LIC is planning to launch a product specifically designed for rural areas to achieve Insurance For All by 2047 . The product will consist of life, health, and property insurance, with a women-centric distribution channel model. The IRDAI has proposed guidelines for Bima Vahaks , which seek to establish a dedicated distribution channel at the level of Gram Panchayats.
The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme and the National Pension Scheme (NPS) for Traders and Self-Employed, both launched in 2019, are administered by the labour and employment ministry and implemented through LIC and Common Service Centre eGovernance Services India Limited.