Fasal Bima Yojana If you are also associated with farming, then you should be aware that if the crop gets damaged due to the weather, then your loss will be fully compensated. For this crop insurance scheme has been started.
PM Fasal Bima Yojana: The occupation of most of the people of India is still agriculture. Even after so much development of technology, most of the farmers depend on rain. In such a situation, due to sudden heavy rains, drought, storm or any other kind of natural calamity, there is a danger of damage to the crops. The farmers have to bear the entire loss of this.
Pradhan Mantri Fasal Bima Yojana ( PM Fasal Bima Yojana) has been started to save the farmers from financial losses due to these uncertainties , which provides financial assistance to them in this situation.
What is Pradhan Mantri Fasal Bima Yojana (PMFBY)
Farmers suffer a lot due to conditions like rain, temperature, frost, moisture etc. To avoid this, the farmer gets the facility to get his crop insured by paying very little money under the Pradhan Mantri Fasal Bima Yojana. Under insurance coverage, if the insured crop is destroyed, then the insurance company is responsible for its full compensation. Food crops (cereals, millets and pulses), oilseeds and annual commercial/annual horticulture crops are covered under this insurance.
How can apply?
Farmers can get insurance of any bank to apply under Pradhan Mantri Fasal Bima Yojana. For this, they just have to go to the bank and fill a form and then their crops are insured. However, farmers have to submit their land and other documents to the bank.
On the other hand, if the farmers have already got any kind of loan or credit card, then they can get insurance under Pradhan Mantri Fasal Bima Yojana from that bank itself.
How to get insurance claim?
To claim the Pradhan Mantri Fasal Bima Yojana, the farmers first have to inform the agriculture department about crop damage within 72 hours. After that you have to apply. The reason for crop damage, which crop was sown, the area in which the crop has been damaged, all these details have to be given in the form. They also have to give information related to the land. In addition, a photocopy of the insurance policy is required.
After a few days of applying, the representative of the insurance company and the employees of the agriculture department inspect the farm and assess the damage and if everything is found correct, the full insurance claim is deposited in the bank account of the farmer.
Read More : Home Loan Insurance: What is Home Loan Protection? Know how you can take advantage of it
Don’t ignore these things
In the initial days of Pradhan Mantri Fasal Bima Yojana, it was made mandatory for all farmers, but later this rule was removed. Now farmers can get insurance under this scheme on their own free will. However, despite reducing the risk level, the scheme is not gaining much popularity among the farmers.
The reason behind this is that there is no separate policy for risk taking farmers and non risk taking farmers. Also, the insurance premium is not fixed properly, due to which the rates may vary from bank to bank. Due to these reasons, the crop insurance scheme is not able to win the trust of Indian farmers.
