LIC's Bima Sakhi Yojana received over 50,000 registrations within a month of its launch by Prime Minister Narendra Modi as a Viksit Bharat project through women's empowerment.
After one month of operation, the overall number of Bima Sakhi registrations stands at 52,511, with 27,695 Bima Sakhis receiving appointment letters to sell policies and 14,583 Bima Sakhis beginning to sell policies, according to a statement issued by LIC on Wednesday.
Speaking about the development, LIC Managing Director and Chief Executive Officer Siddhartha Mohanty stated, "It is our goal to provide at least one Bima Sakhi to each panchayat in the country within a year."
LIC is boosting the Bima Sakhi stream by equipping women with relevant skills and providing them with robust digital tools, he said, adding that the initiative provides a three-year monthly stipend in addition to the commission earned on business procured.
According to the scheme, each Bima Sakhi will receive a monthly stipend of Rs 7,000 in the first year, Rs 6,000 in the second, and Rs 5,000 in the third year.
This stipend is used as a basic support allowance. Furthermore, women agents can receive commissions depending on the insurance policies they secure, with their earnings increasing proportionally to the volume of business they generate.
LIC plans to hire 2 lakh Bima Sakhis over the next three years. Women aged 18 to 70 years who have finished their 10th grade education are eligible to apply.
