Accident cover scheme gets good response from farmers

RAJASTHAN IS THE FIRST STATE IN INDIA, WHICH PROVIDES ₹5 LAKH ACCIDENTAL INSURANCE TO FARMERS AT ₹27 ANNUAL PREMIUM

JAIPUR: More than 1.8 million farmers in Rajasthan have joined over the past five months the Raj Sahakar Vyaktigat Durghtana Bima Yojana, the government’s ₹5 lakh accident insurance scheme that comes at a token premium of ₹ 27 a year.

Rajasthan is the first state in India, which provides ₹5 lakh accidental insurance to farmers at ₹27 annual premium under RSVDBY. The insured amount was increased from ₹ 3 lakh to ₹ 5 lakh this June, said a state cooperative department statement that released the number of farmers who joined the scheme.

“We wish to enroll 25 lakh farmers with the accident insurance scheme. Soon the insurance cover will be increased to ₹10 lakh so that the farmer and his family get wider financial support,” chief minister Vasundhara Raje promised.

The scheme, mandatory for farmers taking loan under the Kisan credit card, covers crop loan in case of poor harvest and natural calamity. For permanent disability of hands, eyes, legs or in case of accidental death, the farmer will get ₹5 lakh.

Besides a farmer’s contribution, the Central Co-operative Bank will give₹13.50 and Rajasthan State Co-operative Bank Ltd will give ₹13.50 as premium.

About 3 million of the state’s estimated 4 million farmers depend on farm loans. The insurance scheme is meant to cushion debt-laden farmers struggle to repay their loans during crop failure or damage because of unseasonal rains and drought.

A cooperative department official said Rajasthan provides the highest insurance cover at the lowest premium. The Punjab too offers ₹ 5 lakh, but the premium is ₹ 110.