Launched on 15 August 2018 by the Department of Agriculture, Government of Telangana, the “₹5 Lakh Insurance Cover for Farmers” scheme is designed to ensure financial security for farmers and their families. Under this scheme, all eligible farmers between the ages of 18 and 60 receive an insurance cover of ₹5 lakh, regardless of the cause of death. The nominee is entitled to receive the compensation within 10 days of the farmer’s death. Importantly, farmers incur no cost for this coverage, as the state government bears the annual premium—amounting to nearly ₹500 crore—for approximately 50 lakh farmers through the Life Insurance Corporation of India (LIC).
Benefits
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Financial Security:
Provides a ₹5 lakh insurance cover to protect the financial future of the farmer’s family in the event of death. -
Comprehensive Coverage:
Covers death due to any cause, including natural causes and accidents. -
Quick Disbursement:
The compensation is disbursed to the nominee within 10 days of the farmer’s death. -
Zero Cost:
Farmers do not have to pay any premium; the state government covers the entire cost. -
Wide Coverage:
Approximately 50 lakh farmers benefit from this scheme annually, ensuring widespread financial protection.
Eligibility
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Residency:
The beneficiary must be a resident farmer of Telangana. -
Age:
Farmers aged between 18 and 60 years are eligible. -
Coverage:
The scheme covers all eligible farmers regardless of the cause of death.
Application Process
Offline Process (Claim Process):
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Enrollment:
Farmers are automatically enrolled in the scheme; there is no need to apply or submit documents during enrollment. -
Claim Submission:
In the unfortunate event of a farmer’s death, the nominee must approach either the Department of Agriculture, Government of Telangana, or the local LIC office. The nominee will need to submit:- The death certificate of the farmer.
- Nominee’s identity proof (such as Aadhaar or Voter ID).
- Proof of nomination (if applicable).
- Farmer’s Aadhaar or any other identification documents (if required).
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Disbursement:
Once the required documents are verified, the claim amount of ₹5 lakh is processed and disbursed to the nominee within 10 days.
Documents Required for Claim
- Death Certificate:
Issued by a competent authority. - Nominee’s Identity Proof:
Aadhaar Card, Voter ID, etc. - Proof of Nomination:
As applicable. - Additional Documents:
Any other documents as specified by LIC or the Department of Agriculture.
Frequently Asked Questions
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How much insurance coverage is provided under this scheme, and what are its benefits?
The scheme provides a ₹5 lakh insurance cover, offering financial security to the farmer’s family by paying out compensation within 10 days of the farmer’s death. -
Who is eligible for this insurance scheme?
All resident farmers of Telangana aged between 18 and 60 years are eligible. -
Does the insurance cover accidental and natural deaths?
Yes, the scheme covers death due to any cause, including natural causes and accidents. -
Do farmers need to apply for this scheme?
No, farmers are automatically covered under the scheme, and the state government pays the premium on their behalf. -
What is the process for claiming the insurance?
In case of death, the nominee must approach the Department of Agriculture or the LIC office with the necessary documents (death certificate, identity proof, etc.) to initiate the claim process. -
How quickly is the compensation disbursed?
The nominee will receive the compensation within 10 days of the farmer’s death. -
Is there any cost to the farmer for this insurance?
No, the scheme is fully funded by the state government, and farmers do not have to pay any premium. -
How many farmers benefit from this scheme annually?
Approximately 50 lakh farmers are covered under this scheme.