KCR Promises Rs 5 Lakh free Insurance for All Farmers in Telangana State. The Chief Minister K Chandrashekhar Rao (KCR) on Friday 25th May announced a mega health-cum-life insurance scheme for ryots, under which they will be provided a cover of Rs 5 lakh per annum for healthcare and hospitalization as also in the case of death. The Telangana State government will allocate Rs 500 crore in the budget for implementation of the scheme.
Telangana CM K Chandrashekhar Rao said, “Irrespective of the reasons due to which a farmer dies, including natural death, the insured amount of Rs 5 lakhs shall be paid to the nominee proposed by the insured farmer within ten days of the claim. The idea behind this is to come to the rescue of the deceased’s family.”
KCR Promises Rs 5 Lakh free Insurance for All Farmers in Telangana:
According to the Telangana government, the scheme will commence on 15th August 2018.
The government will pay the entire premium to LIC on behalf of farmers. It has sanctioned Rs 500 crore for the scheme in the Budget. It will cover farmers aged between 18 and 59 years. The insurance is applicable till the age of 60.
The CM directed officials to prepare a list of farmers falling in this age group and submit to the government. The government will submit the list to the LIC and pay the premium at one go.