The LIC Bima Sakhi Scheme is a unique initiative introduced by the Life Insurance Corporation of India (LIC) to empower women by offering them a chance to earn through flexible working opportunities. Women aged 18 to 70 years can participate in this program and work as a “Bima Sakhi” (Female Career Agent). Here’s everything you need to know about this scheme, from its benefits to the application process and working hours.
What is the LIC Bima Sakhi Scheme?
The LIC Bima Sakhi Scheme is designed to financially empower women by allowing them to work as insurance agents. It provides a flexible, part-time earning opportunity while offering monthly stipends and commission-based incentives. This program runs for three years and is not a traditional job but a chance to become an agent of LIC.
Key Benefits of the LIC Bima Sakhi Scheme
- Monthly Stipend: Women receive a fixed stipend for the first three years:
- ₹7,000 per month in the first year.
- ₹6,000 per month in the second year.
- ₹5,000 per month in the third year.
- Commission-Based Earnings: In addition to the stipend, agents earn commissions on policies they secure.
- Flexible Working Hours: Participants can decide their working hours, making it an ideal option for women looking to balance other responsibilities.
- Empowerment Opportunity: The scheme provides a platform for women to become financially independent without needing prior experience.
Eligibility Criteria for LIC Bima Sakhi Scheme
- Age Requirement: Applicants must be between 18 and 70 years old.
- Educational Qualification: A minimum of 10th-grade pass is mandatory.
- Family Restrictions: Women who already have a family member (spouse, children, parents, siblings, or in-laws) working with LIC or retired from LIC are not eligible.
Stipend and Target Criteria
To receive the monthly stipend, participants must meet specific targets each year:
- First Year: Secure policies for 24 people and earn a minimum commission of ₹48,000 (excluding bonus commission).
- Second Year: Ensure at least 65% of the policies made in the first year remain active to qualify for a ₹6,000 stipend per month.
- Third Year: Similarly, at least 65% of the second-year policies must remain active to earn a ₹5,000 monthly stipend.
Required Documents for Application
Applicants need to submit the following documents:
- Two recent passport-sized photographs.
- Self-attested copies of the following:
- Age proof (Aadhar card, voter ID, etc.).
- Address proof (Aadhar card, passport, utility bills, etc.).
- Educational qualification certificate.
- PAN card.
- Bank account details for stipend payments.
How to Apply for LIC Bima Sakhi Scheme
The application process is straightforward and entirely online:
- Visit the Official LIC Website: Go to LIC Agency Portal.
- Fill Out the Online Form: Enter details such as name, mobile number, date of birth, address, and email ID.
- Provide Additional Information: If you are already associated with LIC as an employee, agent, or development officer, include this in the form.
- Submit Application Fee: Pay ₹650, which includes ₹150 for LIC and ₹500 for the IRDAI examination fee.
- Submit the Form: Complete the form by filling in the captcha code and clicking on submit.
Working Hours and Flexibility
One of the scheme’s key highlights is its flexibility. As a Bima Sakhi, women can set their own working hours. This makes it an excellent option for homemakers, students, or anyone looking for part-time work.
No Experience Needed
No prior experience in the insurance or financial sector is required to join this scheme. This opens up opportunities for women from diverse backgrounds who want to start earning independently.
Application Fee Details
To enroll in the Bima Sakhi Scheme, an application fee of ₹650 is required. This includes:
- ₹150 as LIC fee.
- ₹500 as IRDAI examination fee.
Who Cannot Apply for the LIC Bima Sakhi Scheme?
Certain women are ineligible for this scheme, including:
- Those who already have a family member working or retired from LIC.
- Current LIC agents or employees.
- Women who were LIC agents in the past or are retired from LIC.
Key Points to Remember
- No Permanent Job Role: This scheme does not offer a permanent job; participants work as freelance agents.
- Commission-Based Earnings: The stipend is fixed for three years, but commissions provide additional earning potential.
- Performance Targets: Fulfilling annual targets is necessary to continue receiving the stipend.
By participating in the LIC Bima Sakhi Scheme, women can earn a stable income while enjoying flexible working hours. This initiative not only provides financial independence but also empowers women to explore career opportunities in the insurance sector.
