LIC Ties Up with Govt to Empower Rural Women via Bima Sakhi Yojana

Life Insurance Corporation of India (LIC) has announced the signing of a Memorandum of Understanding (MoU) with the Ministry of Rural Development to promote its Bima Sakhi Yojana across rural India.

The MoU was formalised during the National Conclave on Financial Inclusion, ‘Anubhuti’, held from July 8 to 10 in Goa.

Empowering Women Through Insurance Careers

The Bima Sakhi Yojana is a unique, women-centric initiative aimed at helping women build sustainable careers in the insurance distribution sector. Designed as a performance-oriented stipendiary LIC agency career, the scheme provides all benefits and privileges offered to regular LIC agents. The initiative is intended to foster financial independence for women while strengthening the insurance industry’s workforce.

Financial Support and Incentives

To encourage participation, Bima Sakhi agents receive a monthly stipend of ₹7,000 in the first year, ₹6,000 in the second, and ₹5,000 in the third agency year, subject to specific terms and conditions. This support aims to help women establish themselves during the critical early years of their agency careers.

Alignment with Rural Development Goals

The program’s deliverables align with the Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM), which focuses on enhancing the income and livelihoods of rural households. The partnership will leverage Bima Sakhi Yojana to improve financial inclusion and provide additional income-generating opportunities for women in rural areas.

Also Read: Bima Sakhi Scheme Enrolls Over 2 Lakh Women: How to Apply?

LIC Share Price Performance

On July 22, 2025, LIC share price (NSE: LICI) opened at ₹929.10, up from its previous close of ₹928.15. At 11:11 AM, the share price of LIC was trading at ₹926.65, down by 0.16% on the NSE.

Conclusion

By joining forces with the Ministry of Rural Development, LIC is set to boost the reach of its Bima Sakhi Yojana, empowering women in rural regions and supporting households in achieving greater financial stability and independence.

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