Bima Sakhi Scheme

Bima Sakhi Scheme : Recently, the Life Insurance Corporation of India (LIC) signed a Memorandum of Understanding (MoU) with the Department of Rural Development under the Union Ministry of Rural Development to scale up the Bima Sakhi Yojana across rural areas.

• About Bima Sakhi Yojana : Launched by the Life Insurance Corporation of India (LIC) to promote financial inclusion and women's empowerment .

o The scheme targets women aged 18 to 70 years who have completed at least Class 10 education.

o Selected candidates receive specialised training and a monthly stipend over three years to promote financial literacy and insurance awareness.

o Stipend Structure: ₹7,000 per month in the first year

- ₹6,000 per month in the second year

- ₹5,000 per month in the third year

• Additional Income: Bima Sakhis are also eligible for commissions, with up to ₹48,000 (excluding bonuses) in the first year.

o The scheme aims to appoint two lakh Bima Sakhis over a span of three years.

o After completing training, Bima Sakhis can work as LIC agents, and those with graduation qualifications may also be considered for roles as development officers in LIC.

• Relatives of existing LIC agents or employees, as well as retired LIC employees, are not eligible to apply under this scheme.