HYDERABAD: All the farmers in Telangana, who are aged between 18 and 59 years, will get `5 lakh insurance coverage from August 15.The state government will pay the premium on behalf of around 50 lakh farmers and the LIC will pay the insurance amount in case of death of any farmer. This is the first time in the country that farmers are getting Rs 5 lakh insurance coverage in Telangana, according to officials.
Chief minister K Chandrasekhar Rao held a high-level review meeting at Pragathi Bhvan here on Friday along with officials and representatives of Life Insurance Corporation and finalised the modalities. Already, the state government is providing `8,000 per acre for two crops in a year towards investment support scheme (Rythu Bandhu) and providing 24X7 free power to tillers.
“The farmers need not pay a single rupee as premium for getting the insurance coverage. The state government will pay the premium on their behalf,” Rao said. He told the representatives of LIC that the state government would pay the premium amount on the first of August every year. As LIC had a credible and good track record, the government decided to implement the farmers’ insurance scheme through LIC, he said.
“Irrespective of the cause of death, if a farmer dies, his nominee will get `5 lakh within 10 days of the death. It is not an accidental insurance alone but will cover natural death too. As we are paying huge premium amount, the LIC should implement the scheme in a fool-proof manner,” Rao told the company’s representatives.
