Bima Sakhi Scheme launched on 9 December 2024, aims to empower women through professional opportunities in life insurance sector. It seeks to advance financial inclusion and women-led development, particularly in rural & underserved areas. With 2,05,896 Bima Sakhis currently engaged across India, the scheme has seen robust response .
Bima Sakhi Scheme Features
- Launched on: 9 December 2024
- Implemented by: Life Insurance Corporation of India (LIC)
- Objective: Empower women through professional opportunities in the life insurance sector and promote financial inclusion & women-led development.
- Current Status (August 2025)
- Total Bima Sakhis enrolled: 2,05,896
- FY 2024–25 stipend disbursed: ₹62.36 crore
- FY 2025–26 budget: ₹520 crore (₹115.13 crore already disbursed)
Role & Reach
- Bima Sakhis act as life insurance agents, especially targeting rural & underserved areas.
- They spread awareness, enhance accessibility, and extend LIC services to the grassroots level.
Career Advancement
- Performance-based incentives provided for consistent growth.
- Graduate Bima Sakhis (after 5 years’ service) can apply for recruitment as Apprentice Development Officers (ADOs), subject to eligibility — offering career progression within LIC.
Stipend Support for New Agents
- First 3 years stipend in addition to commission earnings:
- 1st Year: ₹7,000/month
- 2nd Year: ₹6,000/month
- 3rd Year: ₹5,000/month
- Stipend linked to performance milestones to ensure a financially secure start.
Significance
- Economic Empowerment of Women – Creates sustainable income opportunities.
- Financial Inclusion – Expands insurance penetration in rural India.
- Long-term Career Path – Pathway to secure jobs like ADO in LIC.
- Rural Development Impact – Improves awareness about financial products.
About LIC
- Established: 1 September 1956 (via Life Insurance of India Act, 1956).
- Headquarters: Mumbai, Maharashtra.
- Ownership: Government of India (majority stake).
- Chairperson (2025): Siddhartha Mohanty.
- Global Standing: One of the largest insurance companies in the world by policy volume.
- IPO: Launched May 2022 – India’s largest-ever IPO.
Key Facts
About Apprentice Development Officer (ADO)
- A supervisory role in LIC responsible for recruiting, training, and managing insurance agents.
- Requires both sales and managerial skills.
Related Government Initiative
- NaMo Drone Didi Scheme: Similar women-led empowerment in agriculture through drone services.
- Lakhpati Didi Initiative: Skill development & entrepreneurship for women under DAY-NRLM.