Ever thought of becoming a recipient of 6 lakh insurance cover at a yearly payment of just Rs 27?

Well, yes. Rajasthan government is showering its farmers with this unbelievable benison. Nearly 7 lac farmers who have taken crop loan from a cooperative bank are eligible for insurance cover.

Rajasthan government has raised the insurance amount by one lakh in the present fiscal year in the “Raj Sahakar personal accident insurance scheme”. This boost in insurance cover amount is aimed at expanding its target reach. Rajasthan targets to cover more than 25 lakh farmers.

Last year, the insurance amount was Rs 5 lakh and 23.31 lakh farmers were covered with the insurance. More than 25 lakh farmers will be covered under the insurance scheme of Rs 6 lakh.

Ajay Singh Kilak, cooperative minister of Rajasthan said, “Rajasthan is the first state in the country which is providing high insurance cover in very nominal premium. We target to cover more than 25 lakh farmers with the scheme this financial year.”

As per the assessment of the state cooperative department, Haryana is providing Rs 50,000 insurance cover, Madhya Pradesh Rs 2 lakh, Gujarat Rs 4 lakh and Punjab Rs 5 lakh insurance cover.

Punjab is charging Rs 110 as a yearly premium for an insurance cover of Rs 5 lakh whereas Gujarat is charging Rs. 44 as yearly premium.

The Central Cooperative Bank and the Rajasthan State Cooperative Bank will give Rs 13.50 each along with Rs 27 from the farmer which will add up to the total premium to the insurance company.

The cooperative department is providing this facility to other account holders of cooperative banks also on annual premium of just Rs 54.

On the permanent disability of one eye, arm or leg, the insured farmer will get Rs 3 lakh. In cases of permanent disability of any two limbs or on death in accident, the individual is entitled to get Rs 6 lakh.

The government has fixed a target of 15 thousand crore for the distribution of interest-free crop loan for farmers in the current fiscal.