by aditya abhishek
If you are a coconut grower, you must have seen losses due to risks from climatic changes, natural disasters, etc. That's why getting insurance can protect your livelihood in such conditions.
Coconut Palm Insurance Scheme or CPIS is an Indian government initiative designed to provide financial protection to coconut farmers against losses due to natural calamities.
If you are an individual farmer that can offer at least 5 healthy ‘nut’ bearing palms in your farm & has legal ownership, then you are eligible for this scheme.
However, CPIS is usually implemented in specific regions or districts where coconut farming is prevalent. That's why your farm should be in the coconut growing belt.
Tall, Dwarf & Hybrids bearing healthy nuts with dward & hybrid with age range of 4 to 60 years and tall variety in age range of 7 to 60 years are eligible for this scheme.
Losses due to natural calamities such as Storm, hailstorm, cyclone typhoon, tornado, heavy rains, flood, earth quake, landslide, tsunami, drought, pests & diseases are covered.
Farmers can get insurance on annual basis in which the rebate in premium that will be provided to farmers are @7.5% for two year policy & 12.5% for three year policy.
Farmers will have to intimidate insurance organizations within 15 days from occurrence of peril, with all relevant details.
thanks for reading!