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In a move to increase the penetration of insurance and offer social security to women, the government has today launched a women centric distribution channel called Bima Sakhi Yojana in Panipat, Haryana.
Under this scheme, the government will appoint at least 2 lakh women agents through LIC India within 3 years.
Women who are in the age group of 18 to 70 and have cleared matriculation can become insurance agents under this scheme.
These women will be entitled to get stipend for 36 months i.e. Rs.7000 per month for 12 months, Rs.6000 per month for the next 12 months and Rs.5000 per month in the third year for 12 months.
The stipend will be over and above commission income, clarified Nirmal Sitharaman, Union Finance Minister, GOI.
The FM said that women can appear for IRDAI examination and training by LIC within 3 years to get the permanent insurance agency license to continue after 36 months.
Prime Minister Narendra Modi said that the scheme aims to achieve the target of ‘insurance for all’ by 2047. He added that it was necessary for social security and to eradicate poverty from its roots. He further emphasised that the Bima Sakhis will strengthen the mission of Insurance for All.
Citing data related to the insurance sector which showed that a LIC agent earns an average of Rs.15,000 every month, Modi said that our Bima Sakhis would earn more than Rs.1.75 lakh every year, which would give additional income to the family.