LIC Bima Sakhi Scheme: 10th Pass Women Can Earn Up to Rs 7,000 Per Month

LIC Bima Sakhi Yojana: Prime Minister Narendra Modi launched LIC ‘s ‘Bima Sakhi Yojana’. The objective of this scheme was to promote women empowerment and financial inclusion. Women joining this scheme are given a stipend for three years. Women who have passed 10th standard can easily join this scheme. With a three-year stipend, Bima Sakhi works as a normal LIC agent and earns commission and other benefits as per LIC rules. Let us know everything about this scheme.

Who can apply for LIC Bima Sakhi?

Women applying for LIC’s Bima Sakhi scheme must be at least 18 years old and 70 years old (as of their last birthday). A minimum 10th-grade pass is required as an educational qualification. Candidates must pass a pre-recruitment exam set by the Indian Council of Medical Research (ICAR ) before being selected . A woman can be selected as a Women Career Agent (MCA) only if she is eligible under the LIC Agent Regulations 2017, is a permanent resident of India, and has sufficient time to devote to the Corporation’s role as an agent. However, employees of the Central/State Government, Public Sector Undertakings (PSUs), current LIC agents, former agents, employees, or their close relatives are not eligible for the scheme.

After passing the pre-recruitment exam, candidates must submit the required documents. An interview will then be conducted at an LIC branch office by the branch head or an authorized official. Upon selection, they are assigned an agency code according to LIC regulations.

What are the rules regarding stipend and income?

Bima Sakhi is given a monthly stipend along with commission on selling the policy.

First year: Rs 7,000 per month

Second year: Rs 6,000 per month (at least 65% of the policies of the first year should be in force)

Third year: Rs 5,000 per month (at least 65% of the policies of the second year should be in force)

What will happen after the stipend for 3 years?

After completing the 3-year stipend period, the Bima Sakhi can continue working as a general agent. After completing 5 years of agency service, if the Bima Sakhi is a graduate, she can participate in the recruitment process for the position of Apprentice Development Officer (ADO) at LIC.

What is the commission fixed for LIC Bima Sakhi?

Under the first-year commission structure, payments are tied to the number of policies generated each month. For the first four months, a monthly commission of Rs 2,000 is earned per life per month. For the next four months, this increases to Rs 4,000 per month for two lives (policies) per month. For the last four months of the year, a monthly commission of Rs 6,000 is earned per three lives per month. Over the entire 12-month period, the total is 24 lives and a first-year commission of Rs 48,000, excluding any bonus commissions.

Existing agents cannot apply

Existing agents or ex-agents (who can be reinstated) or employees or ex-employees or relatives of medical examiners or ex-medical examiners will not be eligible for recruitment as Bima Sakhi.