Livestock Insurance Scheme

The Government of India's Livestock Insurance Scheme offers a vital safety net for farmers and cattle rearers. This initiative recognizes the importance of livestock to the rural economy.

The Livestock Insurance Scheme not only protects farmers from financial losses due to animal death, but it also incentivizes investment in higher quality livestock. By insuring valuable crossbred and high-yielding cattle and buffaloes, the scheme encourages farmers to upgrade their herds. This, in turn, can lead to increased milk and meat production, contributing to better food security and economic prosperity in rural areas.

Why insure your livestock?

Livestock plays a critical role in the lives of millions of Indian farmers. They provide milk, meat, manure, and draught power, forming the backbone of the rural economy. However, unexpected events like disease, accidents, or natural disasters can lead to significant financial losses if an animal dies.

The Livestock Insurance Scheme helps mitigate this risk by offering financial compensation for the death of insured animals. This empowers farmers to:

1. Invest in high-yielding breeds: Knowing their investment is protected, farmers can confidently invest in purchasing high-yielding cows, buffaloes, or other eligible livestock.

2. Recover from losses: The insurance payout helps farmers recover financially from the loss of an animal, allowing them to continue their livelihood without facing crippling debt.

3. Improve herd management: Financial security encourages better care and management practices for their livestock, potentially leading to healthier and more productive animals.

Types of Livestock Covered (to be confirmed with the Department of Animal Husbandry)

While the core focus is usually on cattle and buffaloes, some states might extend coverage to other livestock like:

1. Sheep
2. Goats
3. Pigs
4. Mithun (in the North Eastern states)
5. Yak (in Himalayan regions)

Policy Details and Costs

Premium Subsidy: The Government of India subsidizes 50% of the premium, making livestock insurance highly affordable for farmers.

Policy Duration: Choose between one, two, or three-year coverage periods to fit your needs and budget.

Premium Calculation: Premiums are calculated based on the animal's age, breed, and sum insured (maximum coverage amount).

Claim Process

In case of an insured animal's death, here's the general claim process:

1. Intimate the Insurance Company: Report the death to the insurance company or your local Animal Husbandry department representative within a stipulated timeframe (usually 48 hours).

2. Documentation: Submit necessary documents like the death certificate issued by a veterinary doctor and the insurance policy documents.

3. Claim Settlement: Once verification is complete, the insurance company will disburse the claim amount.

Finding Out More

The Livestock Insurance Scheme is implemented through the State Livestock Development Boards. Here's how to get started:

1. Contact your local Department of Animal Husbandry: They can provide details on program availability in your district, eligible livestock species, and the application process.

2. Visit the Department of Animal Husbandry & Dairying website (dahd.nic.in): The website offers resources and information on the scheme.

By leveraging theLivestock Insurance Scheme, farmers can build resilience, improve their livelihoods, and contribute to a stronger agricultural sector in India.

Conclusion

The Livestock Insurance Scheme is a valuable tool for farmers, offering financial security and promoting investment in better quality livestock. By protecting your animals, you are safeguarding your livelihood and contributing to a more productive and sustainable agricultural sector.