Leaflets - English - Final

8/9/2019 Leaflets - English - Final

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Agriculture Insurance Company of India Limited (established by Government of India) is exclusively

implementing the National Agricultural Insurance Scheme (NAIS) across the country NAIS is a 'area

yield guarantee' crop insurance scheme and the unit of insurance may be district, mandal, block,

nyay panchayat, gram panchayat, village etc as notified by the State Government.

All farmers including sharecroppers, tenant farmers growing the notified crops in the notified

unit areas are eligible for coverage

Scheme is available for all farmers; compulsory for loanee farmers and voluntary for non-loanee farmers

Sum Insured for the loanee farmers to be at least equal to the amount of crop loan

advanced. For the non-loanee farmers, the Sum Insured may extend to the value of

guaranteed yield of the insured crop, at the option of the farmers

The farmers (both loanee and non-loanee) may also insure their crops above the value of

guaranteed yield up to 150% of value of the average yield of the notified area

Salient features of the Scheme

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SOCHO BIMA FASAL KI, SOCHO HAMESHA AIC

lR;es o t;rswww.aicofindia.com

National Agricultural Insurance Scheme


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Agriculture Insurance Company of India Ltd.Regd. Off.: "Ambadeep" (13th Floor), 14, Kasturba Gandhi Marg, New Delhi-110001

Ph.: 91-11-46869800, Fax : 91-11-46869815, E-mail : [email protected] Website : www.aicofindia.com

For Grievance Redressal, please log on to http://www.aicofindia.com/AICEng/Pages/Grievance_Home.aspx

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Insurance coverage available for cereals & millets (Paddy, Wheat, Mize, Jowar, Bajra etc),

Pulses (Green gram, Black gram, Red gram, Gram, Lentil etc), Oilseeds (Groundnut, Soya

bean, Mustard etc) and Annual Commercial & Horticultural Crops (Sugarcane, Potato,

Onion, Chilly, Ginger etc)

The applicable premium rates for all the insured Food Crops & Oilseeds are highlysubsidized and fixed by the Government of India. The premium is further subsidized to the

extent of 10% for Small and Marginal farmers

If the season's average yield per hectare of the insured crops falls below the guaranteed yield

for the insurance unit, all the insured farmers growing that crop in the defined areas are

eligible for claims

Settlement of claims based on yield data obtained through stipulated number of Crop

Cutting Experiments, furnished by the State Government

Claim to eligible insured farmers are routed through the banks. The insured farmers need not

to lodge for any claim

The loanee farmers availing loans for notified crops are automatically insured under the

Scheme by the banks, while the non-loanee farmers are required to insure their crops

through nearest service bank branch


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Weather Based Crop Insurance Scheme (WBCIS)

Salient features

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Parametric insurance product designed to provide insurance protection against lossesin crop yield resulting from adverse weather incidences. Providing payouts against

adverse rainfall incidence (both deficit & excess) during Kharif and adverse incidence

in weather parameters like frost, heat, relative humidity, un-seasonal rainfall etc.

during Rabi Seasons

All cultivators including sharecroppers, tenant farmers growing the notified crops in

any notified reference unit area (RUA) in the pilot areas are eligible for coverage

Compulsory for loanee farmers and voluntary for non-loanee farmers

Sum Insured is pre-declared per unit area (broadly equelent to cost of cultivation of thecrops)

Premium is subsidized by central and state Government up to 50%.

The insured cultivators become eligible for payout if the ‘Actual Weather’ recorded at

an RWS during the specified time period shows deviation as compared to the specified

‘Trigger Weather’ payouts normally within 45 days from the end of the insurance/

risk period.

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National Crop Insurance Programe


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MODIFIED NATIONAL AGRICULTURALINSURANCE SCHEME (MNAIS)

Main features

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In case Majority farmers of an area are prevented from sowing / planting due to deficit

rainfall or adverse seasonal conditions, such insured farmers may be eligible for

indemnity. The indemnity payable would be a maximum of 25% of the sum-insured.

In case of localized risks, viz. hailstorm and landslide, the claims will be assessed on

individual basis. For other calamities the assessment will be on the basis of ‘area

approach’.

In case of adverse seasonal conditions during crop season, an account payment ofclaim amount up to 25 percent of likely claims may be released in case losses are

likely to be more than 50%.

At the end of the season, claims shall be assessed on the basis of yield data submitted

by the State Govt based on requisite number of Crop Cutting Experiments (CCEs).

Post-harvest coverage is available for those crops, which are allowed to dry in the field

up to 14 days after harvesting due to cyclone in coastal areas, resulting in damage to

harvested crop.




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Crops covered :

Farmers eligible :

Sum Insured :

Claim payment :

How to get insurance :

All food crops (cereals, millets, Pulses), oilseeds and annual commercial

horticultural crops.

All farmers including sharecroppers, tenant farmers growing the

notified crops in the notified areas are eligible for coverage. All farmers availing Seasonal Agricultural Operations (SAO) loans from Financial

Institutions (i.e. loanee farmers) would be covered compulsorily. The Scheme is optional

for non-loanee farmers.

In case of Loanee farmers, the Sum Insured would be at least equal to the

amount of crop loan sanctioned. For Non loanee farmers the sum insured would be the

value of threshold yield.

Farmers, at their option, can get their crops insured beyond value of threshold yield up to

150% value of average yield; however, subsidy would not be available on this additional

coverage.

The farmers shall have to intimate losses to be assessed on individual

basis, within specified time however the losses on area approach shall be automated and

farmers need not to lodge any claim for claims on area approach basis.

The loanee farmers shall be covered compulsorily by the

concerned bank branch / PACS. The non loanee farmers can get insurance by filling in a

simple proposal form and submitting the same in the bank branch / PACS where he has an

account or through empaneled intermediary.

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About 80% of the world’s energy requirements are met by fossil fuel which is depleting day

by day due to increase in demand. This has led us to explore alternative energy sources,

the most promising amongst which are bio-fuels. To promote this environment friendly

fuel, the government is giving various incentives and subsidies to Bio-fuel tree/plant

growers to attain the energy security.

This insurance scheme is applicable to Bio-fuel tree / plant growers and producers, whose

produce/ yields are likely to be affected by the specified perils. The trees / plants covered

under the policy are: Jatropha curcas (Jatropha), Pongamia pinnata (Karanja),

Applicability

BIO-FUEL TREE / PLANT INSURANCE

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Unique named peril insurance covering as many as six different tree / plant species,

including Jatropha

Provides for optional cover against drought riskMaximum liability is linked to cost of cultivation & age of trees / plants and varies from

species to species



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Azadirachta indica (Neem), Bassia latifolia (Mahua), Callophyllum inophyllum (Polanga)

& Simarouba glauca (Paradise Tree).

The policy shall cover and indemnify the insured against pecuniary loss suffered by theinsured in respect of cost of inputs on account of the total loss or damage to the trees/

plants occasioned by natural calamities like Flood, Cyclone, storm, Frost and Pest &

diseases etc., either in isolation or concurrently. Total loss shall mean loss or damage to

individual Bio-fuel plant or entire plantation or part thereof leading to death of the plant

or making the plant economically unproductive.

Sum insured is based on cost of inputs per unit area of insurance covered which willdepend on nature of tree / plant and age of tree / plant. Sum Insured is broadly equivalent

to input cost, and can extend up to 125% / 150% of the input cost

The Policy period is annual, with a provision to go for policy of 3 or 5 years duration.

On occurrence of any insured perils leading to the total loss of damage to the plant/plants the insured has to submit the claim form to Agriculture Insurance Company of

India Limited (AIC). AIC shall send a licensed surveyor along with an Agriculture Expert to

the field for assessing the loss to facilitate claim processing. For the purpose of claims,

death / totally damaged plants making the plant economically unproductive shall be

considered as loss under the policy. Decline and / or retardation of growth shall not be

deemed as loss.

Scope of Cover

Sum Insured

Period of insurance

Loss Assessment Procedure

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COCONUT PALM INSURANCE SCHEME

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Coverage

Insurance of Coconut Palm

In collaboration with Coconut Development Board, a comprehensive coconut life

insurance product.Insurance based on Named perils leading to death /permanent damage to coconut palm

Maximum liability is based on age of coconut palm and discounted future value

Coconut is the leading plantation crop of India grown mostly in the coastal areas. Every

part of coconut has use – coconut water, coconut oil, copra, cake, raw kernel, toddy, shell

based products, wood based products, and coconut leaves, etc. Coconut occupies

dominant position with cultivated area of nearly 2 million hectares, producing

over 12 billion nuts per annum. Coconut is vulnerable to weather factors, particularly

cyclone winds, gales etc. besides pests & diseases.

The insurance cover shall cover damage / losses to coconut palm arising out of non-

preventable natural factors.

The insurance compensates the insured in the event of total loss of the individual

palm/tree in the insured plantation from the 4th year to the 60th year. In the first year, a




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waiting period of three months from the date of transplanting shall apply. The insurance

coverage and claim assessment shall be on individual tree basis. The insurance is against

perils like Storm, Hail storm, Cyclone, Typhoon, Tornado, Heavy rains, Flood, Inundation,

severe drought, Fire, Lightning, Earthquake, Landslide, Riot, Strike and Pests & Diseases of

widespread incidence. Applicability : Minimum trees to be covered – 10 healthy nut bearing palms

Age Group: (1) 4 years to 60 years for dwarf and hybrid trees (2) 7 years to 60 years

for tall tree.

For fixing premium rates and sum insured the age groups are split into two - 4 years to

15 years & 16 years to 60 years

Sum insured and Premium :

4 years to 15 years Rs. 600 per palm Rs. 4-25 per palm

16 years to 60 years Rs. 1150 per palm Rs. 5-75 per palm

No service tax on premium

Premium subsidy: 50% by Coconut Development Board, 25% by concerned State

Govt., 25% by farmer. If State Govt does not agree for premium subsidy farmer has to

pay full premium.

Waiting period: Loss/death of palms within 30 days of inception of insurance, claim is

not payable under the scheme. However, this condition is applicable in case of

renewal of insurance, without time gap.

Claim assessment & settlement procedure :

(a) Loss to palm to be intimated within 7 days

(b) Loss certification is required as mentioned in the scheme.

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Sum Insured Premium

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RAINFALL INSURANCE SCHEME - COFFEE (RISC)

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Coverage

Provides protection against failure of Blossom Showers & Backing Showers and excess

rainfall during Monsoon & Post Monsoon rainfall

Available in the coffee growing areas of Karnataka, Kerala & Tamil Nadu and coversboth Robusta & Arabica

Allows for speedy settlement of claims, say within 4 – 6 weeks after the insurance period

is over.

(i) Coffee Rainfall insurance is a unique rainfall insurance product designed in consultation

with Coffee Board, Central Coffee Research Institute and coffee growers of the states of

Karnataka, Kerala and Tamil Nadu.

(ii) The rainfall insurance provides effective risk management aid to those coffee growers

likely to be impacted by adverse rainfall incidence.

Agriculture Insurance Company of India Ltd. compensates the insured against the

likelihood of diminished coffee output/yield resulting from shortfall / excess in the actual

rainfall (as the case may be) for different coverage options.



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Period of Insurance: The insurance operates during 1st March to 31st August. The periods

under different coverage are as follows:

Blossom Shower : 1st March to 15th April/ 30th April/ 15th May.

Backing Shower : 18th day from fulfillment of Blossom Shower till 35th day.

Monsoon Shower : 1st July to 31st August

Post Monsoon - a) 1st November-31st December (Arasica)

b) 1st December-28th February (Robasta)

Period of insurance under each coverage option is to be specified separately for each

zone/ rain gauge station area.

In the event that, in the geographical location and during the time period specified in the

Schedule to this policy for different options, the Actual Rainfall is deficit / excess compared

to the specified trigger level, the benefit payable to the insured shall be a sum specified

corresponding to the trigger level, subject to maximum of the Sum Insured specified under

various options of the Schedule.

Claims are automated; and will be settled on the basis of actual rainfall data received

from the concerned agencies/ institutions. Claims when become payable, will be paid at

a uniform rate to all the insured growers in the coffee zone.

Coffee Board provides premium subsidy upto 50% of premium for growers with

plantation size upto 10 hectares.

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How claims become payable

Claim Documentation

Premium Subsidy

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RABI WEATHER INSURANCE

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Weather Insurance :

Provides protection against adverse deviations in a range of weather parameters like

frost, heat, relative humidity, rainfall etc. between December and April

Generic insurance product insuring crops like wheat, potato, barley, mustard, gram

etc.

Allows for speedy settlement of claims, say within 4 – 6 weeks after the insurance

period.

Wheat, Mustard, Gram, Potato, Masoor, Barley and Coriander are the major Rabi season

crops mostly in the states of UP, MP, Maharashtra and Rajasthan. These crops are

extremely vulnerable to weather factors, such as excess rainfall, frost, and fluctuation in

temperature etc.

(Rabi) is a mechanism for providing effective risk management aid

to those individuals and institutions likely to be impacted by adverse weather incidences.

The most important benefits of Weather Index Insurance are:



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Coverage

Period of Insurance :

Claim Procedure Note

Trigger events like adverse weather events can be independently verified and

measured.

It allows for speedy settlement of indemnities, as early as a fortnight after the

indemnity period. All growers, be it Small /Marginal; Owners or tenants/Sharecroppers can buy this

Weather Insurance.

Agriculture Insurance Company of India Limited (AIC) shall compensate the insured, against

deviation in weather parameter from pre defined weather triggers.

The insurance operates during the months of December to April. However

the period is different for different parameters and crops.

Claims are automated; and will be settled on the basis of actual weather data received from the

concerned agencies/ institutions as applicable to each crop separately. Claims when become

payable, will be paid at a uniform rate to all the insured growers in the area (jurisdiction of

reference weather station) growing the insured crop.






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PULPWOOD TREE INSURANCE

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Scope of Cover

This insurance scheme is applicable to Pulpwood tree growers and producers, whose

produce/ yields are likely to be affected by the specified perils. The product shall be

offered for Pulpwood trees in specific geographic locations with adequate infrastructure

and facilities to grow the crop. The trees covered under the policy are:

Eucalyptus

Poplar

Subabul

Casuarina

The policy shall cover and indemnify the insured against pecuniary loss suffered by the

insured in respect of cost of inputs (agreed value) on account of the total loss or damage



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to the trees occasioned by specified perils/risks like Fire, Flood, Cyclone, storm, Frost and

Pest & diseases etc., either in isolation or concurrently. Total loss shall mean loss or

damage to individual Pulpwood plant or entire plantation or part thereof leading to death

of the plant or making the plant economically unproductive.

Sum Insured is based on cost of inputs (agreed value) per unit area of insurance covered

which will depend on nature of tree, age of tree. Sum Insured is broadly equivalent to

input cost, and can extend up to 125% / 150% of the input cost at the discretion of the

insurer.

The Policy period is annual, with a provision to go for policy of up to 5 years duration.

The insurance product is available through the existing network of AIC. Individual growers

can directly purchase the policy from AIC or from authorized individual / corporate

agents.

Sum Insured

Period of insurance

How to avail insurance






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RUBBER PLANTATION INSURANCE

Scope of Coverage

Risks Covered by the Scheme

The rubber plantations are exposed to perils like fire, lightning, forest fire, bush fire, flood,

storm, tempest, inundation, land slide, rock slide, earthquake, drought etc. The

peculiarity of rubber plantations is that if a few trees in a holding is damaged or perished,

that particular patch of land cannot be used till the time the entire trees are cut and the

area replanted.

The scheme will be applicable to both mature and immature plantations. The policy will

be issued for a period of 7 years from the last day of the month of planting for immature

plants. Compensation will be available from the second year onwards, which is

calculated on the basis of ‘replacement cost of the plant plus present value of future

returns arising out of the loss / death of the plant’. For mature plantations cover will beprovided for blocks of 3 / 2 / 1 year(s) from the 8th year of planting. Compensation is

calculated the same way as for the immature plantations.

Fire, Lightning, Riot, Strike & Malicious Damage, Bush Fire, Forest Fire, Flood, Storm,

Tempest, Inundation, Land Slide, Rock Slide, Earthquake and Drought provided the Block



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/ Taluka concerned is declared as drought affected by the competent authority of the State

Government. The policy is also extended to cover the loss or damage caused by road/rail

vehicles and wild animals.

Seven years from the last day of the month of planting for immature plantations and in

blocks of 3 / 2 / 1 year(s) each from the 8th year onwards upto 25 years for mature

plantations.

In the case of destruction of 75% of trees and above per hectare, the loss will be treated as

total and the insured will be paid compensation as per the enclosed chart for the

damaged trees. Compensation for the remaining unaffected trees in the affected holding

will be paid on production of a certificate from the Rubber Board / Surveyor certifying that

the balance 25% trees have been cut and that the entire land is ready for re-planting.

Period of Insurance

Total Loss

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Leaflets - English - Final