Telangana CM K Chandrashekhar Rao on Monday announced the Rs 5 lakh life insurance to farmers in the telangana state as the absolute most huge thing he has done on his life. The Telangana Government and the Life Insurance Corporation of India (LIC) marked a reminder of comprehension in such manner at Hitex in Hyderabad.
He tended to a tremendous social affair of mandal and town level Rythu Samanvaya Samithis representatives alongside 2,000 assistant extension officers of the Agriculture Department alongside numerous other office authorities at the gathering. Telangana Chief Minister K Chandrashekhar Rao talking at the gathering reported that any protection claim will be cleared inside 10 days.
He coordinated the extention officers on their duty in regards to the usage of the insurance scheme . The insured amount of Rs five lakh should be paid to the nominee proposed by the insured farmer within 10 days of the claim, “irrespective of the reason due to which a farmer dies, including natural death,” the release added.
This is the first time in history that Rs 5 lakh is the insured amount under a group insurance. It is also a record that several lakhs of farmers are members in the scheme. This has never happened in the history of insurance companies in the country. The group insurance scheme to the farmer of Telangana is a record of its own,” the CMO said in the statement.