The government plans to appoint 2 lakh Bima Sakhis or insurance agents over the next three years, starting with 25,000 appointments this year, Union Finance Minister Nirmala Sitharaman said at an event in this Haryana city.

To apply, candidates must provide proof of age and address, and educational qualification certificates.

Delivering the address ahead of the launch of the ambitious ‘Bima Sakhi Yojana’ by Prime Minister Narendra Modi from this city in Haryana, Union Minister Sitharaman said the Central government under the leadership of Prime Minister Narendra Modi “is implementing several schemes which are aimed at empowering women”.

The ‘Bima Sakhi Yojana’ initiative by the Life Insurance Corporation of India (LIC) aims to empower women aged 18-70 years, who have completed Class 10. This initiative reflects the government’s commitment to fostering gender equality and empowering women in various sectors.

Each woman insurance agent volunteer will receive a stipend of Rs 7,000 per month in the first year, Rs 6,000 per month in the second year, and Rs 5,000 per month in the third year, FM Sitharaman said.

“Once the training is successfully completed, participants will become LIC agents, helping bridge the gap in insurance penetration in rural and semi-urban areas.”

Additionally, graduates of the Bima Sakhi programme may qualify for development officer roles within LIC, offering them a chance to advance their careers in the insurance sector.

FM Sitharaman said in this year’s Budget, Rs 3.3 lakh crore has been earmarked for women-related schemes in the country.

She said the Prime Minister has always believed that women should not just be participants in the development process, they should become its leaders.

Highlighting the achievements in various women-related schemes, the Finance Minister said out of the 54 crore Jan Dhan accounts opened in the country, 55 per cent belong to women, and out of the 50 crore Mudra loans disbursed in the country, 70 per cent have been given to women.

She said a target has been set to make 3 crore women ‘Lakhpati Didis’ in the country, till now, more than 1.15 crore women have been made ‘Lakhpati Didi’.

FM Sitharaman said Haryana has performed extremely well in the implementation of this scheme.

“From 2017-18 to 2023, the number of women agents has increased significantly. In 2017, there were six lakh women agents, and this number has grown to 7.45 lakh. However, among every 100 LIC agents, only 28 are women, indicating that out of 2,800 agents, only 28 are women. This underscores the importance of the ‘Bima Sakhi Yojana’, which Prime Minister Modi is launching today,” she said.

“I believe this initiative, also known as the Women Career Agent Programme, is a significant step toward women’s empowerment. As part of this programme, 25,000 women will be appointed as ‘Bima Sakhi’ by PM Modi,” the Finance Minister added.