LIC signs MoU with Rural Development Ministry to promote Bima Sakhi Yojana

• 25 Jul 2025
• 539 Views

The Life Insurance Corporation of India (LIC) and the Ministry of Rural Development have signed a Memorandum of Understanding (MoU) to promote Bima Sakhi Yojana in rural areas. This MoU was signed in the course of the National Conclave on Financial Inclusion, "Anubhuti," organized in Panaji in Goa from 8 to 10 July 2025.

For those who are wondering, Bima Sakhi Yojana is a scheme, officially launched on 9 December 2024, to offer rural women a career in insurance distribution through a performance-based stipendiary LIC agency program. 

The scheme essentially promotes financial inclusion in rural areas and empowers women across India. As per the collaboration, trained women from Self Help Groups (SHGs) across the country will be appointed at the Gram Panchayat level as ‘Bima Sakhis’ as part of the Yojana.

This move aligns with PM Shri Narendra Modi’s “Insurance for All by 2047” vision and the “Self-reliant India (Atmanirbhar Bharat)” goal. The aim of Bima Sakhi scheme isn’t only to make women financially independent but also to make sure the social security schemes are delivered effectively across rural communities.

Bima Sakhis, particularly in rural and semi-urban areas, will act as insurance agents, providing affordable insurance solutions to millions of households. They will be provided with a facility to receive monthly stipends for Rs. 7,000 in first, Rs. 6,000 in second and Rs. 5,000 in the third agency year under the scheme, subject to certain terms and conditions.

By taking advantage of their local knowledge and social connections, they will raise awareness about the importance of insurance, LIC products and financial security within their communities. 

Key Benefits of Bima Sakhi Yojana

Here are some key benefits of the scheme:

• It promotes economic empowerment of women by making Bima Sakhis self reliant via entrepreneurship.

• The scheme boosts job creation and increases participation of women in the rural workforce. 

• It offers community-based, reliable and affordable insurance services for individuals.

Bima Sakhi scheme envisages to bring women from rural and semi urban backgrounds into the formal financial ecosystem. By working as LIC insurance agents, these women will not only attain financial independence but also play a key role in spreading insurance awareness in various communities in India. 

In the future, efforts will focus on expanding this initiative into a national movement through support from the state governments, coordination with skill development programs and active participation from communities.

Sources: 

• Press Information Bureau (PIB)

• MSN News