Indian Prime Minister Narendra Modi announced the launch of the ‘Bima Sakhi Yojana’ (BSY), a program by the Life Insurance Corporation (LIC), aimed at appointing 200,000 women insurance agents over the next three years. This initiative begins with the recruitment of 25,000 women this year, promoting financial independence and extending LIC’s reach into underserved regions. The women, aged 18 to 70 and who have completed secondary school, will receive training and stipends over three years—starting at INR 7,000 ($82.50) per month. LIC anticipates that for every rupee spent on stipends, they will generate five times in new business, potentially bringing in INR 40 billion in the first year.
