LIC Bima Sakhi Scheme: A Pathway to Income, Independence, and Empowerment for Women

Significant step toward strengthening women’s financial independence, the Life Insurance Corporation of India has introduced the Bima Sakhi (MCA) Scheme. This stipend-based initiative is designed to create sustainable livelihood opportunities for women by enabling them to work in the insurance sector while earning a steady monthly income for up to three years.

A Unique Self-Employment Opportunity:

This scheme, selected women are not treated as regular employees of LIC. Instead, they work as independent agents, allowing them to build a self-driven source of income. The initiative focuses on promoting self-employment while enhancing financial literacy and outreach in both rural and semi-urban areas.

Eligibility Criteria:

• Minimum age: 18 years 
• Maximum age: 70 years (as on last birthday) 
• Educational qualification: At least 10th pass 

Performance-Based Targets:

• Participants are expected to meet specific performance benchmarks each year, including:
• Securing a minimum of 24 insurance policies annually 
• Earning at least ₹48,000 in first-year commission (excluding bonus commission) 

Stipend Structure:

The scheme offers a structured monthly stipend for three years, subject to certain conditions:

First Year: ₹7,000 per month 
Second Year: ₹6,000 per month 
Condition: At least 65% of policies issued in the first year must remain active 
Third Year: ₹5,000 per month 
Condition: At least 65% of policies issued in the second year must remain active 

Important Eligibility Restrictions:

• Close relatives of existing LIC employees or agents are not eligible 
• This includes spouse, children (biological, adopted, or step), parents, siblings, and in-laws 
• Retired LIC employees or former agents seeking reappointment are not eligible 
• Current LIC agents cannot apply under this scheme 

Documents Required for Application:

• Applicants need to submit the following documents:
• Recent passport-size photograph 
• Self-attested age proof 
• Self-attested address proof 
• Self-attested educational qualification certificate 

A Step toward Women’s Empowerment:

The Bima Sakhi Scheme stands out as a strong initiative aimed at empowering women economically. It not only provides a reliable income stream but also encourages participation in financial services. Women, especially in rural and semi-urban regions, can benefit greatly by becoming financially independent while contributing to greater financial awareness in their communities.

How to Apply: Interested candidates can apply online by filling out the application form at: https://shorturl.at/5Wksd. Applicants need to enter their basic details, upload the required documents, and submit the form to complete the process.

FAQs:

Q1. What is the Bima Sakhi (MCA) Scheme?
It is a LIC initiative that provides stipend-based income opportunities to women as insurance agents.

Q2. Who can apply for this scheme?
Women aged 18 to 70 years with at least 10th pass qualification can apply.

Q3. Are LIC employees eligible to apply?
No, close relatives and existing or retired LIC agents are not eligible.

Q4. How much stipend is given under this scheme?
₹7,000 in the first year, ₹6,000 in the second year, and ₹5,000 in the third year.

Q5. What is the main objective of this scheme?
To promote women’s financial independence and self-employment in the insurance sector.