Livestock Insurance Scheme
The centrally Sponsored Livestock Insurance Scheme was implemented in the year 2006-07. The implementation of the scheme took place in 100 selected districts Now the scheme has spread out all the more and now is being run regularly in 300 selected districts of the country.
Objectives:
The introduction of the Livestock Insurance Scheme to make people popular with the two objectives, the protection of the loss due to the death of the animals and the livestock animals, and the benefits of livestock insurance and to make it popular with livelihood and the ultimate goal of quality development of their products. Was done for
- This scheme is being implemented by the concerned State Livestock Development Board in all the states except Goa.
- Indigenous / hybrid milk cattle and buffaloes will come under the scope of the scheme. Apart from milking and feeding buyers, the pregnant cattle, which have given birth to at least a calf, will be included.
- Such cattle that are covered under any other insurance scheme or scheme will not be included in this scheme.
- The benefit of the grant is to limit each beneficiary to 2 animals and one animal is insured for maximum 3 years.
- Farmers will be encouraged to take a policy of three years, which can be useful in getting the real benefit of insurance if the natural disasters like floods and droughts occur. However, if a farmer wants to take a policy of less than three years, then he will also be given it and he will be provided a grant on the premium for re-insurance when the scheme is implemented the following year of the same cattle.
- Any animal will be insured on its maximum market value. The market value that is insured is done by the beneficiary, authorized veterinarian and insurance agent in a joint form.
- At the time of claim of insured animal insured, he has to be identified in an accurate and unique way. Hence marking in the ear should be secured in every possible manner. When taking the policy, the technical marking used in the ear or recent microchip technology should be used. The cost of applying the identification mark will be borne by the insurance company and the responsibility of maintaining it will be of the respective beneficiaries. The nature of the marking and its content is selected by the consent of both the insurance company and the beneficiary.
- In case of sale of animal or other type of transfer, if the term of insurance policy has not expired, then the benefit of the remaining period of the insurance policy will be transferred to the new owner. The manner of livestock policy and the necessary sales letters for the fee and the transfer should be decided at the time of the contract with the insurance company.
Benefits of the Scheme
If the claim for this scheme remains, then within 15 days of depositing the required documents, the sum insured should definitely be paid. For the execution of claims by insurance companies, only four documents will be required, such as the first information report, insurance policy, claim form and introspection report to the insurance company. While assessing the animal, the Chief Executive Officer ensures that a clear procedure for the settlement of the claim should be made and a list of necessary documents should be prepared and it should be made available to the beneficiaries of the list along with the policy forms.
Animals included in the scheme:
Country / Horticulture will be brought under the periphery of cattle and buffalo scheme. Apart from milking and feeding buyers, the pregnant cattle, which have given birth to at least a calf, will be included. Such cattle that have been covered under any other insurance scheme or any other scheme will not be included in this scheme.
Selection of Beneficiaries:
Benefits of Grant Each beneficiary has been restricted to two animals and one animal is insured for maximum 3 years. However, if a farmer wants to take a policy of less than three years, then he is given that too.
Determination of market value of animals:
An animal is insured on its maximum market value. The market value that is insured is done by the beneficiary, authorized veterinarian and insurance agent in a joint form.
Identification of insured animals:
At the time of claim of insured animal insured, it must be identified in an accurate and unique way. Hence marking in the ear should be secured in every possible manner. When taking the policy, the technical marking used in the ear or recent microchip technology should be used. The nature of the marking and its content is selected by the consent of both the insurance company and the beneficiary.
Change of ownership in the validity period of insurance:
In case of sale of animal or other type of transfer, if the term of the insurance policy has not expired, then the benefit of the remaining period of the insurance policy will be transferred to the new owner. The manner of livestock policy and the necessary sales letters for the fee and the transfer should be decided at the time of the contract with the insurance company.
Claim settlement:
If the claim remains, then the payment of the sum insured is paid in fifteen days of the submission of the necessary documents. For the execution of claims by insurance companies only four documents are required, such as the first information report, insurance policy, claim form and introspection report to the insurance company.
Contact Details: NA
Reference Link:
http://dahd.nic.in/related-links/livestock-insurance-0
Conclusion:
While assessing the animal, the Chief Executive Officer ensures that the clear procedure for the settlement of the claim should be made and a list of the necessary documents should be prepared and it should be made available to the beneficiaries of the list along with the policy forms.
Under the scheme, the indigenous / hybrid milk cattle and buffaloes are insured on their maximum current market value. Premium of insurance is up to 50 percent. The full cost of the grant is borne by the Central Government. The benefit of the grant is to get maximum of two cattle per beneficiary for a maximum of three years policy.
