Life Insurance Corporation of India (LIC) on Monday said that it expects minimum of 5 times of business as measured in terms of stipend paid to a ‘Bima Sakhi’.  This scheme aims to empower woman through training as insurance agents.

“The scheme will address not just the issue of unemployment but also of underemployment,” Siddhartha Mohanty, Chairman of LIC, said here while talking to media after Prime Minister Narendra Modi launched ‘Bima Sakhi.’ The corporation expects to deploy at enroll at least 1 lakh women under the scheme by December 2025 while overall target is 2 lakhs over three years.

He informed that ₹840 crore has been provided for the scheme in the first year of the scheme. “We expect 5-7 times of business with the help pf this scheme,” he said. Each of the Women Sakhi will be given a target of selling at least two policies every month which means 24 policies in a year. This will add income to ‘Bima Sakhi’.

“A Bima Sakhi, post completion of 3 years training, will be eligible for the post of Development officer, provided she clears an examination and also has graduate degree,” Mohanty said.  Further, each of the Panhchayat will have at least one Bima Sakhi.