Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by Prime Minister Narendra Modi for farmers for their fields.
The PMFBY aims to improve the safety of crops and to ensure that the maximum benefit of crop insurance reaches the farmers of India.
Under this scheme, the insured farmers will be protected from losses due to natural calamities like typhoon, flood, storm, drought, natural fire, unseasonal rain, etc.
Premium will be paid by the farmers in the following manner:
- 2% of the sum assured or actuarial rate* (whichever is lower) will be paid by the farmers in the case of all Kharif crops.
- 1.5% of the sum assured or actuarial rate (whichever is lower) will be paid by the farmers in the case of all Rabi crops.
- 5% of the sum assured or actuarial rate (whichever is lower) will be paid by the farmers in the case of annual commercial and horticulture crops.
*Actuarial rate is the estimated value of future losses.
How to Apply for Pradhan Mantri Fasal Bima Yojana (PMFBY)?
Farmers can enroll for PMFBY through banks, brokers, CSC e-Government Services India Limited, or directly through the website.
Follow the below steps to apply online for crop insurance under PMFBY:
- Visit the official website of PMFBY
- Click on Farmer Corner
- If you do not have an account on the website, click on Guest Farmer. Fill in all the details correctly and click on submit. Your account will be created.
- Fill out the form in the insurance scheme and click on submit.
If you are already registered, then skip step 3 and click on Login for Farmer. Proceed with filling out the insurance scheme form.
Note: The application for PMFBY must be submitted within 10 days of sowing.
Documents needed for PMFBY
- Bank account number
- Aadhaar card
- Khasra number of land
- Agreement photocopy
- Ration card
- Voter ID
- Driving license
- Passport-size photograph of the farmer, etc.
How to Apply for a Claim in PMFBY?
If crops get ruined due to a natural calamity like typhoon, flood, storm, droughts, natural fire, etc., then inform the insurance company within 72 hours. After the claim assessment, insurance money will be transferred to the bank account.
If you face any problem related to insurance, you can contact Insurance Samadhan. We have helped resolve 14,500+ complaints of policyholders. Insurance complaints like insurance fraud, mis-selling, claim rejection, delay in claim settlement, etc. Contact us to get samadhan for your insurance-related issues, we’ll be happy to help you.