"Spending a whole day looking for insurance is fun," said nobody, EVER!

Rashtriya Krishi Bima Yojna Plan

This particular plan was launched in the year 1999-2000 to protect farmers in case of failure of their crops. Farmers who have not yet availed any loan can purchase this plan. However, this scheme is compulsory for farmers who have availed loans of some form.
 4.5 / 5.0   by 17448 users
Used this product? Write a review >>

Fees & Charges

Promised Interest Rate

Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

 Among the more successful national insurance schemes targeted to safeguard crops, the Rashtriya Krishi Bima Yojna was introduced by the government in the year 1999-2000 and was designed to protect the farmers against failure of their crops. These crops included but were not limited to Wheat, Barley, Maize, Ginger, Paddy and Potato. The government has been met with proposals of adding many more crops under this scheme but the crops nominated are still under review. The Rashtriya Krishi Bima is an open scheme for those who have not yet availed a loan from a nationalized bank towards their farms and crops. However this scheme is a compulsory scheme for those farmers who have availed loans as it acts like an insurance policy and covers the farmers’ crops.

Think of this policy as an insurance policy given out during home loans. If the home under a loan is damaged through fire and other natural calamities, the insurance policy covers the damage and leaves the borrower with enough cover to fix the house and not worry about loan instalments and repair expenses. Similarly the Rashtriya Krishi Bima Yojna acts as an insurance policy for the crops especially for farmers with loans as they cover the damages borne by the farmer by protecting the crops against natural calamities such as wildfires, droughts, hailstorms, floods, infestations and diseases etc.

This scheme provides comprehensive risk insurance against the yield losses created by the above factors and is being implemented by the AICI or Agriculture Insurance Company of India. Farmers of a particular state can enjoy the cover of this policy and any loss in yields will be borne by the state and central government in an equal manner. Not only does the policy provide risk cover it also offers premiums that farmers can afford with premiums being offered with added subsidy. The policy began implementation of an added subsidy on premium of about 50%. This was raised from its earlier 10% and has been implemented since Rabi, 2007-08. The subsidies are offered to all small and marginal farmers. You can check life insurance policies as well.

Objectives of the Rashtriya Krishi Bima Yojna Scheme:

  1. The scheme is to act as an insurance policy and provide cover and financial support to farmers in the event of any failure of their notified crops
  2. The scheme will promote farmers to take up the advanced and progressive farming practices and switch from depending on rainfall to forms of irrigation such as the drip irrigation system. It also encourages farmers from moving away from manual equipment to adopting mo. It also encourages farmers from moving away from manual equipment to adopting more advanced technology that allows farmers to increase their yield
  3. To provide cover and stabilize the farmer’s income during disaster years where rainfall was low enough to qualify it for a drought, during pestilence, or any other natural calamity
  4. The policy is compulsory to all farmers who are growing notified crops and have availed seasonal agricultural operations loans or SAO loans. This policy will be open and optional to those farmers who are growing notified crops but have not availed SAO loans

Risks Covered by the Rashtriya Krishi Bima Yojna:

The policy offers comprehensive risk cover against the following non-preventable risks:

  • Natural wild fires and fires caused by lightning strikes
  • Storms and derivatives such as Hailstorms, Tornadoes, Cyclones, Hurricanes, Typhoons and Tempest
  • Floods and excessive water flows caused by inundations, overflowing riverbanks, mudslides and landslides
  • Lack of rain leading to droughts and dry spells
  • Damages caused by infestation of pests, rodents and diseases of crops causing massive crop failure

Seasonality Discipline:

The seasonality discipline depends on the type of farmer and varies for loanee farmers and optional or non-loanee farmers. This discipline is subject to modification in consultation with State and Central Governments wherever necessary.

For Loanee Farmers:

  • Loaning period for Kharif is April to September
  • Loaning Period for Rabi is October to Next March
  • The Cut-off date for receipt of declarations for Kharif is November and for Rabi is May
  • The Cut-off date for receipt of yield data for Kharif is January/ March and for Rabi is July/ September

For Non-Loanee farmers the broad cut-off dates for receipt of proposals for Kharif season is by 31st July and for Rabi season is by 31st December.

The policy provides risk against failure of crops thereby securing the farmers income and also encourages them to adopt progressive farming techniques and equipment. This policy will bring about an indirect effect on other fields such as manufacturing, servicing and an overall boost to economic growth and keep the farming credit in circulation. This policy will soon transform itself from a simple insurance policy into an integral component for the agricultural sector.

Rashtriya Krishi Bima Yojna Plan Reviews

Page 1 of 50 1 2 3 4 5
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my term insurance with ICICI bank,the agent had clearly explain me about the policy and benefit coverage, and i use to pay premium amount on monthly basis.they have charged me premium nominal,they have charged me up to 712 on monthly.and my premium amount use to get auto debited from my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been taken my Life insurance with Life insurance corporation of India, the agent had clearly explain me about the policy coverage and benefits,i have been holding two policy one is on monthly basis and one is for yearly basis,there premium amount they have charged me was nominal.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Purchased my life insurance policy in the year of 2001. Since my brother in law working as a agent, i have selected the Life Insurance Corporation of India for my insurance policy. I paid the premium amount of Rs. 2500 for half yearly. I make the premium through online.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Not recommendable policy"
    0.5 4.0/5 "Great!"
    I have taken the life insurance policy from Life insurance corporation of India. I'm making the premium through online. Most of the policy got matured and I'm not satisfied with the returns. I have purchased policy in 1995. I have selected the quarterly payment mode.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Very Good Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this Jeevan Anand insurance policy almost seven years back and i am paying the premium half yearly. The premium amount was around 8944 which was not too high. The payment method has been simple and has been done easily. It is a good policy and suggestible to others.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    My Life insurance with Life insurance corporation of India had got completed, for 15 years, i was been paying this premium amount, the premium amount was on half yearly basis, and now i am waiting for the money to get, there service was good, they have charged me nominal premium amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with HDFC LIFE, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • Tata AIA Life Insurance
    "Go for term insurance for the family future safety"
    0.5 4.0/5 "Great!"
    I have taken my term insurance policy from TATA AIG. This a a terms with returns policy. TATA AIG is providing a less premium with the sum assured amount of Rs. 1 Crore. I used to make the premium amount of Rs. 18000 per annum. I took the policy 1 month before. I have done the documentation process by online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good to have"
    0.5 4.0/5 "Great!"
    My endowment policy was taken from LIC because of the trust and secure. In 2000, i have purchased this policy. I used to make the payment through online. One of my friend has recommended me about this policy. I have visited the branch many times and they are providing average service to the customer.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good to have"
    0.5 4.0/5 "Great!"
    I have purchased a endowment plan from LIC. Bought my endowment plan in 2003. I have been paying the premium amount of Rs. 4000 per annum. I will get a sum assured amount of Rs. 1 lakhs. Total tenure period of the policy is 15 years. This is a tax benefit policy.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good to have"
    0.5 3.0/5 "Satisfactory"
    I have invested a money back policy from Life insurance Corporation of India. I took this policy in the year of 2003. Total tenure period of the policy is 20 years. I have been paying the premium amount of Rs. 100000 per annum. Three times i have received a money back in my account. I have not faced any issue in this policy.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • ICICI Prudential Life Insurance
    "Best Policy"
    0.5 3.0/5 "Satisfactory"
    My life insurance policy was bought from ICICI Prudential. The plan name is money growth. I have been paying the premium amount of Rs. 250000 per annum. I have selected the annual mode. I used to make the premium through online. I will get a sum assured amount of Rs. 25 lakhs. Total tenure period the policy is 10 years.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    My life insurance i have dealing with Life insurance corporation of India,the agent clearly explain about the policy , coverage ,they have send me hard copy, i pay premium on quarterly basis,they have charged me up to 2500-2400 approx, which was nominal, i pay off line via cheque.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jan 20, 2019
  • Tata AIA Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have purchased a term insurance policy from TATA AIA. I opened this policy before 4 months. The claim ratio was 97% hence i have selected them. The premium amount is very less. I've chosen the coverage value of Rs. 50 lakhs. I make the premium by cheque.
    Was this review helpful? 0
    , vapi
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Bad return value in this policy"
    0.5 1.0/5 "Really Bad"
    I hold a investment policy from HDFC LIFE. Friend has told me about this policy. They are not providing a good service to the customer. I took this policy in 2016. I have been paying the premium amount of Rs. 25000 per annum and the sum assured amount is Rs. 2.40 lakhs. This is a tax benefitable policy.
    Was this review helpful? 0
    , vapi
    Reviewed on Jan 19, 2019
  • Kotak Life Life Insurance
    "Good benefits"
    0.5 4.0/5 "Great!"
    I took my life insurance policy from Kotak Mahindra before 6years. It is a long term policy. I pay the premium through online, approx 20K per annum. I am happy with the benefits and their service. I got insurance paper. I need to pay for 15 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 19, 2019
  • LIC Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    I am having a personal life insurance policy for the myself and my wife. All services are good and am fine mostly doing online payment. The tenure period is 15 years. I got an agent, he helps me out. It has good benefits. The premium was paid yearly through online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 19, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using life insurance with Life insurance corporation of India,the agent had clearly explain the policy and the benefit coverage ,and the premium i pay is according to my convenient,like it is flexible option available,like whenever i want i can pay ,but i pay in monthly basis every time,the premium amount i use to pay up to 2000 in an monthly basis,it is nominal.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Good for investment"
    0.5 5.0/5 "Blown Away!"
    HDFC Life is best as per my experience, their claim ratio is good. They are providing terminal premium for the critical illness, disability cover. I took the policy cover for Rs. 10 lakhs, I make the premium of Rs. 30,000 on quarterly basis it has term of 10 years. They do have life cover for certain demise.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with Life insurance corporation of India, i have been holding three policy , the agent had clearly explain me account the policy benefit,and there coverage,the premium amount i use to pay on yearly basis,which they have charged me was nominal,and i use to get deducted from my account.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 19, 2019
Common Loader Icon
Page 1 of 50 1 2 3 4 5

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.