The man planned his own murder so that his family can get the insured amount (Representational)

A man in Rajasthan's Bhilwara got himself murdered so that his family members could claim Rs 50 lakh insurance he had bought and spend the rest of their life in comfort.

Balbir Kharol, 38, a money lender, took the decision not because he was debt-ridden, but because he failed to recover money from people who had taken loans from him, according to police.

The two accused, Rajvir Singh and Sunil Yadav, who were arrested on Monday for killing Kharol, revealed during interrogation that the money lender was initially considering to orchestrate his own death in an accident but was doubtful he might survive, Superintendent of Police Harendra Mahawar told PTI on Tuesday.

"This is very unusual thing, but this is what the murder accused have revealed," the SP said.

Balbir Kharol had lent nearly Rs 20 lakh to different people but was unable to recover the amount. For the last six months, he did not receive any payment, Mr Mahawar said.

He then planned his own murder so that his family can get the insured amount and lead an easy life, the officer said.

Balbir Kharol had bought the insurance policy from a private bank a month ago and paid the first premium. He then hired the accused and promised to pay them Rs 80,000 for executing the murder, the SP said.

As per the plan, on September 2, Balbir Kharol made an advance payment of Rs 10,000 to the two men and went with them to an isolated place. He told them that he had kept rest of the amount in his pocket, which they can take after murdering him, the officer said.

When they reached the decided place, one of the accused tied Balbir Kharol's hands and legs with a rope and the other strangled him, police said.

He said the accused were arrested on the basis of Balbir Kharol's call details and a CCTV footage.

Balbir Kharol is survived by his wife, children and parents.