What: Prime Minister has launched the Bima Sakhi Yojana of the Life Insurance Corporation from Panipat, Haryana.

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About ‘Bima Sakhi Yojana’

Objective: To empower women aged 18-70 years, who are Class X pass.

They will receive specialized training and a stipend for the first three years to promote financial literacy and insurance awareness.

After training, they can serve as LIC agents and the graduate Bima Sakhis will have the opportunity to qualify for being considered for Development Officer roles in LIC.

Eligibility:

Women with a minimum age of 18 years and a maximum age of 70 will be eligible for the scheme.

They also need to have minimum qualification of class 10.

Not Eligible:

Relatives of existing agents and employees

Retired employees are also ineligible.

Stipend/Commission: Women will receive a commission of Rs 48,000 (excluding bonus) for the first year.  Candidates will also get a monthly stipend of Rs 7,000, which will become Rs 6,000 from the second year, subject to certain conditions under which at least 65% of the policies completed in the first stipendiary year are still in force as at the end of the corresponding month of the second stipendiary year.  It will come down to Rs 5,000, with subject to similar conditions as in the second year.