Which of the following statements is incorrect regarding the LIC Bima Sakhi Yojana?

Correct option is E

The LIC Bima Sakhi Yojana targets women aged 18 to 70 years who have completed at least Class 10 education.
Key Features of the Scheme:
· Compensation Structure:
· Stipend for the first three years:
· Rs 7,000 in the 1st year.
· Rs 6,000 in the 2nd year.
· Rs 5,000 in the 3rd year.
· Commissions based on policy sales.
· Enrollment Targets:
· 100,000 women in the 1st year.
· 200,000 women over three years.
· Training & Career Progression:
· Training by IRDAI with potential for permanent agent status.
· Focus Areas:
· Presence of at least one agent per panchayat area.
· Emphasis on selling low-value policies in rural markets.
· Financial Commitment:
· LIC to invest Rs 840 crore in the first year, aiming for 4-5 times premium income.