The finance minister, Mr. Pranab Mukherjee, has directed Life Insurance Corporation of India (LIC) to design a life insurance scheme for farmers on the lines of Janashree Bima Yojana, a social security scheme.
This new scheme will be called Kisan Bima Yojana. In this scheme life cover will be extended up to the age of 65-70 years.
The additional premium will be borne by farmers covered under the scheme.
On the coverage of farmers under agriculture insurance, Mr. Pranab Mukherjee said that number of non-loanee farmers has been coming down over the years. He said that Agricultural Insurance Company of India Ltd should work to bring not only all loanee farmers under cover but as many non-loanee farmers as possible. He said that this group is the most marginalized group requiring agricultural insurance and they should be covered on priority basis.
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