*KCC Holders to Get Personal Accident Insurance Cover of up to Rs 50,000*

 

*Around 5 lakh Kisan Credit Card holders to benefit*

 

 Chandigarh, October 5- The Haryana State Cooperative Apex Bank Limited (HARCO Bank) has implemented the Personal Accident Insurance Scheme (PAIS) for Kisan Credit Card (KCC) holders with the objective of providing financial protection against risks arising from accidental death and permanent disability caused by accidents. For the year 2026-27, around 5 lakh eligible KCC holders will be provided an insurance cover of Rs 50,000 for a period of one year under the scheme.

In this regard, a meeting was held on Monday under the chairmanship of Managing Director, HARCO Bank, Sh. Sushil Sarwan. The initiative has been undertaken in line with the vision of Chief Minister Sh. Nayab Singh Saini and Cooperation Minister Dr Arvind Sharma for the welfare of farmers and strengthening of the cooperative sector.

For the year 2026-27, HARCO Bank has signed agreements with Central Cooperative Banks and IFFCO-Tokio General Insurance Company Limited for arranging insurance coverage under the Personal Accident Insurance Scheme. Under the scheme, around 5 lakh KCC holders are proposed to be provided with an insurance cover of Rs 50,000 for a period of one year.

Under the scheme, in the event of death due to an accident caused by external, violent and visible means, an insurance cover of Rs 50,000 will be provided (during the one year of the agreement). Similarly, an insurance cover of Rs 50,000 will be provided in case of total permanent disability.

In case of loss of both limbs, both eyes, or one limb and one eye, an insurance cover of Rs 50,000 will be provided. In case of loss of one limb or one eye, an insurance cover of up to Rs 25,000 will be available.

*Bank to bear major share of premium*

Under the scheme, each KCC holder will be provided insurance coverage at a total premium of Rs 1.90. Of this, Rs 1.27 will be borne by the bank, while the KCC holder will have to pay only Rs 0.63. Thus, farmers will get insurance protection against financial risks arising from accidents at a very nominal premium.

*Accident to be reported within 120 days*

Under the scheme, the concerned insurance company must be informed within 120 days of the occurrence of an accident for submission of an insurance claim. The claim will have to be accompanied, as applicable, by necessary documents including the police report, post-mortem report, details of the legal heir and documents related to the bank account.