Telangana Rythu Bandhu Life Insurance Bonds Scheme (Rs. 5 Lakh) for Farmers

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
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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.
Telangana 5 Lakh Life Insurance Farmers
Telangana 5 Lakh Life Insurance Farmers

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.

Announcement of Telangana New LIC Insurance Scheme – Rs. 5 Lakh on Death of Farmers

Telangana govt. is planning to launch a New LIC Insurance Scheme to benefit farmers. Under this scheme, govt. will provide an insurance amount of Rs. 5 lakh on the death of the farmer. The state govt. has announced that life insurance scheme will get launched on 2 June 2018. This scheme will be a Group Insurance Scheme and is applicable for all small, marginal and big farmers.

The state govt. is holding detailed discussions on Insurance Scheme including Central Government scheme to pay farmer’s share / premium amount. This scheme will be absolutely free of cost for the farmers.

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Govt. is consistently discussing with Life Insurance Corporation (LIC) officers to finalize modalities of scheme.

LIC Life Insurance Scheme for Farmers in Telangana

Life Insurance Corporation (LIC) is already running various schemes for the people across India. These schemes includes LIC’s Jeevan Utkarsh, Jeevan Pragati, Jeevan Labh, Jeevan Anand, Jeevan Rakshak, Jeevan Umang, Anmol Jeevan, Bima Shree and other Term insurance, Money back and Endowment Schemes. So, the state govt. of Telangana wants to start a new Insurance Scheme for all farmers including small, marginal farmers. The important features and highlights of this new LIC Insurance Scheme in Telangana are as follows:-

  • In case of death of the farmers, state govt. will provide an insurance amount of Rs. 5,00,000 to the family of farmers.
  • Life Insurance Corporation (LIC) will implement this insurance scheme.
  • The state govt. will pay the premium on behalf of the farmers.
  • Govt. will allocate a budgetary provision for this insurance scheme of farmers. This would be a Group Insurance Scheme.
  • This amount will be an assured amount and will be paid directly into the bank account of the farmers.

Last Week, Telangana govt. has also launched Rythu Bandhu – Farmers Investment Support Scheme (FISS) for farmers. Under this scheme, the state govt. will provide an crop investment support of Rs. 8,000 per acre (for 2 crops) in an year to boost the agricultural production.

In addition to this, the state govt. has also launched Pattadar Passbook initiative to end land disputes of farmers. This scheme was started with a budgetary allocation of Rs. 12,000 crore to benefit 58 lakh farmers in the state.

KCR Mega Health Cum Life Insurance Scheme in Telangana for Ryots

Telangana govt. has announced KCR Mega Health Cum Life Insurance Scheme for Ryots. Subsequently, the state govt. will provide an insurance cover of Rs. 5 lakh p.a for health-care and hospitalization and even in the case of death. Accordingly, KCR govt. is going to allocate Rs. 500 crore in Telnagana Budget 2018-19 for successful implementation of this health-cum-life insurance scheme. Moreover, this scheme will benefit around 70 lakh small and marginal farmers in the state.

Under Mega Health Cum Life Insurance Scheme, govt. will provide the insurance amount to the families of farmers in case of accidental death or death due to any natural cause. Henceforth, farmers will not have to pay any premium for this insurance coverage. Telangana state govt. will bear the entire premium amount for the benefit of farmers.

KCR announced this pro-farmer initiative in response to a farmer seeking insurance in Regional Conference of Mandal Level Farmers Coordination Committee. This Regional Rythu Samanvaya Committees awareness meeting event held at Ambedkar Stadium on 26 February 2018.

Telangana Mega Health Cum Life Insurance Scheme Application Forms

Similar to other schemes, farmers have to fill the application forms to avail the benefits of this Mega Health Cum Life Insurance Scheme. Accordingly, KCR govt. will soon send the insurance application forms to the villages. Henceforth, FCC members will ensure that each and every farmer in rural areas fills this Insurance Form.

FCC members are given the responsibility to provide insurance facilities to all ryots. Moreover, for the welfare of farmers, govt. is also going to start Input Assistance Scheme / Farmers Investment Support Scheme (FISS) to provide financial assistance of Rs. 4000 per acre for Yasangi and Kharif crops.

Moreover, FISS Scheme is not for tenant farmers as the rules of Tenant Act are very strict. As per the rules in Tenant Act, tenant farmers are not actual farmers rather other farmers cultivate their land. Accordingly, around 97% of farmers in the state cultivates their land on their own instead of giving it on rent to other.

Moreover, all types of orchards and non-tribal cultivating land are eligible for financial assistance under FISS Scheme. Henceforth, FISS scheme will protect the interest of land owners with total outlay of Rs. 12000 crore.

Minimum Support Price – MSP Issue of Farmers

CM KCR also responded on the question of Minimum Support Price (MSP) of the farmers. Central govt. has the authority to fix and announce the MSP of crops. Telangana govt. is making every possible effort to increase the MSP and is also raising this issue in the parliament.

Telangana govt. seeks Rs. 2200 MSP for Paddy and also urges the Central govt. to enhance the MSP of Wheat. Furthermore, the state govt. will launch an agitation in support of farmers if Central govt. does not take any positive decision on MSP.

1 thought on “Telangana Rythu Bandhu Life Insurance Bonds Scheme (Rs. 5 Lakh) for Farmers”

  1. is that person is required when the submission of passbook,Adharcard xerox.. bcz my father is not available right now..

    Reply

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