What is livestock insurance?
Livestock insurance is a form of compensation provided within a set of conditions in the event of death of livestock resulting from disease/accident.
Excluding death from diseases/accidents, what other benefits will the insurance cover?
Compensation will be provided in the event of partial damage incurred during pregnancy related complications or due to an accident.
What is the purpose of livestock insurance?
To save needy farmers/farm owners from financial setbacks and compensate for financial loss using insurance in the event of death of livestock due to accident, natural disaster and diseases.
What is the goal of livestock insurance?
To inspire farmers and farm owners for investing in livestock production and farming by providing financial security and loan safety.
What are the characteristics of livestock insurance?
Ensuring compensation within a given set of conditions for death of livestock due to disease/accident which will inspire farmers to invest more into farming.
Ensuring good practice by keeping record of correct vaccination time on card during livestock vaccination.
A transparent insurance claiming system
Settlement of insurance claim at earliest convenience by using a planned procedure
Using digital technology and mobile application in this insurance to complete full operation
Can insurance be claimed in the event of distress caused to the livestock intentionally?
No insurance claim will be entertained if the livestock is harmed by the insurance holder/through someone else by the insurance holder.
Is it mandatory to vaccinate the livestock with all vaccinations?
All vaccinations such as Torka, Khur, Badla, Golafula etc needs to be provided from time to time otherwise insurance claim will not be entertained.
Is insurance available in case of theft or unauthorized slaughter?
Insurance claim will not be entertained if the insured livestock is stolen, sold off secretly or slaughtered.
While claiming insurance, is there any limit regarding the distance of the farm from the livestock?
Insurance cannot be claimed if the insured livestock dies 10 km away from the farm.
Will there be any problem regarding change of ownership for an insured livestock?
In the event of change of ownership, the insurance will be deemed ineffective and the new owner will have to reinsure the livestock.
Is there any age limit for the livestock to get insured?
The livestock should be between the age of 6 month to 7 years old.
Is post-mortem required for insured livestock in case of death/accident?
Within 12 hours from the death of livestock due to disease or accident, a post-mortem is required through an authorized veterinarian.
Is post-mortem a requirement for partial damage done to an insured livestock due to an accident?
In the event partial damage caused during accident or pregnancy a certificate will be required from an authorized veterinarian.
How will the livestock get identified?
For livestock insurance, NFC tag will be used to identify the animal.
How will the ground level operation run?
All operation will be executed using mobile application.
Is the tag removable from the livestock’s neck?
The NFC tag cannot be removed from the animal’s neck at any cost during the period of the insurance.
What is the procedure to claim the insurance?
A required form needs to be filled out for claim settlement
A health card needs to be submitted for dead livestock
Insurance claim settlement procedure will be accepted with the return of the dead animal’s NFC tag
Provide post-mortem report issued by registered veterinarian for dead livestock
Certificate from veterinarian needs to be collected for partial damage caused to livestock due to an accident or pregnancy