Crop Insurance Policy - A Customized Solution For Your Livelihood

Information about Crop Insurance Policy - A Customized Solution For Your Livelihood

Published on July 10, 2014

Author: sahildoshi

Source: authorstream.com

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Crop Insurance Policy - A Customized Solution For Your Livelihood : Crop Insurance Policy - A Customized Solution For Your Livelihood Overview: Overview Among popular insurance policies, crop insurance is specifically designed for those people whose jobs related to agriculture. This policy is a source of gaining attractive benefits at affordable cost. Read on to know more about this particular insurance policy. Agriculture has a pivotal role to play in Indian economy. livelihood of major chunk of people in the country is completely dependent on it. In fact, it is a principal source of income for many people in India. But do you know even a minor dip in the agricultural production drips down the growth of economy, and affects people's life. The agricultural production is merely affected by several critical conditions, including variations in weather, pest attacks, rainfall, humidity temperature, etc. The major concern for agricultural-based people is to secure the output of their cultivation. Crop Insurance: Crop Insurance To help farmers and secure save their hard-earned money many insurance companies in India offer comprehensive yield-based crop insurance policy. They design this policy keeping in mind the production risks faced by the agricultural sector. It is one of the insurance plans which covers any shortfall in production due to storm, hailstorm, lighting, natural fire, cyclone, tempest, typhoon, hurricane, tornado, landslide, drought, dry, pests, spells, and so on. Policy Features : Policy Features Insurance companies in order to provide maximum benefits to the insured persons, target some particular group or institution for this insurance plan etc. Not a businessman or government employee can opt for crop insurance. One who are eligible for this policy are farmers, banks, financial institutions, or to those companies that extend credit facility for agricultural operations or those whose payments are badly affected by yield factors. Policy Premium : Policy Premium Unlike other insurance policies, premium for crop policy is lower and affordable. It is chargeable. However, premium chargeable is dependent on many factors, which include location, type of crop, historical yield data, calamity years in the specified region and the protection level of yield crop. Documents Required: Documents Required For people's convenience, leading insurance company requires minimal document from customers. Mainly, there are two documents required by the insurers. These documents are Land record document (for the standing crop against which insurance is taken) and a photo ID proof. Claim Process: Claim Process It is important to know that the claim under this policy is estimated based on the crop cutting experiment which is done in the insured area. Your insurance company may take individual' assessment for ascertaining loss at pre-sowing and post harvest positions. For your easy and comfort service, your insurance company gives you round the clock support. In case of claim under crop insurance policy, you can contact the company's on its customer support number. You can also write a letter to the company, addressing the claim manager of the firm. You will all contact detail at the home page website of the insurance firm. Claim Documents Required: Claim Documents Required Almost every leading general insurance company requires the same documents such as duly completed claim form, record of your land according to government norms, and issued certificate from certifying body which is nominated by Government or authorized by your insurance firm. Besides this, you also need to have two photographs of loss or damaged incurred area of insured crop which proves the loss under the policy. Overall, if agriculture plays viral role in country's economic, then crop insurance plays a significant role for agricultural firm. If you are dependent on farming, you should crop insurance policy. It is a customized solution for your whole family. Source: http://www.hdfcergo.com/rural-insurance/crop-insurance.html

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