Animal Insurance Scheme: Big news for farmers, If you pay only Rs.190, you will get Rs.15 thousand in your account

The government has announced a new insurance scheme for farmers, particularly beneficial to dairy farmers, with substantial subsidies and benefits. Here is a breakdown of the scheme:

Highlights of the insurance plan:

Insurance Coverage:

• Dairy cattle, sheep, goats, pigs and other livestock are eligible under this scheme.
• Compensation up to ₹6,000 for loss of livestock.
• For premium payments of ₹960, farmers can get insurance coverage worth ₹15,000 for their cattle.

Subsidies to SC/ST Farmers :

• Farmers belonging to Scheduled Caste (SC) and Scheduled Tribe (ST) categories get subsidies.
• SC/ST farmers pay only ₹192 for insurance coverage of ₹15,000. The remaining amount is subsidized by the government.
• Ration card holders also get a discount and pay just ₹480.

Additional insurance for high-breed cattle:

• The government provides insurance up to ₹30,000 for high-breed cattle.
• SC/ST farmers are eligible for an 80% subsidy and others get a 50% subsidy on insurance premiums.
• For insurance coverage above ₹30,000, farmers will have to pay an additional premium but will receive a 50% discount for three years.

Documents Required for Insurance:

• Bank account book
• Aadhaar Card
• White Ration Card (For SC/ST Farmers)
• How to claim insurance:
• Farmers should inform the staff of their nearest Rythu Seva Kendra as soon as the cattle die.
• Cattle should not remove ear tags until insurance personnel have conducted their survey.
• If the insured animal is sold, the insurance company must be notified within seven days to transfer the policy to the buyer’s name.

Benefits to Farmers:

• By paying a small amount (as low as ₹190 for SC/ST farmers), they can get a compensation of ₹15,000 if their livestock dies.
• The scheme protects dairy farmers from financial losses due to cattle deaths.
• This initiative ensures that farmers, especially those belonging to SC/ST communities and holders of ration cards, get maximum financial protection at minimum costs. The scheme is expected to provide a strong safety net to dairy farmers across the country.