The Telangana government today said it would provide life insurance cover to all farmers in the state for Rs five lakh each. The scheme would get underway from August 15 this year, Chief Minister K Chandrasekhar Rao said after chairing a meeting with ministers and officials on the insurance scheme, a release from his office said. The entire premium, whatever might be the total amount, would be paid by the government, it said.
He said funds required for the purpose would be budgeted and the total premium amount credited to the implementing agency, the Life Insurance Corporation, by the first of August every year. The insured amount of Rs five lakh should be paid to the nominee proposed by the insured farmer within 10 days of the claim, “irrespective of the reason due to which a farmer dies, including natural death,” the release added.
A separate release from the Chief Minister’s office said the state cabinet would meet on May 27 to discuss the new insurance scheme for farmers and also the proposed zonal system for government employment.