THE STIPENDIARY SCHEME launched by Life Insurance Corporation on Monday to engage women career agents (MCAs) could cost the insurer ₹845 crore in the first year while the new business generated by them is likely to be five-seven times the cost incurred, chairman Siddhartha Mohanty said.
In the first year, LIC targets to engage 100,000 Bima Sakhis (MCAs) and reach the target of 200,000 in three years.
"The scheme will address unemployment and underemployment," Mohanty said, adding that each MCA is expected to sell at least 24 insurance policies annually. Based on their performance and clearing of a test, they can become LIC development officers.
This story is from the December 10, 2024 edition of Financial Express Ahmedabad.
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This story is from the December 10, 2024 edition of Financial Express Ahmedabad.
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