Govt to Appoint 2 Lakh ‘Bima Sakhis’ to Empower Women, Says Finance Minister Nirmala Sitharaman

Panipat: In a bid to empower women and bridge the gap in insurance coverage in rural and semi-urban areas, the government announced plans to appoint 2 lakh Bima Sakhis (insurance agents) over the next three years. Union Finance Minister Nirmala Sitharaman shared this initiative at an event in Panipat, Haryana, where she outlined the government’s commitment to increasing women’s participation in various sectors.

The Bima Sakhi Yojana, launched by the Life Insurance Corporation of India (LIC), will begin by appointing 25,000 women insurance agents this year. These women, aged between 18 and 70, and who have completed at least Class 10, will receive a monthly stipend as they undergo training to become licensed LIC agents. In the first year, each Bima Sakhi will receive ₹7,000 per month, which will be gradually reduced to ₹5,000 in the third year.

The program aims to empower women by providing them with economic opportunities and a path to career advancement. Graduates of the Bima Sakhi program may also qualify for higher roles within LIC, such as development officer positions.

Sitharaman highlighted the government’s broader efforts under Prime Minister Narendra Modi’s leadership to empower women across various sectors. She pointed out that the Central government has earmarked ₹3.3 lakh crore in the current Budget for women-related schemes. Additionally, she shared that 55% of the 54 crore Jan Dhan accounts in India are held by women, and 70% of the 50 crore Mudra loans disbursed have been given to women.

Reflecting on the success of women-centric initiatives, Sitharaman revealed that the government has set a target to create 3 crore ‘Lakhpati Didis’ (women earning ₹1 lakh or more). So far, more than 1.15 crore women have achieved this status.

She also praised Haryana for its progress in implementing such schemes, noting that from 2017 to 2023, the number of women agents had grown significantly, though there remains a disparity in the number of female LIC agents. Of the total 7.45 lakh LIC agents, only 28% are women, which underscores the need for initiatives like the Bima Sakhi Yojana.

“With the launch of this scheme, 25,000 women will be appointed as Bima Sakhis this year, marking a significant step in women’s empowerment,” Sitharaman said, emphasizing the scheme’s potential to provide women with the tools to become leaders in the insurance sector and beyond.