Farmers' insurance claims to be settled in one week: LIC

The Life Insurance Corporation (LIC) on Monday said that any claim in the event of death of a farmer in Telangana will be settled within a week.

“It is my personal promise that if not a week, within 10 days, the amount of Rs.5 lakh will be deposited in the nominee’s bank account,” chairman VK Sharma said at a function where an MoU was signed between LIC and the state government on insurance to farmers. The premium will be paid by the government.

Not stopping at this, Sharma went on to sing paeans in praise of KCR. “It is a unique idea that the chief minister has come up with for the benefit of farmers,” he said.

Talking about the Rythu Jeevitha Bheema Pathakam, KCR said it would be implemented from August 15. “This



is the biggest decision I have taken in my life.” The CM said LIC was chosen as it’s dependable and trustworthy. “There were others who came forward, but we chose LIC because of its track record,” he said.

Making a significant remark, Sharma chipped in: “Governments lead farmers into debts by granting them loans, but here is an instance where a government has thought of prosperity of the farmers. KCR is a real ‘rythu bandhu’.”

The scheme is for farmers in the 18-60 age group. As many as 57 lakh farmers will be enrolled. The CM said the death certificate issued by a gram panchayat is acceptable to claim the insurance amount. The certificate need not mention even the cause of death.