Please enter your Keyword for Search


    1. Pradhan Mantri Fasal Bima Yojana (PMFBY)

    The Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced on 14th January 2016, in a move aimed at reducing agricultural distress and farmer’s welfare without having to affect hefty hikes in the Minimum Support Prices (MSP) of agricultural products prices due to Monsoon fluctuations induced risks The PMFBY Scheme operates on the basis of ‘Area Approach’ i.e., Defined Areas for each notified crop for widespread calamities.

    2. Objective

    It aims at supporting sustainable production in agriculture sector.

     

    1. Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events

    2.  Stabilizing the income of farmers to ensure their continuance in farming

    3.  Encouraging farmers to adopt innovative and modern agricultural practices

    4. Ensuring flow of credit to the agriculture sector, which will contribute to food security, crop diversification and enhancing growth and competitiveness of agriculture sector besides protecting farmers from production risks.

    3. Crop Coverage

    The crops that are covered under the PMFBY scheme are mentioned as below.

    1) Food crops (Cereals, Millets and Pulses),

    2) Oilseeds

    3) Annual Commercial / Annual Horticultural crops.

    4. Eligibility Criteria

    All farmers including sharecroppers and tenant farmers growing the notified crops in the notified areas are eligible for coverage. However, farmers should have insurable interest for the notified/insured crops.

    4.1 Compulsory component

    All farmers having been sanctioned Seasonal Agricultural Operations (SAO) loans from Financial Institutions (i.e. loanee farmers) for the notified crop(s) season would be covered compulsorily.

    4.2 Voluntary Component

    The Scheme is optional for non-loanee farmers.

    5. Coverage of Risks and Exclusions

    Following stages of the crop risks leading to crop loss are covered under the Scheme

    5.1. Prevented Sowing/Planting/Germination Risk

    Insured area is prevented from sowing/ planting/germination due to deficit rainfall or adverse weather conditions 

    5.2. Standing Crop

    Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, viz. Drought, Dry spell, Flood, Inundation, Pests and Diseases, Landslides, Fire due to natural causes ,Lightening, Storm, Hailstorm and Cyclone 

    5.3. Post-Harvest Losses

    Coverage is available only upto a maximum period of two weeks from harvesting, for those crops which are required to be dried in cut and spread condition in the field after harvesting against specific perils of cyclone, cyclonic rains and unseasonal rains.

    5.4. Localized Calamities:

    Loss/damage to notified insured crops resulting from occurrence of identified localized risks of hailstorm, landslide, inundation, cloud burst and natural fire due to lightening affecting isolated farms in the notified area

    6. General Exclusions:

    Losses arising out of war and nuclear risks, malicious damage and other preventable risks shall be excluded

    7. Premium Rates and Premium Subsidy

    A low farmer premium rate is charged and subsidy is provided by State & Central Govt. The rate of premium payable by the farmer will be as per the following table:

     

    Season

    Crops

    Maximum Premium payable by farmer (% of Sum Insured)*

           Kharif

    All food grain and Oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops)

     2.0% of SI or Actuarial rate, whichever is less

           Rabi

    All food grain and Oilseeds crops (all Cereals Millets, Pulses and Oilseeds crops)

     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

     

    8. Adoption of Technology-

    In an endeavour to integrate Technology in implementation and execution of the Scheme, the Govt. of India has designed and developed a National Crop Insurance Portal. States adopt the technology, such as satellite and UAV remote sensing, for various applications such as resolution of area discrepancy and yield disputes and also promote the use of remote sensing and other related technology for Crop Cutting Experiment planning, Yield estimation, loss assessment, assessment of prevented sowing and clustering of districts.

    9. Increased Farmer Awareness

    To increase the farmer coverage under this PMFBY scheme, efforts are made to create farmer awareness by using various marketing techniques so that maximum number of farmers can enroll and avail benefits of the scheme.

    10. Better Coverage

    Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at covering the losses suffered by farmers due to reduction in crop yield as estimated by the local appropriate government authorities.

    The scheme also covers pre sowing losses, post-harvest losses due to cyclonic rains and losses due to unseasonal rainfall in India. There is a provision to cover losses due to localized calamities such as inundation also in addition to the previously covered hailstorm and landslide risks.

    11.Business Statistics

    Revised Premium Table

     

    Insurance Company

    Season

    Year

    State

    No. of Farmers Insured

    Paid Claims (Lakhs)

    Tata AIG

    Kharif

    2016

    Bihar

    208712

    2672

    Tata AIG

    Kharif

    2016

    Karnataka

    657458

    48301

    Tata AIG

    Kharif

    2017

    Odisha

    713750

    42743

    Tata AIG

    Kharif

    2017

    Uttar Pradesh

    393844

    5559

    Tata AIG

    Rabi

    2017-18

    Karnataka

    257

    0

    Tata AIG

    Rabi

    2017-18

    Uttar Pradesh

    425268

    2209

     

    12. Contact details

    Toll Free Number- 1800-209-3536

    e-mail : customersupport@tataaig.com

    Uttar Pradesh-UP.CropclaimIntimation@tataaig.com;

    Telangana- Telangana.CropclaimIntimation@tataaig.com

    Rajasthan- Rajasthan.CropclaimIntimation@tataaig.com

    PAN India- CropClaimIntimation@tataaig.com

     

    Click here for policy wording of PMFBY 

    To buy Crop Insurance, visit Govt. of India website of Pradhan Mantri Fasal Bima Yojana- https://pmfby.gov.in/





    Terms of Use | Privacy | Sitemap | Brokers | Tata Group | AIG | Chartis | Tata AIA Life Insurance | IRDA CEW | US Visitor Visa | Tata Medical Center | Insurance Institute of India

    2008, Tata AIG General Insurance Company Limited, all rights reserved.

    Registered Office : Peninsula Business Park, Tower A, 15thFloor, G.K.Marg, Lower Parel, Mumbai-400 013, Maharashtra, India. CINNumber : U85110MH2000PLC128425.

    Registered with IRDA of India Regn. No. 108. Insurance is the subject matter of the solicitation.

    For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

    Toll Free Number : 1800 266 7780 / 1800 22 9966 (only for senior citizen policy holders). Email Id –customersupport@tataaig.com. Fax Number – 022 66938170