₹1,450 cr. premium to LIC for Rythu Bima
The Hindu
The State government has handed over a cheque of ₹1,450 crore to the Life Insurance Corporation (LIC) of India here on Tuesday towards the annual premium for Rythu Bima, farmers’ group life insurance
The State government has handed over a cheque of ₹1,450 crore to the Life Insurance Corporation (LIC) of India here on Tuesday towards the annual premium for Rythu Bima, farmers’ group life insurance scheme, for the year 2021-22. Over 41.58 lakh eligible farmers are covered under the scheme for 2021-22. The insurance coverage under the scheme commences from August 14 and ends on August 13 next year with a premium of nearly ₹3,487 per farmer, including GST and stamp duty. All farmers with landholding (pattadar passbook) in the age group of 18 to 59 years would be covered under the insurance scheme with a claim of ₹5 lakh in the event of death of an insured farmer, irrespective of the cause. Ministers K.T. Rama Rao, S. Niranjan Reddy, P. Sabitha Indra Reddy, A. Indrakaran Reddy, P. Ajay Kumar and G. Jagadish Reddy, Chief Advisor to Government Rajiv Sharma, Principal Secretary (Finance) K. Ramakrishna Rao and Secretary (Agriculture) M. Raghunanadan Rao handed over the cheque to representatives of LIC.
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