Agricultural Insurance Scheme in India

 Agricultural Insurance Scheme in India

Agriculture in India is suffering from many causes such as drought and floods. The Government of India yesterday introduced a number of insurance schemes to protect farmers from such natural calamities and to cultivate their next crop.

Has declared that it can insure against losses incurred after harvest.

Crops that have been submerged by rain floods are also insured.

In the previous agriculture plan, the Government of India had declared the insurance scheme only for the coastal areas affected by the cyclone but now the scheme is available for all areas.

Under the old insurance scheme farmers had to wait for years to get insurance. But now the Government of India has announced that waiting only 35 to 45 days is enough to get insurance within that.

Up to 25% of the total insurance cover will be provided in case of crop attack due to natural calamities such as air pests in the intervening period after harvest. The insurance plan will then be provided even after the harvest.

Home insurance plan

Nowadays many people take out a bank loan to fulfill their dream of owning a home. They have to pay monthly installments to the bank so that if they have any mishap in the interim during this payment then this insurance will help.

People in the bank would ask their wives and children to pay off the balance when they could not afford to pay off the debt.

Similarly, this insurance will not only help the borrower in the event of an accident but will also help in the event of a number of problems such as natural disasters such as fires, storms and earthquakes.

There is no accident until the loan is taken and if there is no accident to the house then everyone will have the question of whether we can get a refund on the insurance plan we have built up but now the insurance plan refund facility is offered as insurance of two categories as non-refundable facility.

If we have a withdrawal facility, the premium film I have built will come to us. For this, the people in the bank pay interest etc.