Women today play multiple roles—earning members, caregivers, decision-makers and future planners for their families. But many women in India still do not have proper financial protection for emergencies. To close this gap, the Life Insurance Corporation of India (LIC) introduced LIC Sakhi Bheema Yojana, a special insurance plan designed to offer affordable coverage, long-term security and financial independence for women.
This scheme focuses on providing life protection, savings, and peace of mind at a premium most families can easily afford. In this article, we’ll explain everything about the policy, including benefits, features, eligibility, premium details, documents, application process and frequently asked questions.
What Is LIC Sakhi Bheema Yojana?
LIC Sakhi Bheema Yojana is a life insurance scheme specially crafted for women. It offers a combination of protection, savings, and long-term financial planning. The aim of the scheme is to empower women from all categories—housewives, working women, self-employed and rural beneficiaries—by giving them access to an affordable insurance plan.
This scheme encourages women to build financial strength in their own name while securing their family’s future. Whether it is for children’s education, household protection, or emergency funds, the policy offers multiple benefits with a very simple enrollment process.
Key Objectives of LIC Sakhi Bheema Yojana
The scheme was launched keeping a clear set of objectives in mind:
1. To Provide Security to Women
Many women do not have life insurance due to lack of awareness, financial dependency or high premium rates. This scheme provides coverage at affordable cost.
2. To Encourage Savings
The plan ensures that a part of the premium paid becomes a savings corpus. At maturity, the policyholder receives a lump-sum amount, helping them meet future needs.
3. To Support Women’s Financial Independence
Women often depend on others for financial decisions. This policy allows them to manage and build their own financial assets.
4. To Offer Protection for the Family
In case of the unfortunate death of the policyholder, the family receives a guaranteed amount to handle financial pressure.
Major Features of LIC Sakhi Bheema Yojana
Here are the highlights that make this policy appealing and useful for women:
• Affordable Premium
The premium is designed to suit women from middle-class, lower-middle and rural backgrounds. Even first-time insurance buyers can easily join the scheme.
• Life Coverage
The scheme offers life insurance coverage for the entire policy term. The sum assured provides financial security to the family.
• Savings Benefit
Along with protection, the policy builds a savings fund that is paid at maturity.
• Maturity Benefit
If the policy is active till the end of the term, the policyholder receives the sum assured plus any additional benefits.
• Loan Facility
After a few years of paying premiums, policyholders can avail loans against the policy when needed.
• Easy Enrollment
Women can join through LIC agents, online channels, banks or authorized centers without complicated paperwork.
• Tax Benefits
Premiums paid under the scheme may be eligible for tax benefits under Section 80C of the Income Tax Act.
• Special Focus on Rural and Low-Income Women
LIC aims to provide life security to women who are traditionally underserved in insurance markets.
Eligibility Criteria
To apply for LIC Sakhi Bheema Yojana, women must meet the following requirements:
- Gender: Only women can apply
- Age Limit: Minimum 18 years and maximum 55 years (varies by plan type)
- Policy Term: 10 to 20 years
- Minimum Sum Assured: As per plan guidelines
- Maximum Sum Assured: Depends on premium paying capacity
- KYC Required: Aadhaar, PAN, address proof
The eligibility is kept simple so that more women can take advantage of the scheme.
Benefits of LIC Sakhi Bheema Yojana
This scheme is designed to provide multiple layers of financial support. Let’s look at the benefits in detail:
1. Life Protection
If the policyholder dies during the policy term, the nominee receives the sum assured. This amount can help the family manage expenses, children’s education or household needs.
2. Maturity Benefit
If the policyholder survives the entire term, the accumulated amount is paid as maturity benefit. This helps women create their own financial cushion.
3. Guaranteed Saving Habit
Since premiums are paid regularly, women develop a disciplined savings habit—an important step toward long-term wealth creation.
4. Loans Against Policy
When unexpected financial needs arise—medical emergencies, child’s education or home repairs—women can take a loan without disturbing the policy benefits.
5. Tax Savings
Premium payments provide tax benefits under 80C, and maturity amount may be tax-free under Section 10(10D), subject to rules.
6. Financial Independence
Women can own a financial product in their own name, giving them confidence and security.
Premium Details
The premium depends on:
- Age of the applicant
- Policy term
- Sum assured amount
- Payment frequency (monthly, quarterly, yearly)
LIC provides flexible payment options so women can choose according to their budget.
For example:
If a woman aged 30 chooses a 15-year term with ₹2 lakh sum assured, the premium may be low and manageable depending on the plan’s exact structure.
Required Documents
Women applying for the scheme need to submit:
- Aadhaar Card
- PAN Card
- Address proof (Voter ID, Ration Card, Electricity Bill etc.)
- Age proof (Birth Certificate, School Certificate)
- Passport-size photographs
- Bank details
- Income proof (if required)
How to Apply for LIC Sakhi Bheema Yojana (Step-by-Step Guide)
The application process is simple and can be done online or offline.
Step 1: Visit the LIC Website or Contact an Agent
Women can apply through the official LIC portal or by contacting an authorized LIC agent.
Step 2: Choose the Policy
Select the sum assured and policy term based on financial needs.
Step 3: Fill the Application Form
Provide personal details, address and nominee details.
Step 4: Submit Documents
Upload or submit KYC documents for verification.
Step 5: Pay the Premium
Make the first premium payment to activate the policy.
Step 6: Receive Policy Document
Once the application is approved, LIC will issue a digital and physical policy bond.
Who Should Consider This Scheme?
LIC Sakhi Bheema Yojana is ideal for:
- Housewives who want financial security
- Women with no previous insurance
- Working women who want additional coverage
- Rural and low-income women
- Single mothers
- Women planning long-term savings
- Students aged 18+ planning early financial stability
The policy suits any woman looking for affordable insurance with savings benefits.
Why LIC Sakhi Bheema Yojana Is Important Today
Women today contribute equally to the family’s growth, yet most still lack insurance coverage. This increases financial risk during emergencies. LIC Sakhi Bheema Yojana reduces this risk by giving women a strong safety net.
As women take charge of financial decisions, this policy acts as a trusted tool for building long-term stability. It also encourages women to think about future planning—something that is becoming essential in today’s unpredictable world.
Tips to Choose the Right Sum Assured
While selecting the plan, women should consider:
- Monthly income and expenses
- Future needs like children’s education
- Outstanding loans
- Emergency fund requirements
Choosing the right sum assured ensures your family never faces financial pressure.
LIC Sakhi Bheema Yojana is more than just an insurance policy—it is a step toward empowering women with financial independence and lifelong security. With simple eligibility, low premiums, savings benefits and reliable coverage, the scheme helps women protect their future with confidence.
Whether you are a homemaker, working professional or entrepreneur, this policy gives you a chance to secure your family and build your own financial foundation. Investing in LIC Sakhi Bheema Yojana means investing in your own strength.
If you are planning to start your financial journey or want to add a strong protection plan to your portfolio, this scheme is a smart and affordable choice.
FAQs on LIC Sakhi Bheema Yojana
1. Is LIC Sakhi Bheema Yojana only for women?
Yes, this scheme is exclusively designed for women to promote financial security and independence.
2. Can housewives apply for this scheme?
Absolutely. Housewives are one of the main target groups of the scheme.
3. Does the policy offer maturity benefits?
Yes, the policyholder receives a lump-sum amount at maturity if the policy remains active.
4. Can women take a loan against this policy?
Yes, loan facility is available after a certain period of premium payment.
5. Are tax benefits available under this scheme?
Yes, tax benefits may be available under Section 80C and Section 10(10D).
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