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|
Note: 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
Level 1: You may reach to us using our Farmitra Mobile App or can call us on 1800-209-5959
Level 2: E- Mail: firstname.lastname@example.org
Level 3: Grievance Officer: It is our constant endeavor to resolve customer's concerns promptly. In case you are not satisfied with the response given to you by our team, you may write to our Grievance Redressal Officer Mr. Jerome Vincent at email@example.com
Level 4: If in case, your grievance is not resolved and you wish to talk to our care specialist, please give a missed on +91 80809 45060 OR SMS <WORRY>To 575758 and our care specialist will call you back
Please allow our service network sufficient time to work on your concern. We believe in ‘Caringly Yours’ and we assure you that every employee of this company stands firmly with this promise.
If after having followed level 1, 2, 3 and 4 your issue remains unresolved, you may approach the Insurance Ombudsman for Redressal. Kindly find your nearest Ombudsman office at https://www.cioins.co.in/Ombudsman
Click here for details of our District Officers.
Click here to get details for your nearest Agri Insurance Office.
Shravan Kumar Jhanghee
This year there was immense hailstorm, but thankfully I am covered with Pradhan Mantri Fasal Bima Yojna and BAGIC did a brilliant job in paying my claims. It was settled in a quick and hassle free manner directly in my bank account.
Prem Singh Jalore, Rajasthan
I intimated BAGIC on Farmitra for inundation within TAT. Their response was very quick and they have done survey on 5th day of the intimation. I am very happy with our response.
Prashant Subhashrao Deshmukh Hingoli, Maharashtra
Thank you Bajaj Allianz GIC, for helping the farmers like me who really want protection from these various agricultural risks.
Insurance is a tool to protect you and your assets against a small probability of a large unexpected loss. Insurance is not to make money but to help compensate an individual or business for unexpected losses that might otherwise cause a financial disaster. Basically it’s a technique of providing people a means to transfer and share risk where losses suffered by few are met from the funds accumulated through small contributions made by many who are exposed for similar risks.
Crop insurance is an arrangement aimed at mitigating the financial losses suffered by the farmers due to damage and destruction of their crops resulting from various production risks.
Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in agriculture sector through insuring their crop production at predefined level for specific Insurance Unit.
Weather Based Crop Insurance aims to mitigate the hardship of the insured farmers for financial loss in account of anticipated crop loss resulting from incidence of adverse weather conditions like rainfall, temperature, frost, humidity, wind speed, cyclone etc.
It covers major crops of the specific insurance unit e.g. a. Food crops includes Cereals, Millets and Pulses, b. Oilseeds and c. Annual Commercial/Horticultural crops etc.
a. Sum Insured per hectare for both loanee and non-loanee farmers will be same and equal to the Scale of Finance as decided by the District Level Technical Committee, and would be pre-declared by SLCCCI and notified. No other calculation of Scale of Finance will be applicable. Sum Insured for individual farmer is equal to the Scale of Finance per hectare multiplied by area of the notified crop proposed by the farmer for insurance. ‘Area under cultivation’ shall always be expressed in ‘hectare’. b. Sum insured for irrigated and un-irrigated areas may be separate
It depends on crop lifecycle and respective state Government’s notification.
It depends on crop lifecycle and respective state Government’s notification.
There are 12 leading companies in crop insurance as follows:
i. Agriculture Insurance Company
ii. Cholamandalam MS General Insurance Company
iii. Reliance General Insurance Co. Ltd.
iv. Bajaj Allianz General Insurance Co. Ltd.
v. Future General India Insurance Co. Ltd.
vi. HDFC ERGO General Insurance Co. Ltd.
vii. IFFCO Tokio General Insurance Co. Ltd.
viii. Universal Sompo General Insurance Company
ix. ICICI Lombard General Insurance Co. Ltd.
x. Tata AIG General Insurance Co. Ltd.
xi. SBI General Insurance
xii. United India Insurance Co.
The Actuarial Premium Rate (APR) would be charged under PMFBY by implementing agency (IA). The rate of Insurance Charges payable by the farmer will be as per the following table:
|Season||Crops||Maximum Insurance charges payable by farmer (% of Sum Insured)|
|Kharif||All food grain and Oilseed crops (Cereals, Millets, Pulses and Oilseeds)||2.0% of SI or Actuarial rate, whichever is less|
|Rabi||All food grain and Oilseed crops (Cereals, Millets, Pulses and Oilseeds)||1.5% of SI or Actuarial rate, whichever is less|
|Kharif and Rabi||Annual Commercial / Annual Horticultural crops||5% of SI or Actuarial rate, whichever is less|
RISKS: Following risks leading to crop loss are to be covered under the scheme: -
a. YIELD LOSSES (standing crops, on notified area basis): Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, such as (i) Natural Fire and Lightning (ii) Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado etc. (iii) Flood, Inundation and Landslide (iv) Drought, Dry spells (v) Pests/ Diseases etc.
b. PREVENTED SOWING (on notified area basis):- Insurance cover will be provided to farmers in case of widespread incidence of eligible risks affecting crops in more than 75% of area sown in a notified unit, this cover is available only for notified major crops and eligible farmers will be paid 25% of sum insured as a claim.
In cases where majority of the insured farmers of a notified area, having intent to sow/plant and incurred expenditure for the purpose, are prevented from sowing/planting the insured crop due to adverse weather conditions, shall be eligible for indemnity claims up to a maximum of 25% of the sum-insured
c. POST-HARVEST LOSSES (individual farm basis): Coverage is available up to a maximum period of 14 days from harvesting for those crops which are kept in “cut & spread” condition to dry in the field after harvesting, against specific perils of cyclone / cyclonic rains, unseasonal rains throughout the country.
d. LOCALISED CALAMITIES (individual farm basis): Loss / damage resulting from occurrence of identified localized risks i.e. hailstorm, landslide, and Inundation affecting isolated farms in the notified area.
EXCLUSIONS: Risks and Losses arising out of following perils shall be excluded: - War & kindred perils, nuclear risks, riots, malicious damage, theft, act of enmity, grazed and/or destroyed by domestic and/or wild animals, In case of Post–Harvest losses the harvested crop bundled and heaped at a place before threshing, other preventable risks.
Written By : Bajaj Allianz - Updated: 1st March 2022
I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.
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