Rythu Bandhu Pathakam (Bheema) Life Insurance Bond Scheme in Telangana 2018 For Farmers List Application Form, Portal
The state government of Telangana has already implemented the Rythu Bandhu scheme that offers farmers with money for meeting the agricultural requirements, before sowing the seeds. It was to eliminate financial burden from the shoulder of the agricultural workers. But state government felt that more security was needed for these cultivators. Thus, they implemented a new scheme that offers life insurance to the state farmers. The name of this life insurance policy is Rythu Bandhu Insurance Scheme. This policy will support the farmer’s family in case of death.
|Name of the policy||Rythu Bandhu Insurance Bond Scheme|
|Launched by||K. Chandrashekar Rao|
|Date of implementation||August 2018|
|Target beneficiaries||Farmers of the state|
Agriculture Cooperation & Farmers Welfare in Telangana
Key features of the policy
- Securing farmers’ lives – The main objective of this life insurance scheme is to secure the farmers’ lives and offer their families with financial support.
- Total insurance coverage – Under this scheme, insured farmers will receive life coverage of Rs. 5 lakhs.
- Premium amount – To attain this insurance policy, a premium of Rs. 2,271 needs to be paid. This amount has to be paid once every year.
- Coverage payment – Once the farmers pass away, the family needs to submit the policy papers. The state authority highlighted that all settlements will be settled within 10 days.
- Cause of death – Farmers who die due to natural causes as well as those who pass away due to any accident will be entitled to receive the insured coverage sum.
- Insurance company – To offer this life insurance policy, state government has come to an agreement with LIC or Life Insurance Corporation of India. Offering life insurance policy and settling the claims will be the responsibility of this agency.
- Total number of beneficiaries – There are around 5.8 million farmers in Telangana. With the implementation of this insurance policy, state government will offer this financial security to as many as 2.9 million agricultural workers.
- Not for tenant farmers – As of now, the state government has announced that this scheme will offer life coverage to those farmers who actually own the farm plot. Nothing has been mentioned about the inclusion of tenant farmers.
- Distribution of bonds – The state government has already started the process of implementing the scheme. CM is positive that LIC will complete the bond distribution by the end of September 2018.
- Transfer in bank – In case of death, the family of the farmer or the nominee will receive the insurance amount in the active bank account.
What is Rythu Bandhu Scheme?
The Rythu Bandhu Scheme is also known as Farmers’ Investment Support Scheme and was implemented by Telangana government in 2018. Under this scheme, each applicant was offered Rs. 4000 for every acre of cultivated land. This amount will be offered for Kharif as well as Rabi season. It will support farmers to meet their farm investments.
Eligibility and documents necessary for application
- Residential requirements – Only residents of Telangana will be able to opt for this benefit. So, applicants have to submit their domicile certificate with the enrollment form.
- Occupational requirement – This project has been designed and implemented for the benefit of farmers. Thus, only those who depend on farming to earn their livelihood will be able to apply.
- Age related criterion – It has been highlighted that only those farmers will be able to apply for this insurance coverage who fall in the age bracket of 18 and 60 years. Thus, every applicant has to submit age proof.
- Bank account details – As the insurance amount will be transferred in the bank account, all interested applicants must offer details like the account number, bank name, branch name, branch code and address during application.
Application form and procedure
The scheme has been launched recently. Thus, state government has not highlight any guidelines regarding the application process. But the policy bond and settlement will be done by LIC. We will offer application and claim related details as soon as the state offers pertinent information.
Insuring health of crops is not enough. With the implementation of farmer life insurance policy, Telangana state government will be able to offer financial assistance to the farmer’s family in case of sudden death of the policy holder.
Other Articles –
- Teacher Recruitment Pavitra Portal in Maharashtra
- Bihar Voter ID card Download 2018/08/06
- 2BHK Double Bedroom Housing Scheme Telangana
- Tarpaulins Sheets Subsidy Scheme Telangana