Pradhan Mantri Fasal Bima Yojana
PMFBY is A government crop insurance scheme that provides financial support to farmers suffering crop loss/damage arising out of unforeseen circumstances. It aims to ensure the stabilization of income for farmers to aid their continuance in agriculture.
- Get coverage against standing crops, prevented sowing, localised calamities and post-harvest losses
- Coverage for food crops (Cereals, Millets and Pulses),Oilseeds and Annual Commercial / Annual Horticultural crops.
- Yield-based coverage
Frequently Asked Questions
1. How can I apply for the insurance?
2. What are the crops covered in the scheme?
3. How do I download Kshema app?
4. What are the documents required to apply for this policy?
5. Where I can get a sowing certificate?
6. What perils are covered?
The risks covered will be based on the notification released by the state government.
This insurance scheme provides basic coverage to indemnify any losses emerging for to Yield Loss. The Yield loss (for Standing Crop) is computed on an Area Approach basis.
The other add-on coverages which a State Government may opt for and notify are the following:
- Prevented/Failed Sowing / germination failure
- Mid-Season Adversity
- Localized Risks
- Post Harvest Losses
In the case of Localised Risk Claims and Post harvest Losses, the insured is required to give an intimation to the insurance company on the losses faced and report to the Insurance company within 72 hours of the event taking place.
7. What is the sum insured?
8. What are the Premium Rates charged under this scheme?
The Actuarial Premium Rate (APR) would be charged under RWBCIS by implementing agency (IA). The rate of Insurance Charges payable by the farmer will be as per the following below:
- Kharif and Rabi (Annual Commercial / Annual Horticultural crops) 5% of SI or Actuarial rate, whichever is less.
- Kharif – All foodgrain and Oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops) 2.0% of SI or Actuarial rate, whichever is less
- Rabi -All foodgrain and Oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops)1.5% of SI or Actuarial rate, whichever is less
9. How is the assessment of claim done?
If the actual yield per hectare of insured crops for the insurance unit (calculated on the basis of requisite no. of CCEs) in insured season falls short of specified Threshold yield, all insured farmer in that defined area and crop are deemed to have suffered shortfall in yield.
‘Claim’ shall be calculated as per the following formula:
(Threshold Yield – Actual Yield)
———————————————————— X Sum Insured
Threshold Yield
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