Telangana LIC Life Insurance Scheme – The State Government of Telangana is considering for the launch of a New LIC Insurance Scheme for the farmers of the state. Under this scheme, the state government will provide an insurance amount of Rs. 5 lakh on the death of the farmer. The Telangana Government announced that this insurance scheme will be launched on 2 June 2018. This life insurance scheme will be a Group Insurance Scheme and all the small, marginal and big farmers can avail the benefits of this scheme.
Telangana Government is currently discussing on Insurance Scheme including Central Government scheme to pay the farmer’s share/premium amount. Besides this, this insurance scheme will be absolutely free for the farmers of the state.
Telangana LIC Life Insurance Scheme
LIC, the Life Insurance Corporation is already running various insurance schemes for the people throughout India. It includes many schemes such as – 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. Thus, the Telangana Government is also going to launch a new Insurance Scheme for all the farmers of the state including small, marginal farmers. Below are some important features and highlights of this scheme –
- Under this scheme, the state government will provide a total amount of Rs.5 lakh to the family of the farmer in case of death of the farmers.
- This scheme will be implemented by the Life Insurance Corporation (LIC).
- Besides this, the Telangana Government will pay all the premium on the behalf of the farmers.
- The State Government of Telangana will also sanction a budgetary provision for this life insurance scheme of farmers. This scheme will be a Group Insurance Scheme.
- This insurance amount will be an assured amount and will be paid directly into the bank account of the farmers.