LIC Bima Sakhi Yojana as a Catalyst for Women Empowerment in Rural India

Women empowerment is a critical component of inclusive growth, financial inclusion, and sustainable development. The LIC Bima Sakhi Yojana, introduced by the Life Insurance Corporation of India (LIC), aims to enhance insurance awareness, financial literacy, and livelihood opportunities among rural women. The present study examines the role of the LIC Bima Sakhi Yojana in promoting the socio-economic empowerment of rural women in Coimbatore District, Tamil Nadu.
Primary data were collected from 600 rural women respondents using a structured questionnaire. Percentage Analysis, Garrett Ranking Analysis, Spearman Rank Correlation, and Multiple Regression Analysis were employed to analyze the data. The findings reveal that a considerable proportion of respondents perceive the scheme as contributing to gender equality, financial inclusion, economic participation, and community development. Garrett Ranking Analysis indicates that gaining financial knowledge, earning income, and supporting family financial needs are the most important benefits associated with becoming a Bima Sakhi. The correlation analysis reveals that awareness alone does not have a significant relationship with socio-economic empowerment. However, the regression results confirm that awareness and perceived effectiveness of the scheme jointly exert a significant influence on women's socio-economic empowerment.
The study concludes that the LIC Bima Sakhi Yojana serves as an important women-centric initiative that promotes financial literacy, insurance awareness, economic participation, and community engagement among rural women. Strengthening awareness programmes, training initiatives, and community-level participation can further enhance the effectiveness of the scheme in achieving women empowerment and sustainable development.

Women Empowerment, Rural Women, Financial Inclusion, Insurance Literacy, Socio-Economic Empowerment, LIC Bima Sakhi Yojana

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