Bima Sakhi Yojana

Scheme Introduction: A Brief Overview

• On December 9, 2024, Prime Minister Narendra Modi launched a new women oriented scheme called "Bima Sakhi Yojana".
• The main aim to launch the scheme is to empower women which will benefit millions of women across India.
• Under the Bima Sakhi Yojana, the eligible women beneficiaries can become an insurance agent with the Life Insurance Corporation.
• As an insurance agent these women need to sell insurance policies and in return they will earn commission from the insurance company.
• Announced scheme is also known by other names such as "PM Bima Sakhi Yojana" or Pradhan Mantri Bima Sakhi Scheme" or "Bima Sakhi Scheme" or "LIC Bima Sakhi Yojana" or "LIC Mahila Career Agents (MCA) Scheme".
• Bima Sakhi Yojana is specifically for women aged between 18 to 70 years.
• The minimum education qualification required to become a Mahila Career Agent is 10th standard.
• Government aims to train 2 lakh women as Bima Sakhi in the next three years.
• Women selected under the scheme will receive specialized training for three years and a stipend for three years.
• In the first year, women agents will receive Rs. 48,000/- as a commission excluding bonus for 24 insurance policies.
• Graduates women under the scheme are eligible for the Development Officers role in LIC.
• Women need to achieve specific targets given to them on a monthly or yearly basis.
• Besides commission, women applicants will also receive monthly stipends for the first three years.
• In the first year, the beneficiary will receive a monthly stipend of Rs 7,000/-, Rs 6,000/- in the second year, and Rs 5,000/- in the third year.
• The stipend to be provided in the second year is subject to at least 65% of the policies completed in the first year should remain in force at the end of the second year.
• Similarly, the same thing is applicable for the third year stipendiary benefits, where the second year policies will be accountable.
• Salaried or women who are receiving regular income from other sources will not be considered eligible for the scheme.
• Bima Sakhi Yojana's primary objective is to empower women by helping them become self-sufficient.
• With the help of this, these women can contribute financially for their overall family economic growth.
• Eligible women can submit Bima Sakhi Yojana Applications Online from LIC India website or by visiting the nearest LIC branch.
• For more insights about Bima Sakhi Yojana, beneficiaries can visit the nearest LIC Branch.

Scheme Benefits

• Bima Sakhi Yojana aims to empower women beneficiaries where they will receive the following benefits : -

  Offering opportunities to become insurance agents in LIC India. For each insurance policy sold, women will receive a fixed commission. Monthly Stipend will be provided to each women in the following manner : - In 1st Year - Rs 7,000/- per month. In 2nd Year - Rs 6,000/- per month (subject to at least 65% policies sold in the first year must be active). In 3rd Year - Rs 5,000/- per month. (subject to at least 65% policies sold in the second year remain active). During these years, women will receive specialized training. Women who are graduates and selected as Bima Sakhi can be promoted to Development Officer.

Eligibility Requirements

• Bima Sakhi Yojana is designed for the women's who meet the following eligibility criteria outlined in the scheme notification. If anyone fails to fulfill any of them will not be considered eligible.
  • Applicants must be women and domiciled residents of India.
  • Applicant must have passed minimum 10 standard.
  • Preference will be given to Widows, legally divorced, disabled women and others.
  • The age of the applicants should be 18 to 70 years.

Ineligibility Requirements

• If women fall under any of the below mentioned category then she will not be considered eligible for the scheme : -

  Salaried or regular income women. Income Tax Payer. Existing employee or agent relatives such as : Spouse. Children. Parents. Brothers. Sister. Immediate in-laws. Retired employee of the corporation or Ex agent. Existing agent.

Required Documents

• In order to support their eligibility, applicants must furnish some of their documents; whose details are as follows : -
  • Age proof Copy (Self Attested)
  • Aadhaar Card.
  • Passport Size photograph.
  • Address Proof (Self Attested)
  • Domicile Certificate.
  • Disability Certificate (if any).
  • Ration Card.
  • Bank Account Passbook.
  • Income Certificate.
  • Age Proof.
  • Academic Certificates. (Self Attested)

Steps to Apply

• Applicants who meet the eligibility conditions can apply for the LIC Bima Sakhi Yojana.
• Bima Sakhi Yojana application form are available at LIC India Website.
• User need to tap on the Apply Now Tab available on the home page.
  
• A dedicated page of Bima Sakhi Yojana appears with some information.
• Read the details and press the 'Click here for Bima Sakhi' button.
• Next, Bima Sakhi Scheme application form appears.
• Fill the application form and submit it.
• Applicants need to provide their personal and other details in the form correctly.
• The concerned department will verify the submitted applications.
• Applicants who pass the verification stage successfully need to proceed to the next step.

Relevant Links

• Bima Sakhi Yojana Application Form.
• Bima Sakhi Yojana Official Guidelines.

Contact Information

• LIC India Helpline Number : - 91-022 6827 6827
• LIC India Contact Details.