The initiative empowers rural women as LIC insurance agents under the Bima Sakhi scheme, strengthening grassroots financial inclusion
New Delhi (Economy Iindia): Life Insurance Corporation of India (LIC) has entered into a strategic partnership with the Ministry of Rural Development to promote its women-centric insurance initiative, Bima Sakhi Yojana, across rural regions of the country.
The Memorandum of Understanding (MoU) was formalized during the National Conclave on Financial Inclusion – ‘Anubhuti’, held in Goa from July 8 to 10. The event brought together key stakeholders from government and financial sectors to discuss inclusive growth through financial empowerment.
According to an official statement by LIC, the Bima Sakhi Yojana aims to strengthen financial independence among women by integrating them into the insurance sector as grassroots-level distribution agents. The program offers specialized training and opportunities for rural women to represent LIC and expand insurance outreach in their communities.
“Bima Sakhis are more than policy agents; they are catalysts of financial literacy and economic empowerment at the village level,” said a senior LIC official. “This collaboration with the rural development ministry will help us accelerate penetration of life insurance services in untapped areas, particularly among women.”
The initiative aligns with the government’s broader agenda of promoting financial inclusion, women entrepreneurship, and rural livelihood enhancement. It is also expected to play a role in improving social security coverage in semi-urban and rural regions.
By leveraging Self-Help Groups (SHGs) and other rural networks, LIC hopes to onboard thousands of women as Bima Sakhis, offering them a sustainable income opportunity while advancing insurance awareness.
The Ministry of Rural Development has committed to supporting LIC in mobilizing local participation and infrastructure support to ensure the program’s success. With this MoU, both institutions aim to bridge the financial inclusion gap and provide last-mile delivery of insurance services across India’s vast hinterland.
(Economy India)
