August 4, 2025 |
India’s largest life insurer — Life Insurance Corporation of India (LIC) — has announced a new women-focused initiative called ‘Insurance Sakhi’, designed to boost female participation in its agency network. Under this scheme, newly appointed women LIC agents will receive a monthly incentive of ₹7,000 for 12 months, helping them build a strong start in the insurance business.
What is the ‘Insurance Sakhi’ Scheme?
The ‘Insurance Sakhi’ scheme is a financial support program launched by LIC for female agents who join the corporation after April 1, 2025. It aims to:
- Encourage more women to join the insurance workforce
- Support them during their initial income-building phase
- Promote women-led financial awareness in semi-urban and rural areas
This scheme aligns with LIC’s wider effort to empower women financially and bring gender balance into the insurance sector, especially in underrepresented regions.
Who Can Benefit?
Any woman who is appointed as a new LIC agent after April 1, 2025, and meets LIC’s onboarding criteria, is eligible. Once active, they will receive:
- ₹7,000/month directly in their bank account
- For a full 12-month period, regardless of commission earnings
- Access to training, mentoring, and digital tools
This incentive is provided in addition to commissions and bonuses that agents typically earn.
Why LIC Launched This Now
According to LIC officials, the scheme is a step toward financial inclusion and career development for women, especially homemakers, single mothers, and rural women seeking income without full-time employment.
Over the years, women have proven to be strong performers in insurance distribution — especially in building trust and long-term relationships with policyholders. However, many struggle in their early days due to a lack of steady income. The ‘Insurance Sakhi’ scheme bridges that gap.
LIC’s Broader Vision
- Increase digital onboarding and training tools for agents
- Encourage participation of women from Tier-2 and Tier-3 cities
- Align with government efforts like Mission Shakti and Skill India
This initiative comes at a time when the insurance industry is seeing rising demand from women policyholders, especially in term insurance, savings-linked plans, and child policies.
How to Apply
Women interested in becoming LIC agents under the ‘Insurance Sakhi’ scheme can:
- Visit their nearest LIC branch
- Connect with an existing LIC Development Officer
- Or apply through the official LIC career portal
Applicants must be at least 18 years old and have cleared Class 10 exams. No prior insurance experience is required.
With the ‘Insurance Sakhi’ scheme, LIC is not just recruiting more women — it’s giving them the financial confidence to start strong. By offering ₹7,000 per month as a cushion during the first year, LIC is making the insurance sector more inclusive, stable, and future-ready.
“This move aligns with other digital-first innovations in the industry, like Policybazaar’s recent launch of ClaimSetu, India’s first AI-powered group health claims engine.”
