How to Claim Under the Pradhan Mantri Fasal Bima Yojana | PMFBY Claim Form
Department of Agriculture, Co-operation & Farmers Welfare (DAC&FW), Government of India (GOI) and the Ministry of Agriculture & Farmers Welfare (MoA&FW), along with the state governments joined the efforts of PM Narendra Modi when the Pradhan Mantri Fasal Bima Yojana was implemented in the country on the 18th February, 2016. The main objective of the scheme was to assist the farmers to mitigate their crop loss in case of natural calamities by providing them crop insurance at low premium rates.
How to claim for insurance
Working out the calculations for analyzing the damage done to the crops and claiming the insurance money is a must. This counting must be worked out carefully for assisting in settling the insurance due money.
There are two variables that play a vital role in the crop damage calculation. One is the Actual Yield i.e. AY and the other is the Threshold Yield i.e. TY. Both are measured on per hectare basis. Only when the AY amount is below the TY amount, the insurance claim of crop damage will be settled in a prompt manner.
For making the claim payouts, the calculation can be done on formula mentioned here:
Claims Payout = (Shortfall in Yield / Threshold Yield) * Sum Insured
When you subtract the Threshold Yield amount from Actual Yield, you will get the Shortfall in Yield. The authority will be able to settle the insurance claims and assist the farmers in meeting their monetary losses, once they have the exact figures. But one should remember that the claims will only be accepted if the damage to the crop has been caused due to natural causes, which are beyond the control of people.
Documents required for the claiming process
As it is during making the application and registering under the insurance scheme, the farmers will also have to provide certain legal documents on a mandatory basis. These legal papers will assist the respective authorities in analyzing the damage that has been caused to the crops and then settling the insurance claims. The following are the list of documents, which the farmers need to keep handy:
- The certificates of sowing on the farm – Submitting the papers, which hold the details about the sowing done on the farm, also known as the sowing certificate, is mandatory. These documents must be verified by the respective authority.
- Filled insurance claim form – The main piece of document that the farmer will need for settling the insurance claim is the duly filled insurance claim form. To get the insurance money, you need to make sure that all details are filled in the form in an error free manner.
- Records of the land – The farmer will also have to provide the data and records that are associated with the plot on which the crop was raised. It is important that the records are all in place, according to the government norms.
- Certificate for the insurance agency – If the insurance policy has been purchased from an agency, then the farmer has to provide all papers that will certify that the agency has the clearance from the government.
- Insurance certificate – The claim settlement process will not be possible without the submission of the insurance policy papers. This document will support the claim and the authority will know that the farmer had taken the policy.
- Photographs of the damaged crops – As the insurance money will be given to mitigate the losses that the farmers have incurred due to natural calamity; the farmers will have to furnish two good photographs of the damaged crops.