Crops Covered Under PMFBY
The Actuarial Premium Rate (APR) is charged under PMFBY. This rate is applied on the Sum Insured. The maximum premium rate payable by the farmers under this scheme is determined using the following table:
|Season||Crops||Maximum insurance charges payable by farmer|
|Kharif||All food grains and oilseed crops||2% of Sum Insured|
|Rabi||All food grains and oilseed crops||1.5% of Sum Insured|
|Kharif and Rabi||Annual Commercial / Annual Horticultural crops
Perennial Horticultural Crops (Pilot Basis)
|5% of Sum Insured|
Remaining premium will be paid equally by the State and Central Government.
The claim process for Pradhan Mantri Bima Yojana with us, at Bajaj Allianz, is quick and easy.
There is no need for the insured farmer to intimate the insurance company losses due to prevented sowing, as this will be a widespread calamity and assessment is based on area approach. This benefit is triggered when majority of farmers are unable to sow their crop because of weather conditions. The details are as below:
This cover pays for the shortage in yield of the insured crop compared to Threshold Yield (TY) on area approach.
This cover is to provide immediate relief to farmers in case of any widespread calamity or adverse season, wherein the expected yield during the season is likely to be less than 50% of normal yield.
For the current year we are implementing the PMFBY in the states of Chhattisgarh, Haryana, Karnataka, Maharashtra and Rajasthan. We are also implementing Restructured Weather Based Crop Insurance Scheme for Horticulture crops in the State of Chhattisgarh.
Click here for the list of States and Districts serviced by us for Kharif and Rabi 2021.
CLAIMS SETTLEMENT SUMMARY AS ON DATE : 30TH JUNE 2021
||Claims Paid (In Crore Rs.)|
MH KH 19 – Claims :
MH RB 19 – Claims :Click here
In case of any grievances related to PMFBY, you may reach us using our Farmitra Mobile App or can call us on 1800-209-5959, or alternatively write to us on the below ID's:
Mr Ravindra Sharma , Vertical Head - Agri Tech Projects and Customer Experience
Mr. Anjani Kumar Rai, National manager – Agri Business
Click here for details of our District Officers.
Written By: Bajaj Allianz - Updated: 17th June 2021