Learn How to Get Farmer's Insurance? 2019

The Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced on 14th January 2016, in a move to reduce agricultural distress and farmer's welfare without affecting hefty hikes in the Minimum Support Prices (MSP) of agricultural products prices due to Monsoon fluctuations. Risks The PMFBY Scheme operates on the basis of 'Area Approach' ie, Defined Areas for each notified crop for widespread calamities.

Learn How to Get Farmer's Insurance? 2019

Benefits of insurance:

Clam for failure to sow crops / germination due to low rainfall or adverse weather.
Claims at the farm level if damaged due to waterlogging, aerial lightning, landslides, cloud bursting and hail.
Claims at farm level of damage caused by cyclone / cyclonic rainfall / seasonal rainfall up to 7 days after harvest.
Final claim settlement based on the final yield of entire village / gram panchayat / block.


Borrowers: All farmers who have taken short term loan from Co-operative Bank or Samiti / KCC card holders who have an approved limit for the season will be covered essentially on the basis of land and crop recorded in the record. "If any other crop is sown by the farmer or the area of ​​land is different, you should contact your bank branch before the cut off date so that the right crop / land premium can be taken."

Non-free: All other farmers, affiliates / tenants can also get crop insurance through their nearest bank branch / CSC center / authorized insurance agent before the cut off date with the following documents:

Copy of Savings Account Passbook
Copy of the base number.
Copy of Land Document.
Land description and self proclaimed declaration of crop sowing.
Any other documents required / specified by the State Government.
Claim: For claim at the farm level you must make a claim in the insurance company / bank / agriculture department or toll free number within the next 72 hours. The claim will be deposited directly into the account on the basis of the use of crop harvesting at the village panchayat / notified level.

Providing financial support to farmers suffering crop loss / damage due to unforeseen events
Stabilizing the income of farmersEncouraging farmers to adopt innovative and modern agricultural practicesEnsuring flow of credit to the agriculture sector
Three levels of indemnity 70, 80 and 90Sum Insured to scale of finance
The scheme envisages many new things such as utilizing innovative technologies like satellite imagery, vegetation indices, etc. Coupled with the mandatory usage of smartphones / handheld devices for increasing speed and accuracy during yield estimation.

Digitization of CCEs including geo-tagging, date-time stamping and photographs
Single series data for production estimates and insurance
Access to Insurance Company for Co-observation of CCEs
Written information about IC about CCE schedule by State Govt.
Usage of RST, Drone and mobile technology to aid CCEs and yield assessment

Season Crops Maximum Premium Payable By Farmer (% of Sum Insured) *
Kharif all food grain and oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops) 2.0% of SI or Actuarial rate, whichever is less
Rabi All Food Grain and Oilseeds Crops (All Cereals, Millets, Pulses and Oilseeds) 1.5% SI or Actuarial Rate, whichever is less
Kharif and Rabi Annual Commercial / Annual Horticultural Crops 5% of SI or Actuarial Rate, whichever is less
Perennial horticultural crops (pilot basis) 5% of SI or Actuarial rate, whichever is less
To Calculate Premium Visit https://pmfby.gov.in/ and click Insurance Premium Calculator.

Rabi 2016-17: Districts and Crops covered by PMFBY Scheme under Shriram General Insurance.

All farmers including sharecroppers and tenant farmers in the notified fields are eligible for coverage. However, farmers should have insurable interest for the notified / insured crops. The non-loanee farmers are required to submit required documentary evidence of land records in the State (Records of Right (RoR), Land possession Certificate (LPC) etc.) and / or applicable contract / agreement details / other documents notified / approved by concerned State Government (in case of sharecroppers / tenant farmers).

Compulsory Component: All farmers availing Seasonal Agricultural Operations (SAO) loans from Financial Institutions (i.e. loanee farmers) for the notified crop (s) will be covered compulsorily. Voluntary Component: The Scheme would be optional for non-loanee farmers.

Crop Coverage: The crops that are covered under the PMFBY scheme are mentioned below.
1) Food crops (Cereals, Millets and Pulses)
2) Oilseeds
3) Annual Commercial / Annual Horticultural crops.

PMFBY scheme under Risk Coverage:
a) Prevented Sowing / Planting Risk: When the insured area is prevented from sowing / planting due to deficient rainfall or adverse seasonal conditions, claims up to 25% of sum insured are payable to the farmers.
b) Standing Crop (Sowing to Harvesting): Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks (Drought, Dry spells, Flood, Inundation, Pests and Diseases, Landslides, Natural Fire and Lightenin

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