‘Bima Sakhi’ scheme lauded for boosting women entrepreneurs in insurance
The 'Bima Sakhi' scheme is being recognized for its role in empowering women in Kadapa by providing them with opportunities to work as insurance agents. The program offers financial incentives and has significantly contributed to the expansion of life insurance coverage in rural areas.
Why it matters
Government-backed initiatives that combine financial inclusion with women's empowerment are essential for rural economic development.
Speakers at the 70th Insurance Week celebrations conducted at the Life Insurance Copy of India (LIC) Kadapa divisional headquarters here on Tuesday praised the Central government’s ‘Bima Sakhi’ scheme for creating women entrepreneurs, in addition to expanding the reach of life insurance policies in previously uncovered areas.
Kadapa District Rural Development Agency (DRDA) Project Director G. Rajyalakshmi, who participated in the event as the chief guest, acknowledged the scheme’s benefit in encouraging women, who have completed SSC and 18 years of age, to start a career as life insurance agents.
Apart from the commission, the scheme also provides women a monthly stipend of ₹7,000 during the first year, ₹6,000 in the second year and ₹5,000 in the third year as a form of incentive. She expressed hope that the scheme would ensure life insurance coverage among the rural population.
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