Telangana government has launched Rythu Bandhu Life Insurance Bonds Scheme 2018 for farmers. Under this scheme, govt. will provide Rs. 5 lakh insurance to ryots. All the families of farmers covered under Rythu Bandhu Scheme will get this amount irrespective of whether the death is natural or accidental.
All the farmers between the age group of 18 to 60 years can avail benefits of Rythu Bandhu Life Insurance Bonds Scheme. This Life Insurance Scheme will benefit around 28 lakh (2.8 million) farmers out of the total 5.8 million farmers.
This is first of its kind initiative across the country and the state govt. has marked the official launch of the scheme on 6 August 2018. Most of the bonds are expected to be given to the farmers by 15 September 2018.
Telangana Rythu Bandhu Life Insurance Bonds Scheme 2018
The important features and highlights of this Life Insurance Scheme are as follows:-
- All the land owners who have received monetary assistance of Rs. 4,000 under the Input / Financial Investment Support Scheme (FISS) are eligible.
- This scheme is limited to farmers falling in the age group of 18 to 60 years.
- The insurance amount in case of either death or accident will be given to the family of farmers in 10 days itself. The state govt. has made an investment of around 650 crore in Rythu Bandhu Life Insurance Bonds.
- Rythu Bandhu Life Insurance Bonds (as the scheme is called) is expected to benefit 2.8 million farmers (out of 5.8 million).
- Previously under the Rythu Bandhu Scheme, the state govt. has given investment support to bear farming costs to boost agricultural production.
- On 6th August 2018, Agriculture Minister Pocharam Srinivas has distributed the life insurance bonds to farmers in Kamareddy district. Various officials from the agriculture department took up the distribution in other parts of the state.
- The state govt. believes that most of the insurance bonds will be given to the farmers by 15 September.
- Rythu Bandhu Life Insurance Bonds Scheme is continuous as eligible farmers will be added from time to time. Moreover, all those beneficiaries who become ineligible after attaining the age of 60 years will be removed from the list of beneficiaries.
Tenant farmers are consistently demanding to add their names in the list of beneficiaries. But the tenant farmers are not included in this Life Insurance Scheme as well as in Rythu Bandhu Scheme. Such farmers are left out because it is very difficult to identify tenant farmers and that they have no rights over the lands.
Earlier, the state govt. had distributed cheques of Rs. 4,000 under Rythu Bandhu programme. This scheme benefited around 5.8 million (58 lakh) land holding farmers and provides assistance to bear farming costs such as purchase of fertilizers and seeds.