ARIYALUR: Agriculture Insurance Company of India Ltd. has invited applications from farmers who have not obtained crop loans for availing themselves of the benefit of the Central Government’s subsidy-linked crop insurance scheme meant for paddy cultivators in the samba season.
In a communication, S. Suryanarayanan, Administrative Officer of the Company’s Chennai Office, said farmers could insure their crop for 10,000 per acre by making a one-time payment of Rs. 225 that accounts for just 20 per cent of the premium amount of Rs. 1,096. The rest is subsidy.
The farmers will be entitled to the insured amount in the event of losses due to heavy rainfall, low rainfall or drop in yield.
The compensation will be based on the data generated by automatic weather stations installed at block-level till January 31, 2009. The loss incurred over the subsequent 45 days will be compensated. The insured amount will be credited into the accounts of the farmers.
Application forms could be obtained from the nearest Agricultural Offices and Cooperative Banks.
Filled forms must be submitted before October 20 in the nationalised banks where the farmers hold accounts.
For further information, Mr. Suryanarayanan could be contacted over phone numbers: 99403 26750 or 94437 80661.