Life Insurance Corporation of India (LIC) has significantly strengthened its grassroots distribution network through the government-supported Bima Sakhi Yojana, aimed at expanding insurance access while promoting women’s financial empowerment.
2.90 Lakh Women Agents Strengthen Rural Reach
Under the scheme, launched in December 2024, Life Insurance Corporation of India has inducted approximately 2.90 lakh women agents across the country.
As per information released by the Press Information Bureau, these agents have collectively sold over 14 lakh insurance policies within one year. The initiative now has representation in more than 50% of India’s panchayats, marking a major step toward deeper rural penetration.
The Bima Sakhi Yojana provides participating women agents with:
- A fixed monthly stipend for the first three years
- Commission-based income linked to policy sales
The stipend begins at ₹7,000 per month in the first year, gradually tapering to ₹5,000 per month by the third year, helping ensure income stability during the initial phase of onboarding.
Expanding Agency Network Under Jeevan Samarth
- Nagaraju, Secretary at the Department of Financial Services, highlighted that LIC’s vast agency force remains its core strength, enabling deep regional presence and customer trust.
Through the Jeevan Samarth initiative, LIC’s total agency network has grown to over 14.8 lakh agents, with focused recruitment in the 18–40 age group to modernise and future-proof the distribution base.
Nagaraju described LIC as not merely an insurer but a systemically important institution that contributes meaningfully to India’s financial stability.
Strong Asset Base and Push Toward Digital Adoption
LIC currently manages assets worth approximately ₹57.23 lakh crore, underscoring its scale and dominance in the Indian insurance sector.
The Department of Financial Services has encouraged accelerated adoption of digital and mobile platforms to support the long-term goal of “Insurance for All 2047.” Expanding digital accessibility is expected to improve service efficiency while maintaining outreach across semi-urban and rural geographies.
Summary
LIC has onboarded nearly 2.90 lakh women agents under the Bima Sakhi Yojana, who have collectively sold over 14 lakh policies within a year, strengthening rural insurance penetration. With its total agency force crossing 14.8 lakh and assets under management at ₹57.23 lakh crore, LIC continues to expand outreach while advancing digital adoption to support its long-term Insurance for All 2047 objective.
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.