The Telangana government and Life Insurance Corporation of India signed a memorandum of understanding on Rythu Bandhu Life Insurance Scheme to give a life cover of ₹ 5 lakh to pattadar farmers, at the HICC here on Monday.
Parthasaradhi, Principal Secretary, Agriculture and G. Satyanarayana Shastry, Regional Manager, LIC signed the MoU on behalf of the State Government and the LIC and exchanged the documents in the presence of Chief Minister K. Chandrasekhar Rao and LIC Chairman V.K. Sharma. Farmers aged between 18 years and 59 years will be eligible for the insurance scheme, which will come into effect from August 15.
Mr. Sharma, hailing the Rythu Bandhu insurance scheme as the first being implemented anywhere in the country for the welfare and prosperity of farmers, described Mr. Chandrasekhar Rao as a visionary leader and genuine ‘Rythu Bandhu’ (well-wisher of farmers). He promised to the State government and the Chief Minister that the LIC would settle claims within 10 days in the event of a farmer’s death and hand over ₹ 5 lakh to the nominee.
The Chief Minister said that they chose LIC for the scheme as it was not only the most credible organisation, but also had extensive network and presence. “ I consider the insurance scheme as the greatest work of mine so far for the welfare of about 56 lakh farmers,” he said. The government will make separate budgetary allocation for the payment of premium every year. Addressing a huge gathering of district and mandal-level coordinators of farmers, Agriculture extension officers from 30 districts of the State at the awareness workshop on Rythu Bandhu Insurance Scheme, Mr. Chandrasekhar Rao emphasised the key role to be played by the mandal coordinators and AEOs. He said it was the responsibility of the AEOs and mandal coordinators to ensure that the pattadar passbook holders filled the insurance scheme forms with required details and give the name of the nominee, be it wife, son/daughter and the details be uploaded into Rythu Bandhu portal and they in turn would be furnished to the LIC before August 15. If a farmer dies, his or her nominee would get ₹5 lakh within 10 days, the Chief Minister said.
About 2,000 newly recruited young AEOs were specially acknowledged by the Chief Minister and he reminded them about the important role to be played in educating, advising and organising the farmers about better cropping pattern, marketing of their produce, farm mechanisation, investment support and ensuring minimum support price for their produce.
