Livestock insurance schemes in India aim to protect livestock in India. Millions of farmers and other people in our country rear animals such as cows, buffalos, sheep, goats, camels, etc. 

These animals are a source of livelihood for millions. The loss of these animals because of diseases, unfortunate accidents, and death can cause a significant loss to farmers or cattle rears.  

Therefore, the Government of India started a livestock insurance scheme to protect the interests of livestock rears. 

The livestock insurance scheme is a central government-backed scheme launched during 2005-2006 on a pilot basis in 100 selected districts of India.

From 2008-2009 livestock insurance scheme was continuously introduced in one hundred (100) newly selected districts of India. 

Livestock Insurance Schemes 

The central government launched livestock insurance schemes in India during 20005-2006 with two objectives. One objective of the plan is to protect the interest of cattle rears against possible loss of their animals because of death due to disease or accident.  

The second objective of this scheme is to aware the people of the country about the benefits of livestock insurance. And also to achieve the goal of improving livestock and their products. 

The livestock insurance scheme is implemented through State Livestock Development Boards all over the country except for Goa. 

Under this scheme, the government provides insurance for high-yielding buffalos, cows, and crossbreed varieties. Insurance is offered to an owner at a maximum cost of the animal according to its market price.   

An owner can take this insurance plan for a maximum of two cattle for three years.

Livestock Insurance Scheme Launch Date

The livestock insurance scheme in India is a central government-sponsored scheme. This scheme was launched as a pilot project during 2005-2006, 2006-2007, and 2007-2008 of the 10th and 11th five-year plan, respectively, on a pilot basis in 100 selected districts of India.

Eligibility for Livestock Insurance Scheme

You can take livestock insurance if you have the following:

• Cows, buffaloes, or bullocks of either sex
• Cross-breed and high-valued cattle

This insurance policy is available for schemed and Non-schemed cattle. Schemed animals are given under subsidy by National Livestock Development Board and State Livestock Development Board. 

Non-schemed cattle are financed by various financial institutes and are owned by an individual or corporative dairy farms. 

Before taking this insurance policy, your cattle must be in good health. The cattle for which you are taking this policy must not be injured or suffering from any illness. 

Cattle owners must get a health certificate for the cattle for which they want an insurance policy from a registered veterinary practitioner.  

Also Read: Welfare Schemes for Women in India

What are things Covered Under Livestock Insurance?

Livestock insurance schemes in India aim to provide benefits to livestock rear. An owner of insured cattle can get the benefits of this insurance policy under the following circumstances: 

• If cattle die because of natural incidents such as famine, flood, earthquake, or road accident. 
• In case the insured cattle get motility injuries due to shooting, explosion, fire, smoke, loading, electrocution, unloading, and falling objects.
• If cattle suffer from some diseases
• Medical expenses are covered under this plan if insured cattle need a surgical operation.
• If cattle lose its life due to terrorist activities, this insurance policy provides benefits.
• This insurance policy also covers cattle loss benefits due to riots, strikes, theft, vandalism, and crimes.  
• The insurance policy covers motility injury of cattle due to animal attacks. 
• If the death of a cattle occurs due to transporting or collision, this policy provides financial assistance.  

Functioning Method of Cattle Insurance

Managing livestock cattle insurance has significance in rural areas. The below steps will help you understand how livestock insurance schemes work.

• Firstly, cattle are identified and calculated his value according to the market value before finalizing the sum assured.
• The value of the cattle is worked out jointly by the owner and authorized veterinary official.
• The insurance policy’s premium must be paid by the beneficiary monthly or yearly, according to the policy.
• The beneficiary needs to immediately inform the insurance company in case of death or disability of the cattle.
• The beneficiary requires to produce all the documents to the insurance company.
• The insurance company’s representative will examine all the documents and settle the beneficiary claim.

Claim Settlement Process for Cattle Insurance

Below mentioned steps are required to follow for insurance claim settlement.

• In case of death or injury of the insured cattle, the owner needs to inform the insurance company immediately on their customer care number.
• Cattle owners must acquire a death/disability or injury certificate from a registered veterinary doctor.
• The cattle owner must also submit a claim form, duly filled, along with the death/disability certificate. 
• The insurance company will send an authorized official to visit the site and verify the details.
• If the insurance claim for the cattle is genuine, the insured amount will be paid to the beneficiary. If the claim is found false, then it will be rejected.

Requisite Documents for Insurance Claim Process

Documents mentioned below are required to settle the insurance claim process.

• Proposal form
• Death/disability certificate from a registered veterinary doctor
• 4 photos of the insured animal. The identification tag should be clear on the photos 
• Claim form, which should be duly filled
• Ownership documents of the animal
• Insured animal identification tag.

Livestock Insurance Companies in India

Some of the insurance companies/banks offering livestock insurance in India are:

Conclusion

Livestock insurance schemes in India are central government-backed insurance plan that aims to protect the interests of livestock rears. This scheme covers indigenous/cross bread animals such as milch cows, buffalos, and pack animals like goats, sheep, camels, horses, etc. 

This scheme was started during the year 2005-2006. Livestock insurance benefits the cattle rears in case of any unfortunate incident, such as the death or disability of their cattle.  

Livestock development boards of the states supervise this insurance scheme, and these boards guide a rear who wishes to take policy in getting this insurance policy for their cattle.