What is LIC’s Bima Sakhi Yojana?
PM Narendra Modi launches LIC’s Bima Sakhi Yojana – Stipend, Eligibility, Details and How to Apply
What is LIC Bima Sakhi Yojana?
- LIC’s Bima Sakhi (MCA Scheme) is a Stipendiary Scheme, exclusively for Women , with a stipendiary period of 3 years.
- Minimum completed age should be 18 years as on date of application.
- Maximum age at entry will be 70 years ( last birthday)
- Minimum qualification – pass in 10th standard.
Benefits of LIC’s Bima Sakhi Yojana
LIC’s Bima Sakhi (MCA Scheme) is a Stipendiary Scheme for Women, with a stipendiary period of 3 years.
Financial Empowerment of women
The Bima Sakhi Yojana enables women to achieve financial independence by training them to become insurance agents. This role allows them to earn a steady income through commissions and stipends, thereby enhancing their economic status.
Training from LIC
Participants receive comprehensive training over a three-year period, covering LIC’s insurance products, financial literacy tools, and the importance of insurance. This equips them with the necessary skills to educate their communities and promote financial well-being.
Stipend Support for 3 Years
During the training phase, Bima Sakhis receive a monthly stipend, which decreases over the three years based on performance metrics. In the first year, they earn ₹7,000 per month; in the second year, ₹6,000 per month (subject to at least 65% of policies from the first year being in force); and in the third year, ₹5,000 per month (subject to similar conditions).
LIC Bima Sakhi Yojana Details
| Scheme | LIC Bima Sakhi |
| Implementing Authority | Life Insurance Corporation (LIC) |
| Duration | 3 years |
| Benefit | Training to become insurance agents with a stipend for 3 years |
| Beneficiaries | Women aged between 18-70 years |
| Future Opportunities | After 3 years, women can work as LIC insurance agents (Bima Sakhis) and may also be eligible for development officer roles in LIC |
| Working Hours | Flexible working hours |
LIC Bima Sakhi Yojana Eligibility
- Women must be aged between 18 and 70.
- The minimum qualification of a woman must be 10th grade passed.
- Preference will be given to women residing in rural areas.
The following women are ineligible to apply for this scheme:
- Women related to existing agents and employees of LIC. Relatives include spouses, children, adopted and stepchildren, parents, sisters, brothers and immediate in-laws.
- Women should not be retired employees and ex-agents of LIC.
- Women should not be existing agents of LIC.
LIC Bima Sakhi Yojana Stipend structure for 3 Years
Stipendiary Year | Stipend Payable Per Month |
|---|---|
| First Year | Rs.7,000/- |
| Second Year | Rs.6,000/- (subject to at least 65% of Policies completed in the First stipendiary year) |
| Third Year | Rs.5,000/- (subject to at least 65% of Policies completed in the Second stipendiary year) |
LIC Bima Sakhi Yojana documents Checklist
- Address proof
- Age proof
- Self-attested copy of educational certificates
Apply to become LIC Bima Sakhi
LIC's Bima Sakhi Scheme FAQ's
1. What Is LIC’s Bima Sakhi Scheme?
LIC’s Bima Sakhi Scheme is a special career program for women offering a stipend and commission-based income, empowering them with financial independence and professional growth.
2. Who Can Apply for the LIC Bima Sakhi Scheme?
Women aged 18-70 years who have passed the 10th grade can apply. This includes homemakers, students, and career seekers.
3. What Are the Benefits of Becoming a Bima Sakhi?
- Monthly stipend for three years
- Unlimited earning potential through commissions
- Flexible working hours
- Comprehensive training and career suppor
4. How Much Stipend Do LIC's Bima Sakhi Receive?
- 1st Year: ₹7,000/month
- 2nd Year: ₹6,000/month (subject to policy retention)
- 3rd Year: ₹5,000/month (subject to policy retention)
5. Is There Any Minimum Performance Requirement for Bima Sakhi?
Yes, agents must insure at least 24 lives and earn ₹48,000 in first-year commissions annually to maintain the stipend.
6. What Documents Are Required to Apply for Bima Sakhi Scheme?
- PAN and Aadhaar cards
- 10th-grade certificate
- Passport-sized photos
- Proof of highest education
7. How Much Is the Application Fee for LIC’s Bima Sakhi Scheme?
The total fee is ₹650, which includes ₹150 for LIC registration and ₹500 for the IRDAI exam.
8. Can Existing LIC Agents Apply for Bima Sakhi?
No, current LIC agents, their close family members, and retired LIC employees are not eligible for this scheme.
9. How Can I Apply for LIC’s Bima Sakhi Scheme?
Fill out the application form online, attach the required documents, and pay the registration fee. LIC’s Development Officer will guide you through the process.
10. Is Training Provided for LIC Bima Sakhis?
Yes, LIC provides IRDA training and assistance with the IC 38 exam, which is mandatory to become a certified agent.