Rs 5 lakh of life cover for farmers in Telangana

On Friday, the state government of Telangana revealed that they are working on the execution of the progressive plan to help farmers to secure their life, a scheme to provide life insurance to every individual farmer in Telangana up to five lakh. The state government plans to pay the entire premium every year on August 1.

While announcing the decision, Chief Minister K Chandrashekar Rao said, “We are already giving Rs 8,000 per acre under Rythu Bandhu towards investment support and supplying free power round the clock. Now we have come out with a unique life insurance scheme for the farmer.”

The insurance scheme will commence on August 15 and farmers will be given insurance bonds, he said. The entire premium will be paid by the government, and the funds for the same will be budgeted. Every year on August 1, the total premium amount will be credited to LIC, the implementing agency, he added.

To a query, Rao said that irrespective of the reason for which a farmer dies, including natural reasons, the insured amount will be paid to the nominee within 10 days of the claim. The CM said the premium amount would have been less in case of accidental insurance, but the government had decided to provide life insurance in order to help the family of the deceased as it was the government’s responsibility.

while addressing the LIC officers he said, “Small and marginal farmers in Telangana account for 93 percent. There are 18 lakh farmers whose holdings are less than one acre. Their livelihood is entirely agriculture and farming. When the farmer dies for any reason, his family will face a lot of hardship. So we have decided to provide Rs 5 lakh insurance coverage to the farmer. This is another step forward by the government”.

Such schemes for the farmers are the relevant example that the government is working towards the betterment of the feeder of the nation. The plan is on the vision now but the result will bring the change only after the implementation.