sector.
Who can apply for the Bima Sakhi Scheme?
Women aged between 18 and 70 who have completed at least the 10th standard can apply for the Bima Sakhi Scheme.
What benefits do participants receive?
Participants receive a monthly stipend for the first three years, specialized training, and opportunities for performance-based incentives.
Is there any financial support available?
Yes, LIC provides stipends starting at Rs 7,000 per month for the first year, along with commissions based on performance.
Are family members of LIC agents eligible?
No, close relatives of existing LIC agents or employees are excluded from being recruited as Bima Sakhis to ensure fairness.
