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Rythu Bandhu KCR covers all farmers with insurance
Telangana Chief Minister K Chandrasekhar Rao on Friday decided to launch a new life insurance scheme for the farming community on the Independence Day. The insurance scheme will cover all the farmers between 18-59 age group. Under the scheme, the farmers will have Rs 5 lakh cover.
Hyderabad: Telangana Chief Minister K Chandrasekhar Rao on Friday decided to launch a new life insurance scheme for the farming community on the Independence Day. The insurance scheme will cover all the farmers between 18-59 age group. Under the scheme, the farmers will have Rs 5 lakh cover.
Irrespective of the reason due to which a farmer dies, including natural death, the insured amount will be paid to the nominee proposed by the insured farmer within 10 days of the claim. The Agriculture department has been entrusted with the task of enrolling farmers in the insurance scheme.
Taking into consideration the credibility and enormous network maintained by the Life Insurance Corporation (LIC), a Government of India undertaking, the state government has entrusted the implementation of the insurance scheme to the corporation, the Chief Minister said and added that the funds required for the payment of total premium will be budgeted and will be credited to the implementing agency every year by August 1.
KCR reviewed the design and implementation process of the life insurance cover for the farmers with officers from Agriculture and Finance departments as well as with the LIC representatives at Pragati Bhavan here on Friday. ‘‘The small and marginal farmers in Telangana account for 93 per cent.
There are 18 lakh farmers whose holdings are less than an acre. Their livelihood is entirely agriculture and farming and for any reason when the farmer dies his family will have to face economic hardships. In view of this, the government had decided to provide Rs 5 lakh insurance cover to the farmer. This would be to ensure proper support to the deceased family,” the CM said this is another step forward in addition to the Rythu Bandhu scheme to protect the farmers from their problems.
The date of birth as on Aadhaar card will be taken as the standard one. By August 15, 2018, the person to be insured should be between 18 and 59 years of age, officials said, adding the insurance bonds will be distributed to the beneficiaries after August 15.
