Bima Sakhi Yojana

News: Yesterday, Prime Minister launched the Bima Sakhi Yojana of Life Insurance Corporation (LIC).

About Bima Sakhi Yojana

• It is an initiative of LIC to appoint over two lakh woman insurance agents over the next three years.
• The aim is to empower women aged 18-70 years who are Class X pass.
• To promote financial literacy and institutional awareness, women agents will be provided with specialised training and a stipend for the first three years.
• Stipend Amount: The woman agents will get a stipend of Rs. 7000 per month for the first year, Rs. 6000 per month in the second year and Rs. 5000 per month in the third year.
• Bima Sakhis will also receive the benefit of commission.

About LIC  It came into existence in September 1956 after the Life Insurance of India Act was passed by the Parliament. This Act also nationalised the private insurance sector in the country.  Its mission is to ensure financial security by providing products and services with competitive returns and by rendering resources for economic development.  It is India’s largest government owned life insurance and investment corporation, investing the mobilised fund in global financial markets and different government securities.  Key objectives of LIC  Spread insurance across the country, particularly to rural areas and vulnerable section of society.  Making insurance linked savings attractive  Act as trustees of insured public  Meeting the various life insurance needs of the community  It is headquartered in Bombay, Maharashtra.