Empowering Rural Women: LIC's Bima Sakhi Yojana Partners with Ministry

The Life Insurance Corporation of India (LIC) has collaborated with the Ministry of Rural Development to promote the Bima Sakhi Yojana in rural zones. This initiative aims to empower women through a LIC agency program, ensuring financial independence and enhanced income for rural households.

The Life Insurance Corporation of India (LIC) on Monday announced a partnership with the Ministry of Rural Development, aimed at forwarding the Bima Sakhi Yojana in rural communities. The collaboration was formalized during the National Conclave on Financial Inclusion, titled 'Anubhuti', held from July 8-10 in Goa.

The Bima Sakhi Yojana is targeted at empowering women by providing them with an opportunity to build careers in the insurance distribution sector. Designed by LIC, the program offers women a performance-oriented agency career, with all the associated benefits of a LIC agent role, assuring them financial independence in the long run.

This memorandum of understanding complements the objectives of the Deendayal Antyodaya Yojana - National Rural Livelihood Mission (DAY - NRLM), promising to improve the livelihoods of rural households. Under this scheme, women working as Bima Sakhi agents can earn monthly stipends of Rs 7,000, Rs 6,000, and Rs 5,000 in their first, second, and third agency years, respectively, under specific conditions.