LIC's Bima Sakhi Yojana records over 50,000 registrations within one month of launch

Bima Sakhi Yojana of LIC has seen over 50,000 registrations within a month of its launch by Prime Minister Narendra Modi as an initiative towards Viksit Bharat through women empowerment.

After completion of one month since the inauguration, the total registration for Bima Sakhi is 52,511 of which 27,695 Bima Sakhis have been issued appointment letters to sell policies and 14,583 Bima Sakhis have started selling policies, LIC said in a statement on Wednesday.

Speaking about the development LIC Managing Director and Chief Executive Officer Siddhartha Mohanty said, "It is our objective to cover each panchayat of the country with at least one Bima Sakhi within one year."

LIC is strengthening the Bima Sakhi stream by grooming women with appropriate skills and empowering them with robust digital tools, he said, adding that the scheme includes an advantage of a monthly stipend for three years in addition to the commission earned on business procured.

As per the scheme, each Bima Sakhi will be provided a monthly stipend of Rs 7,000 in the first year, Rs 6,000 per month in the second year, and Rs 5,000 per month in the third year.

This stipend serves as a basic support allowance. Additionally, women agents can earn commissions based on the insurance policies they secure, with their earnings increasing in proportion to the business they bring in.

LIC aims to recruit 2 lakh Bima Sakhis over the next three years. Women aged between 18 and 70 years who have completed their 10th-grade education are eligible to apply.