Core Concept: Bima Sakhi Yojana is an LIC initiative to train and deploy rural women as insurance agents ("Bima Sakhis"), promoting financial literacy, insurance penetration, and women's economic empowerment.
Key Facts & Features
- Launching Body: Life Insurance Corporation of India (LIC).
- Target Group: Women aged 18-70 years, Class X pass, especially in rural areas.
- Nature: Performance-oriented stipendiary scheme (Stipend + Commission).
- Objective: Enhance insurance awareness & penetration in rural India, empower women economically.
- Training: Specialized training in financial literacy and insurance.
- Agent Pathway: Trained Bima Sakhis become LIC agents.
- Career Progression: Graduate Bima Sakhis can qualify for LIC Development Officer roles.
- Scale: Target of 2 lakh (200,000) Bima Sakhis appointed over 3 years.
- Latest Update (Crucial for CA): LIC signed an MoU with the Dept. of Rural Development, Ministry of Rural Development (July 2025) to promote the scheme in rural areas, leveraging government networks.
Benefits & Incentives (Stipend & Commission)
| Period | Monthly Stipend | First Year Commission (Excl. Bonus) |
|---|---|---|
| Year 1 | ₹ 7,000 | ₹ 48,000 |
| Year 2 | ₹ 6,000 | Standard Agent Commissions Apply |
| Year 3 | ₹ 5,000 | Standard Agent Commissions Apply |
- Post Year 3: Stipend stops; earnings based solely on agent commissions.
- Commissions continue beyond the first year based on policies sold.
Eligibility Criteria
- Included:
- Women aged 18 - 70 years.
- Minimum Qualification: Passed Class X (10th grade).
- Residence Preference: Women residing in rural areas.
- Excluded (Ineligible):
- Relatives of existing LIC agents/employees (Spouse, Children, Parents, Siblings, In-laws).
- Retired LIC employees or ex-LIC agents.
- Existing LIC agents.
*### Current Affairs & Updates
- MoU with Rural Development Ministry (July 2025): This is the most significant recent development, enhancing reach and credibility in rural areas. Shows government push for last-mile insurance delivery.
- Aligns with "Insurance for All by 2047" vision set by IRDAI.
- Contributes to SDGs: SDG 1 (No Poverty), SDG 5 (Gender Equality), SDG 8 (Decent Work).