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Agri Insurance

Potato Crop Insurance

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Salient features of this Policy

1.  Unique parametric insurance based on named perils linked to plant population

2.  Available for potato growers contract farming in the potato growing areas

3.  Maximum liability is Rs. 25,000 per acre

4.  Based on partnership model of “grower – producer – financier – insurer”

This insurance policy is applicable to Potato crop cultivated by the farmers in different Potato growing parts of the country.


Scope of Cover

This is an input cost cover starting from a week after planting till 7 days before harvesting. The insurance is by way of indemnity against pecuniary loss suffered by the insured in respect of the cost of inputs on account of the loss or damage (death/ total damage of the plants leading to reduction of the plant population below the threshold number) due to the happening of the insured perils. It shall not apply to the loss of yield/production of potato crop resulting from the insured perils. The policy shall cover and indemnify the insured (in accordance with the claim assessment procedure) in the event of damage of potato crop leading to reduction of plant population below a threshold limit, occasioned by natural calamities like Flood, Cyclone, Storm, Frost and Pest & Diseases (except Late Blight) etc. either in isolation or concurrently during the period of insurance.


Claim Procedure

On happening of any loss or damage, the insured shall give notice to the company within 48 hours (directly or through the financing bank or through the participating organization) and subsequently shall submit a claim in writing within 15 days after loss or damage. The insured shall tender to AIC all reasonable information, assistance and proofs in connection with any such claim. The total cost of inputs per unit area of insurance covered under this Policy shall be deemed to be the amount as specified in the policy, which shall be deemed to have been incurred at a percentage corresponding to the stage of cultivation. The amount of loss assessable under this policy shall be such sum as is arrived at after applying the percentage of death/ damaged plants per acre to the amount of the cost of inputs per acre, at the stage at which the insured peril causing the loss operates, subject to the terms, conditions, salvage, excess and any other deductions.

The insured shall be required to furnish proof of

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Livestock Insurance Scheme

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The Livestock Insurance Scheme, a centrally sponsored scheme, which was implemented on a pilot basis during 2005-06 and 2006-07 of the 10th Five Year Plan and 2007-08 of the 11th Five Year Plan in 100 selected districts. The scheme is being implemented on a regular basis in 300 districts of the country.

The Livestock Insurance Scheme has been formulated with the twin objective of providing protection mechanism to the farmers and cattle rearers against any eventual loss of their animals due to death and to demonstrate the benefit of the insurance of livestock to the people and popularize it with the ultimate goal of attaining qualitative improvement in livestock and their products.

Under the scheme, the indegenous / crossbred milch cattle and buffaloes are being insured at maximum of their current market price. The premium of the insurance is subsidized to the tune of 50%. The entire cost of the subsidy is being borne by the Central Government. The benefit of subsidy is being provided to a maximum of 2 animals per beneficiary for a policy of maximum of three years.

The scheme is being implemented in all states except Goa through the State Livestock Development Boards of respective states.

Animals to be covered under the scheme and selection of beneficiaries

  • The indigenous/crossbred milch cattle and buffaloes will be under the purview of the scheme. Milch cattle/buffalo will include both in-milk and dry as well as pregnant animal, which have already calved once.
  • Animals covered under any other insurance scheme/plan scheme will not be covered under this scheme.
  • Benefit of subsidy is to be restricted to two animals per beneficiary and is to be given for one time insurance of an animal up to a maximum period of three years.
  • The farmers will have to be encouraged to go for a three-year policy which is likely to be more economical and useful for getting the real benefit of insurance on occurrence of natural calamities like flood and drought etc. However, if a farmer desires to have a policy for a period less than three years that could also be provided and subsidy on premium will be provided for insuring same animals again in the future years of implementation of the scheme.

Determination of market price of the animal

An animal will be insured for the maximum of its current market price. The market price of the animal to be insured will be assessed jointly by the beneficiary, authorized veterinary practitioner and the insurance agent.

Identification of insured animal

The animal insured will have to be properly and uniquely identified at the time of insurance claim. The ear tagging should, therefore, be fool proof as far as possible. The traditional method of ear tagging or the recent technology of fixing microchips could be used at the time of taking the policy. The cost of fixing the identification mark will be borne by the Insurance companies and responsibility of its maintenance will lie on the concerned beneficiaries. The nature and quality of tagging materials will be mutually agreed by the beneficiaries and the Insurance Company.

Change of owner during the validity period of insurance

In case of sale of the animal or otherwise transfer of animal from one owner to other, before expiry of the Insurance Policy, the authority of beneficiary for the remaining period of policy will have to be transferred to the new owner. The modalities for transfer of livestock policy and fees and sale deed etc required for transfer, should be decided while entering into contract with the insurance company.

Settlement of Claims

In case of claim becoming due, the payment of insured amount should be made within 15 days positively after submission of requisite documents. Only four documents would be required by insurance companies for settling the claims viz. FIR with the Insurance Company, Insurance Policy, Claim Form and Postmortem Report.While insuring the animal, CEOs must ensure that clear cut procedures are put in place for settlement of claims and the required documents are listed and the same is made available to concerned beneficiaries along with the policy documents. All documents/forms for insuring as well as settling the claims should be made available by the insurance agency in local language and English language.



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Credit Support

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VFPCK credit package is a collaborative effort to support commercial fruit and vegetable sector in Kerala. The package is implemented in association with 11 leading commercial banks such as:

  1. State Bank of India
  2. State Bank of Travancore
  3. Canara Bank
  4. Union Bank of India
  5. South Malabar Gramin Bank
  6. North Malabar Gramin Bank
  7. Indian Overseas Bank
  8. Bank of Baroda
  9. Indian Bank
  10. Dhanalakshmi Bank
  11. Vijaya Bank.

  • Salient feature of VFPCK credit package:
    • Farmers are involved in all stages from credit planning to repayment.
    • Provide credit availability also to lease land cultivators.
    • Quick disbursement of credit within10 days of application.
    • VFPCK staff assists in screening and monitoring genuineness.
    • Beneficial to all stakeholders.
    • Automatic credit linked insurance for crops.
    • Peer pressure and campaigns for better repayment.

  • Package implementation schedule:
    • SHG formation
    • Training on credit package
    • Participatory credit planning
    • Joint inspection
    • Credit appraisal, sanction and delivery
    • Repayment
    • Renewals

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    VFPCK - Insurance Packages

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    For the benefit of member farmers, VFPCK implement various insurance packages in association with insurance agencies. The various packages are: 

    • · 1. Crop insurance package:
      VFPCK has designed a crop insurance package for its participating farmers for protecting farmer as well as the banker from uncertainties that arises during the cultivation period. VFPCK had made a tie up with United India Insurance Company Ltd. for insurance coverage of banana, vegetables and tuber crops. Crops covered are all banana varieties, vegetables (pandal and non-pandal) and tuber crops (amorphophallus, colocasia, yams and tapioca) cultivated by participant farmers of VFPCK.

    Insurance coverage is provided against total loss or damage to banana plants due to natural calamities like fire, flood, inundation, storm, drought, cyclone, tornado, tsunami, frost, heavy wind, tempest, land slide, rock slide, earthquake, riot, strike, forest fire and bush fire. Damage by wild animals (wild elephant & wild boar), Kokkan disease and Pseudostem borer attack is also covered. In case of vegetables and tuber crops coverage is provided only for natural calamities.


      • Banana - Rs. 3.50/ plant
      • Vegetables and tuber crops – Rs. 4.25/ cent / season

    Compensation payable for Banana


    Age of Banana Crop 
    ( 2 months & above )


    (Rs./ plant)

    Natural calamity / 
    wild animal (Elephant, Boar) attack



    Kokkan disease & Pseudostem borer attack



    Compensation payable for Vegetables
    (Rs. 300 for pandal crops, Rs.250 for non- pandal crops /cent /season)





    15 - 45 days
    46 - 90 days
    91 – 120 days


    colocasia,yams & tapioca)

    2 – 5 months 

    more than 5 – 10 months



    • · 2. Karshaka Raksha Policy (KRP):
      An unique health insurance scheme for farmers implemented in association with The New India Assurance Company Ltd. Low premium and quick claim settlement are the major features of the scheme.


      • Rs. 130/- per adult (15-65 years)
        [After VFPCK subsidy of Rs. 20/ adult]
      • Rs. 53/- for child (< 15 years)
        [After VFPCK subsidy of Rs. 7/ child]

    Maximum compensation: Rs.10, 000/- per adult, Rs. 5,000/- per child

    • · 3. Jeevan Raksha Policy (JRP):
      Life insurance scheme for farmers are also implemented in association with LIC of India. In addition to low premium and quick claim settlement, provision of scholarships for children of insured farmers is the major features of the scheme.


      • Total premium: Rs. 200/-
      • Government of India subsidy: Rs. 100/-
      • VFPCK subsidy Rs. 50/-
      • Farmer contribution: Rs. 50/-


      • Normal death: Rs. 30,000/-
      • Partial disability: Rs. 37,500/-
      • Accidental death: Rs.75, 000/-
      • Permanent disability: Rs. 75,000/-

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    National crop insurance scheme

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    The objectives of the scheme are as under: -

    1. To provide insurance coverage and financial support to the farmers in the event of natural calamities, pests & diseases.

    2. To encourage the farmers to adopt progressive farming practices high value in-puts and higher technology in Agriculture.

    3. To help stabilize farm incomes, particularly in disaster years.

    Salient features of the scheme: -

    1. Crops covered:-

    The crops in the following broad groups in respect of which i) the past yield data based on Crop Cutting Experiments (CCEs) is available for adequate number of years, and ii) requisite number of CCEs are conducted for estimating the yield during the proposed season:

    a. Food crops (Cereals, Millets & Pulses)

    b. Oilseeds

    c. Sugarcane, Cotton & Potato (Annual Commercial/annual Horticultural crops)

    Other annual Commercial/annual Horticultural crops subject to availability of past Yield data will be covered in a period of three years. However, the crops which will be covered next year will have to be spelt before the close of preceding year.

    2. States and areas to be covered:

    The Scheme extends to all States and Union Territories. The States/Uts opting for the Scheme would be required to take up all the crops identified for coverage in a given year.

    Exit clause: The States/Union Territories once opting for the Scheme, will have to continue for a minimum period of three years.

    3. Farmers to be covered:

    All farmers including sharecroppers, tenant farmers growing the notified crops in the notified areas are eligible for coverage.

    The Scheme covers following groups of farmers:

    a. On a compulsory basis: All farmers growing notified crops and availing Seasonal Agricultural Operations (SAO) loans from Financial Institutions i.e. Loanee Farmers.

    b. On a voluntary basis: All other farmers growing notified crops (i.e., Non-Loanee farmers) who opt for the Scheme.

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