A social initiative by LIC, Bima Sakhi Yojana aims to empower women (aged 18–70, Class X pass) by training them as volunteer insurance agents or “Sakhis.” It enhances financial literacy, insurance awareness, and self-employment opportunities in rural/semi-urban areas
🧩 Key Features & Objectives
- Training & Stipend: For the first three years, each Bima Sakhi Yojana receives monthly stipends:
- ₹7,000 (Year 1)
- ₹6,000 (Year 2)
- ₹5,000 (Year 3)
Commission: On top of the stipend, agents earn commission—potentially up to ₹48,000 in the first year—based on policy sales and renewals
Target Scale: LIC plans to onboard 200,000 women by around 2026. The first year target is ~100,000 agents Path to Career Growth: Post stipend, high-performing participants become LIC agents. Graduates (with a degree) may even progress to LIC Development Officer roles
✅ Eligibility Criteria
| Criteria | Details |
|---|---|
| Age | 18 to 70 years Reddit+12Mint+12Reddit+12 |
| Education | Minimum Class X pass |
| Residency | Indian citizen; rural women are prioritized |
| Exclusions | Relatives of current LIC agents/employees or retired LIC staff are not eligible |
🌐 How It Works
- Apply via LIC’s official portal or local LIC office with required documents (proof of age, address, education, photo)
- Training Phase: Candidates undergo initial training in insurance products, digital onboarding, KYC, communication skills.
- Implementation Phase: Work as volunteer agents—sell insurance, promote schemes like PMSBY/PMJJBY—and meet targets (e.g., 2 policies/month ≈ 24/year) to qualify for commission
- Post‑stipend Phase: After three years, stipend ends and agents earn solely through commissions. Continued underperformance may lead to deregistration
📈 Expected Impact
- Women’s empowerment: Financial autonomy and respect within communities.
- Rural outreach: Improved insurance penetration in underbanked areas
- Economic boost: LIC estimates ~₹4,000 crore in new business during the first year against a stipends outlay of ₹840 crore
- Social upliftment: Bima Sakhis Yojana help families understand and access essential insurance like PMSBY, PMJJBY
💡 In a Nutshell
The Bima Sakhi Yojana is a bold push toward social and financial inclusion—transforming thousands of rural women into trained insurance agents, providing them with a steady income and potential long-term career opportunities, while also bridging India’s insurance access gap
