New Delhi, June 3 (UNI) Tractor manufacturer Escorts Ltd today said its unit has tied up with New India Assurance Company to provide personal accident cover to farmers on purchase of company's tractors.
''Humrakshak provides insurance cover ranging from Rs three lakh to seven lakh for all farmers whose tractors have been purchased from May 1, 2008 onwards,'' a company statement said.
This initiative covers all Escorts tractor brands-Powertrac (PT), Farmtrac (FT) and Escort.
Under the policy, in the event of a farmer's death or permanent disability, he will be entitled to a cover amount linked to the tractor model purchased by them. Escorts tractors ranging from 40-60 HP, 35-39HP and 27-34HP will carry a cover of Rs seven lakh, Rs five lakh and Rs three lakh respectively, for one year from the date of delivery.
Escorts had set up the strategic Agri Machinery Group (AMG) to venture into tractors in the year 1960.
Presently, the company is a leading player in the domestic and international markets and sells over 50,000 tractors annually. On the international front, AMG caters to 41 countries across the globe.
UNI MP SR ND2002