Thrust Areas Insurance

Insurance

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

      Coverage:
      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 are covered. In case of vegetables and tuber crops coverage is provided only for natural calamities.

      Premium:
      • Banana - Rs. 5.00/ plant(Rs 2.5/plant VFPCK and Rs 2.5/farmer)
      • Vegetables and tuber crops - Rs. 6.00/ cent / season(Rs 1.00 / cent VFPCK and Rs 5.00/cent farmer)


    Compensation payable for Vegetables
    (Rs. 400 for pandal crops, Rs.350 for non- pandal crops /cent /season)
    Crop
    Period (days)
    Compensation (Rs)
    Pandal Non pandal
    Vegetables 15 - 40
    41 – 60
    61 – 75
    76 – 90
    91 - 120
    100
    200
    400
    200
    100
    87.5
    175
    350
    175
    87.5
    Tubers(Amorphophallus,
    colocasia,yams & tapioca)
    2- 5 months

    more than 5 - 10 months

     

    350


    175


    Compensation payable for Banana
    Cause
    Age of Banana Crop
    ( 2 months & above )
    Unbunched
    (Rs./plant)
    Bunched
    (Rs./ plant)
    Natural calamity /
    wild animal (Elephant, Boar) attack
    60
    85
    Kokkan disease & Pseudostem borer attack
    35
    50
     


  3. Gramin Suraksa Micro Insurance Policy (GSMIP):
  4. A unique health insurance scheme for farmers implemented in association with National Insurance  Company Ltd. Low premium and quick claim settlement are the major features of the scheme.

      Premium: Rs. 550/- per family

      Maximum compensation: Rs.10, 000/-




  5. Jeevan Raksha Policy (JRP):
  6. 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.

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

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

How to apply for an Insurance Scheme?

VFPCK Insurance scheme exclusively for VFPCK member farmers and for application of the scheme , contact vfpck District Offices .