New Delhi: Prime Minister Narendra Modi on December 6, 2024 (Monday) launched LIC’s 𝐁𝐢𝐦𝐚 𝐒𝐚𝐤𝐡𝐢 𝐘𝐨𝐣𝐚𝐧𝐚 (MCA Scheme). The new initiative of the Life Insurance Corporation of India aimed at empowering women aged 18 to 70 years, who are Class X pass. The eligible candidates will receive specialised training and a stipend for the first 3 years to promote financial literacy and insurance awareness.
The 𝐁𝐢𝐦𝐚 𝐒𝐚𝐤𝐡𝐢 𝐘𝐨𝐣𝐚𝐧𝐚 will allow the eligible women to become LIC insurance agents. The scheme was launched with an objective to empower rural women with job opportunities and financial assistance.
Bima Sakhi Yojana: Eligibility Criteria and Stipend Details
The scheme details mention that the ‘Bima Sakhis’ will receive a stipend of Rs 7,000 per month. This amount will get reduced in the second year, and the candidates will get Rs 6,000 per month. In the third year, the women will get Rs 5,000 per month. However, the LIC yojana mentions an extra incentive of Rs 2,100 and also commission-based rewards for those who
meet targets.
Second year: Rs.6,000/- (subject to at least 65% of Policies completed in the First stipendiary year are in-force as at the end of the corresponding month of the second stipendiary year)
Third year: Rs 5,000/- (subject to at least 65% of Policies completed in the Second stipendiary year are in-force as at the end of the corresponding month of the third stipendiary year )
It may be noted that the women appointed under LIC’s Bima Sakhi yojana will not be considered as salaried employees of the insurance behemoth, which means they will not be appointed as regular employees of the corporation and will not be eligible for salary.
LIC’s official website – https://licindia.in/test2 – mentions that Bima Sakhis will be mandated to sell 24 policies in the first year. If one is able to sell 24 policies, the agent will be entitled to get Rs 48,000 as commission.
The relatives of existing agents or employees will not be eligible to be recruited as Bima Sakhis. Spouse, children including adopted and step children (whether dependent or not), parents, brothers, sisters and immediate In-laws will be considered as relatives.
Prime Minister Narendra Modi launched LIC’s Bima Sakhi Yojana, a scheme empowering women (18-70, Class X pass) to become LIC insurance agents. Participants will be entitled receive a stipend of Rs 7,000 in the first year and commissions for meeting sales targets (24 policies in the first year). Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
