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Most Popular Policies of AIC Of India Ltd

  • National Crop Insurance Programme
    Government of India launched a farmer friendly crop insurance plan called National Crop Insurance Program.
    Key features of National Crop Insurance Program
    • Liability of claim available
    • Easy settlement of claim
    • Coverage available for loss of harvest
    • Experiments regarding crop-cutting is covered
  • Varsha Bima / Rainfall Insurance Plan
    The Rainfall Insurance is a weather insurance policy designed for the farmers to give them financial coverage against rain-affected crops.
    Key features of Rainfall Insurance Plan
    • It helps mitigate the adverse effect of rainfall
    • Transparent plan with flexible premium
    • Quick claim settlement
    • Inexpensive plan
  • Pulp Wood Tree Insurance Policy
    This India Government initiated crop insurance plan is crafted for those farmers who grow various pulp wood trees.
    Key features of Pulp Wood Tree Insurance Policy
    • Coverage available for total loss
    • Partial losses are also covered
    • Complete protection against natural calamities
    • Policy tenure can be extended to 5 years
  • Bio-Fuel Tree/Plant Insurance Plan
    This insurance plan covers those farmers in India that help produce bio-fuels.
    Key features of Bio-Fuel Tree/Plant Insurance Plan
    • Payment of total sum assured if crop gets damaged
    • Coverage available for all natural risks
    • Optional extension of policy period up to 5 years
    • Optional coverage against drought available

Weather Insurance (RABI)

A large number of farmers get affected when the weather conditions get adverse and affect their crops. Thanks to the Weather Insurance (RABI), the farmers can breathe peacefully now. This scheme is aimed at protecting the farmers against the losses of crops occurred due to adverse deviations in weather conditions and some natural calamities occurring due to weather.

Key features of Weather Insurance (RABI):

  • Protection against Adverse Weather Parameters:

    Between the months of December and April, the crops are highly sensitive and if the weather shows some adverse deviations, they might be ruined partially or completely. However, with the Weather Insurance (RABI), farmers can be secured that the loss they face due to adverse weather conditions would not be taken by them alone and the insurance companies would provide them the required financial support.

  • Major Crops Insured:

    All the major crops would be insured under this scheme, including wheat, barley, potato, gram, mustard and so on.

  • Speedy Settlement:

    it would take a maximum of 6 weeks to settle the claims between the farmers and the insurance company, once the insurance period has started.

Variations of the Scheme depending upon the Kharif and the Rabi Seasons:

Name of the Criteria

Kharif Season

Rabi Season

States Covered

The states of Karnataka and Maharashtra are covered under the Kharif season

The states of Haryana, Uttar Pradesh and Rajasthan are covered under the Rabi season.

Crops covered

The crops grown in kharif season such as rice bajra, ragi, soyabean, cotton, jowar, maize, groundnut etc. are covered under the kharif season.

The crops grown in the rabi season such as wheat, gram, barley, coriander, mustard, potato etc. are covered under the rabi season.

Perils Covered

The kharif perils that are covered under the Weather Insurance (RABI) include excess of rainfall or the deficit of rainfall and other rainfall related perils.

The rabi perils that are covered under the Weather Insurance (RABI) include rains, frost, too much of humidity, solar radiations that harm the crops, wind and some others.

Cut-off dates for notification

For kharif season, it is around February that notifications are issued.

For rabi season, it is around October that notifications are issued.

Frequently Asked Questions

  • Which states are most affected?

The most affected states due to adverse weather conditions include Uttar Pradesh, Rajasthan, Madhya Pradesh, Haryana, Punjab and Maharashtra. So, the farmers in these regions must go for the Weather Insurance (RABI).

  • Which are the most vulnerable crops that need the Weather Insurance (RABI) cover?

The most vulnerable crops include gram, wheat, masoor, mustard, barley, potato and coriander and if you are growing one of these crops, it is recommend to go for Weather Insurance (RABI) as soon as possible.

  • Who can buy the Weather Insurance (RABI)?

All the farmers including the small ones and the marginal ones and the tenants and the sharecroppers can buy this insurance scheme.

  • What would be the period of insurance?

Generally, the period of the insurance would be from December month of the current year to the April month of the following year.