PM Modi launches LIC’s ‘Bima Sakhi Yojana’: Check stipend, commission, and eligibility

Prime Minister Narendra Modi on Monday launched the 'Bima Sakhi Yojana,' a women-centric initiative by the Life Insurance Corporation of India (LIC), aimed at empowering two lakh women by appointing them as insurance agents over the next three years.

The scheme, targeting women aged 18 to 70 who have completed Class 10, offers an opportunity for financial independence while promoting insurance awareness across the country. Prospective agents under the program, referred to as Bima Sakhis, will receive specialised training, a stipend for three years, and commission benefits.

Speaking at the launch in Panipat, Haryana, Modi highlighted the pivotal role of women in India’s development. “To make India developed, we need additional energy from our mothers and sisters, our Nari Shakti. Initiatives like Bima Sakhi, along with women self-help groups and bank sakhi programs, are foundational pillars for a developed India,” he said.

The prime minister also drew parallels with the Beti Bachao, Beti Padhao campaign launched from Panipat a decade ago, which led to improvements in gender equality and female empowerment.

"The importance of this work of Bima Sakhis is not just that they will earn thousands of rupees every month. The contribution of Bima Sakhis is going to be much more than this. 'Insurance for All' is the aim of all of us in our developing country. This is very important for social security and to eradicate poverty from its roots. The role that you are playing today as Bima Sakhi will strengthen the mission of 'Insurance for All'," Modi said.

Speaking about the scheme, LIC MD and CEO Siddharth Mohanty said the insurer will spend up to ₹840 crore towards stipend in the enrolment done.

"Bima Sakhi is expected to garner new business of five times of our spending. So we are hoping that they can bring Rs 4,000 crore new business in the first year," he said.

Mohanty said that Bima Sakhi will help in taking LIC to under-penetrated areas. Going forward, there is a plan of appointing one Bima Sakhi in every Gram Panchayat.

• The scheme aims to enrol two lakh women by 2026, with an immediate target of appointing one lakh in the first year.

• Bima Sakhis will receive a stipend of ₹7,000 in the first year, ₹6,000 in the second, and ₹5,000 in the third, alongside commissions of up to ₹48,000 in the first year (excluding bonuses).

• After training, they can serve as LIC agents and the graduate Bima Sakhis would have the opportunity to qualify for being considered for Development Officer roles in LIC.

• Candidates must be women aged 18-70, Class X pass, and be unrelated to existing LIC agents or employees. Relatives not eligible for the scheme include spouse, children, parents, siblings and in-laws.

• Self-attested copies of proof of age, proof of address, educational qualification certificate, and recent passport-sized photograph must be included with the application.