Pradhan Mantri Fasal Bima Yojana (PMFBY)

Pradhan Mantri Fasal Bima Yojana 2021

Post Date: 27/02/2021

Short Information: The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched in 2016. It is a scheme that provides coverage against financial losses suffered by farmers due to various unfortunate events. It covers crop failure due to localized risks, post-harvest losses, natural calamities, unseasonal rainfall, pests, crop diseases, and so on.

Objective of Pradhan Mantri Fasal Bima Yojana

  • PMFBY aims at supporting sustainable production in agriculture sector. By reducing the financial loss of crop failure, it helps stabilize farmer incomes. And when farmers have a stable income, they can invest in better farming practices, which in turn, brings several benefits.
  • To provide financial support to farmers against crop damage/loss.
  • To stabilize the income of farmers to ensure their continuance in farming.
  • To encourage farmers to adopt innovative & modern agricultural practices.
  • To ensure flow of credit to the agriculture sector.

Key Features of PMFBY from IFFCO- Tokio

Key Features

Benefits of IFFCO-Tokio

Harvest Seasons Covered

Kharif & Rabi

Prevented Sowing/Planting


Mid-Season Adversity


Localized Calamities


Post-Harvest Losses


As per Annual Audited Financials, FY’2019.


pardhan mantri fasal bima yojna
Pradhan Mantri Fasal Bima Yojana 2021

Eligibility for Pradhan Mantri Fasal Bima Yojana 2021

  • The scheme provides Insurance coverage to all farmers on voluntary basis for their crops as notified by the State Government. Following are the eligibility criteria for the PMFBY scheme.
  1. All farmers including sharecroppers and tenant farmers growing the notified crops in the notified areas are eligible for coverage.
  2. To avail coverage under the Pradhan Mantri Fasal Bhima Yojana, farmers should have insurable interest for the notified/insured crops.
  3. Non-loanee farmers need to submit land records prevailing in the State such as Records of Right (RoR), Land possession Certificate (LPC), etc. and/ or applicable.

Coverage of PMFBY crop insurance scheme

  • Following stages of the crop and risks leading to crop loss are covered under the scheme:
  • Basic Product: The scheme covers the risk of: Standing Crop (Sowing to Harvesting): Comprehensive risk insurance is provided to cover yield losses on area approach basis due to non-preventable risks, viz. Drought, Dry spells, Flood, Inundation, wide spread Pests and Diseases attack, Landslides, Fire due to natural causes, lightening, Storm, Hailstorm, and Cyclone.
  • Add-On Coverage: Apart from the mandatory basic product, the state’s Govts. /UTs, in consultation with SLCCCI may choose any or all of the following add-on covers based on need of specific crop/area in their State to cover following stages of the crop and risks leading to crop loss:
  • Prevented Sowing/ Planting Risk: If more than 75% of a notified crop area in an insurance unit remains unsown, or there is germination failure during sowing period due to adverse weather conditions such as deficit rainfall or adverse seasonal conditions, then the farmers are eligible for preventing sowing failure risk. The lump sum pays out to insured farmers under this cover would be 25% of the sum insured and the insurance cover will be terminated.
  • Mid-Season Adversity: Loss in case of adverse seasonal conditions during the crop season viz. floods, prolonged dry spells and severe drought etc., wherein expected yield during the season is likely to be less than 50% of Normal Yield. The pay-out to insured farmers under this cover would be 25% of the likely claims, subject to adjustment against final claims.
  • Post-Harvest Losses: Coverage is available only up to a maximum period of two weeks (14 Days) from harvesting, for those crops which are required to be dried in cut and spread / small bundled condition in the field after harvesting, against specific perils of hailstorm, cyclone, cyclonic rains and unseasonal rains. Assessment of damage will be made on individual farm basis.
  • Localized Calamities: Loss/damage to notified insured crops resulting from occurrence of identified localized risks of hailstorm, landslide, inundation, cloud burst and natural fire due to lightening affecting isolated farms in the notified area.

Pradhan Mantri Fasal Bima Yojana 2021 Claim Process.

  • It is essential for farmers/designated agencies to provide intimation in case of crop failure or post-harvest losses due to localized calamites as each claim will be assessed on an individual insured farm level. Further, farmer must provide intimation of the loss within 72 hours directly to us on our dedicated toll-free number for crop related queries:1800-103-5490. Intimation can also be made to the insurance company, concerned bank, local agriculture department Govt./district officials or on National Crop Insurance Portal.
  •  Time frame for loss assessment and submission of report:
  1. Appointment of loss assessor within 48 hours from receipt of information.
  2. Loss assessment to be completed within next 10 days.
  3. Claim settlement/payment to the farmers to be completed in next 15 days (subject to receipt of premium) from loss assessment report.

Important Links

Farmer Login Click Here
Insurance Company Directory Click Here
Bank Branch Directory Click Here
Official Website  Click Here
Guidelines Click Here

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