LIC’s Bima Sakhi scheme crosses 50K mark within one month

New Delhi: 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 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 on Wednesday. LIC MD and CEO 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. 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.