LIC Bima Sakhi Yojana

The Bima Sakhi Yojana, launched by the Life Insurance Corporation of India (LIC), is a transformative initiative aimed at empowering women aged 18 to 70 who have completed their 10th grade. This scheme is designed to enhance financial literacy among women and provide them with the opportunity to work as insurance agents after receiving specialized training over a three-year period.

Objectives

The primary goals of the Bima Sakhi Yojana are:

Empowerment: To empower women by providing them with skills in the insurance sector, enabling them to earn a livelihood.
Financial Literacy: To increase awareness about insurance and financial products among women in their communities.
Job Creation: To create job opportunities for women, especially in rural and underserved areas.

Key Features

Eligibility Criteria:
- Only women aged between 18 and 70 years can apply.
- Applicants must have passed at least the 10th standard.
Training Program:
- Participants will undergo a three-year training program that focuses on enhancing their understanding of insurance products and sales techniques.
Stipend Structure:
- During the training period, participants will receive a monthly stipend:
  - First Year: ₹7,000
  - Second Year: ₹6,000 (conditional on maintaining at least 65% of policies sold in the first year)
  - Third Year: ₹5,000 (conditional on maintaining at least 65% of policies sold in the second year)
- Over three years, participants can earn more than ₹2 lakh, excluding additional commissions from policy sales.
Performance Norms:
- Each participant is required to sell a minimum of 24 policies in the first year to qualify for the stipulated stipend.
- The scheme emphasizes not only selling policies but also ensuring that they remain active, promoting better service and client retention.

Application Process

To apply for the Bima Sakhi Yojana, interested candidates should follow these steps:

Visit the official LIC website at licindia.in.
Locate the section for Bima Sakhi and fill out the online application form with required personal details such as name, date of birth, mobile number, email ID, and address.
Provide information regarding any connections to current LIC agents or employees if applicable.
Submit the application along with necessary documents, including:
- Self-attested copy of age proof
- Self-attested copy of address proof
- Self-attested copy of educational qualification certificate
- A recent passport-size photograph

Benefits

Financial Independence: The stipend provides a steady income while participants build their careers in insurance.
Flexible Work Environment: As this is not a salaried position, women can manage their work schedules according to their personal commitments.
Skill Development: Participants gain valuable experience in sales and customer service, equipping them for future career opportunities.
Community Impact: By promoting insurance awareness in their local areas, Bima Sakhis contribute to increasing financial security among women.

Conclusion

The Bima Sakhi Yojana is a significant step towards empowering women in India by providing them with essential training and opportunities in the insurance sector. By fostering financial literacy and creating job opportunities, this initiative aims to uplift women economically while enhancing access to insurance services across the country. Through this program, LIC not only supports women’s empowerment but also contributes to broader goals of financial inclusion and community development.