Unified Package Insurance Scheme
The Unified Package Insurance Scheme aims to provide financial protection to farmers involved in agricultural activities, thereby ensuring food security, crop diversification, and enhancing agriculture sector growth and competitiveness, in addition to protecting farmers from financial risks. The government provides yield-based crop insurance to farmers under this scheme based on their land ownership rights. This article will go over the Unified Package Insurance Scheme in great detail.
The Unified Package Insurance Scheme aims to provide financial protection to farmers involved in agricultural activities, thereby ensuring food security, crop diversification, and enhancing agriculture sector growth and competitiveness, in addition to protecting farmers from financial risks. The government provides yield-based crop insurance to farmers under this scheme based on their land ownership rights. This article will go over the Unified Package Insurance Scheme in great detail.
Importance of Unified Package Insurance Scheme
- This scheme is intended to meet the insurance needs of citizens working in the agricultural sector.
- This scheme provides yield-based crop insurance to farmers based on their property ownership rights.
- The scheme covers both the farmer's personal assets, such as his or her home and its contents and other assets that help him or her earn a living, such as
- Agricultural Pump Sets and Agriculture Tractors.
- The Unified Package Insurance Scheme protects the farmer and his family members in the event of an accident, provides accidental insurance protection for the farmer's school or college-age children, and pays the student's education fees in the event of the parent's death.
- The insurance will be valid for one year under the Unified Package Insurance Scheme.
- Farmers and their families are covered by life insurance.
Sections of the Unified Package Insurance Scheme
- Personal Accident Protection
- Insurance for the Structure and Contents
- Insurance for Agriculture Pumpsets
- Insurance for Agricultural Tractors
- Insurance for Student Safety
- Insurance for life
- Crop Protection Insurance
Policy Inapplicability
- Loss or damage, liability or expenses (directly or indirectly) caused by or arising from any consequences of war, invasion, foreign enemy act, hostilities civil war, revolution, insurrection, mutiny, military, rebellion, or civil commotion, or loot
- Loss or damage due to deterioration or wear, as well as consequential loss of any kind or description.
- Nuclear weapons-caused loss or damage
- This insurance does not cover direct losses or damages caused by ionizing radiation or contamination by radioactivity from nuclear wastes resulting from the combustion of nuclear fuel.
Also Read:- Weather-Based Crop Insurance Scheme: Operational Guidelines
