Modified National Agricultural Insurance Scheme (MNAIS)

Modified National Agricultural Insurance Scheme (MNAIS)

  

Insurance protection for notified food crops, oilseeds and annual horticultural / commercial crops

Actuarial premium rate for notified crops subject to maximum premium up to 11 % & 9 % for food & oilseeds crops, of Kharif and Rabi seasons, respectively. For annual commercial / horticultural crops, it is capped at 13 %.Subsidy up to 75 % of premium is provided to all types of farmers depending on the slab premium.Upto 2 % - Nil,More than 2-5 % : 40 % subject to minimum net premium of 2 %More than 5-10 % : 50 % subject to minimum net premium of 3 %More than 10-15 % : 60 % subject to minimum net premium of 5%More than 15 % : 75 % subject to minimum net premium of 6 %If the sowing is not done due to adverse weather / climate, claims / indemnity up to 25 % of sum insured will be paid for prevented sowing / planting risk.When the crop yield is less than the guaranteed yield of notified crops, the indemnity payment equal to short fall in yield is payable to all insured farmers in the notified areas.However, on-account advance payment, up to 25 % of likely claims will be paid as immediate relief in those notified areas where yield losses are at least 50 % of Threshold yield (TY)Besides, postharvest (upto 2 weeks) losses due to cyclone are also covered.Losses due to localized risks of hail storm and landslide are assessed on individual basis and claims to affected insured farmers are paid accordingly.
 

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