Nirmala Sitharaman Announces Plan to Recruit 2 Lakh Women as LIC Agents in 3 Years

The Bima Sakhi scheme will help increase the number of women in Life Insurance Corporation’s agent force, said finance minister Nirmala Sitharaman on Monday. Out of every 100 agents, the state-run insurer currently has 28 women.

The FM, however, said that LIC has come a long way from 2017, when there were six lakh women agents, which increased to a little under 7.5 lakh in 2023.

“The Bima Sakhi Programme, which the PM launched today (Monday), is also referred to as a women career agent programme. Under this initiative, 25,000 women will be appointed as Bima Sakhis,” she said in Panipat.

Govt has set a target to recruit two lakh Bima Sakhis over the next three years.

Women in the 18-70 age group, who have completed Class X, are eligible to apply with each recruited agent eligible for a monthly stipend of Rs 7,000 in the first year, Rs 6,000 a month in second, and Rs 5,000 a month in the third. Those who are graduates will also be eligible to be considered as development officers.

“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,” she said.