Context: The Prime Minister of India launched the ‘Bima Sakhi Yojana’ of Life Insurance Corporation, in line with his commitment to women empowerment and financial inclusion.
Relevance of the Topic: Prelims: Key facts about Bima Sakhi Yojana
Key facts about Bima Sakhi Yojana:
- Initiative of: Life Insurance Corporation (LIC)
- Aim: To empower women through financial literacy and insurance awareness.
- Target: Enrol 100,000 Bima Sakhi in 12 months to financially empower women and 200,000 over a period of three years as part of women empowerment drive.
- Beneficiaries: Women in the age group of 18-70 years, who are Class-10 pass.
- Key features: Under the scheme, women will receive specialised training and a stipend for the first three years.
- Women will get a monthly stipend during the training: ₹7,000 in the first year, ₹6,000 in the second year, and ₹5,000 in the third year.
- Following the completion of the training, women can serve as LIC agents and the graduate Bima Sakhis would have the opportunity to qualify for development officer roles in LIC.
- Each Bima Sakhi will have a target of insuring 2 individuals every month or 24 individuals in a year to earn the commission.
Significance of the scheme:
- Helps to bridge the gap in insurance penetration in rural and semi-urban areas.
- Foster financial independence among women while expanding LIC’s outreach in promoting insurance as a tool for economic security.
The Yojana underscores the government’s commitment to women’s empowerment and aligns with its broader goals of enhancing financial literacy and employment opportunities for women in India.