The ₹5 lakh insurance cover for farmers in Telangana is a government initiative aimed at providing financial security to the farmers’ families in the case of any unfortunate accident causing the death of the farmer. The insurance coverage started on August 15, 2018, and covers farmers aged between 18 and 60 years this scheme undertakes the responsibility of paying the insurance premium on behalf of approximately 50 lakh farmers.
The premium which is nearly ₹500 crore for this insurance is fully paid by the state government, and the Life Insurance Corporation of India (LIC) is responsible for paying out the insurance amount in case of a farmer’s death. All the details regarding the scheme, eligibility, benefits, application process, and how to check the beneficiary status are explained below in detail.
Farmer Insurance Scheme Benefits
Insurance Coverage: Each eligible farmer is provided with a life insurance cover of Rs 5 lakh, which acts as financial security for the farmer’s family in the event of the farmer’s demise.
Premium Payment: The farmers do not have to pay any premium; it is entirely covered by the state government.
Coverage Type: The insurance covers both natural and accidental deaths.
Farmers living in Telangana who are between 18 and 60 years old are covered under this insurance scheme.
How to apply for Farmer Insurance coverage?
The application process for the Rs 5 lakh insurance cover for farmers in Telangana is relatively straightforward but is carried out offline. The farmers do not have to individually apply for this insurance, as the state government auto-enrolls all eligible farmers, but the age criterion will be taken into account.
How does a nominee claim the Insurance?
The nominee should inform the local Life Insurance Corporation of India (LIC) office about the death of the farmer as soon as possible. Then, the nominee or successor of the deceased farmer should visit the nearest LIC office to start the claim process.
Carry and submit the following necessary documents to the LIC office: Once the claim form and required documents are submitted, the LIC office will process the claim. The nominee should guarantee that all the details provided are accurate to avoid any delays in processing.
After the verification and processing of the claim, the insurance amount of Rs 5 lakh will be given to the nominee within 10 days of the claim submission.
- Valid Identity proof like an Aadhaar card, Ration card, or Voter ID card.
- Address proof.
- Medical reports (if applicable)
- Domicile certificate