Rural communities value cattle as one of their most valuable possessions. Cattle rearing generates substantial income for marginal, small, and medium farmers. Because farmers’ livelihoods depend on their cattle, getting cattle insurance is essential to ensure a comprehensive level of protection against the loss of cattle.
![SBI Cattle Insurance in India: How to Apply, Policy Premium Cost for Cows, and Buffalo 1 SBI Cattle Insurance in India](https://agriculturalmagazine.com/wp-content/uploads/2023/03/SBI-Cattle-Insurance-in-India-2.jpg)
Another attempt by the Government of India to protect the country’s agro-based economy is cattle insurance. Indian rural people are protected from financial losses caused by the death of their cattle by cattle insurance. Cattle are expensive, and their loss can force farmers into debt. Cattle insurance will provide farmers with comprehensive protection against cattle losses.
SBI Cattle Insurance in India
Types of Cattle Insurance
- Death of cattle: A surgical infection or accident resulting in death is covered, as well as death due to accident or injury
- Permanent Disability cover: Disabilities that may be permanent and complete are covered by this insurance
What SBI Cattle Insurance Covers?
There are also other types of cattle insurance coverage beyond fire, road, drowning, electrocution, snake bite, and poisoning insurance. They include:
- Deaths caused by natural disasters such as storms and earthquakes
- Surgery-related death due to disease, infection, or calving
- For milch cows, permanent disability is the inability to produce milk and conceive. In the case of bulls, it refers to their inability to reproduce
Eligibility Criteria for Applying for SBI Cattle Insurance
Cattle Insurance Policy covers people who have:
- Both males and females of cows, bullocks, or buffaloes
- Private owners, military dairy farms, cooperative dairies, and corporate dairies own cross-breed and exotic cattle
- This policy applies to both schemed and non-schemed animals. Livestock subsidized by the National Livestock Development Board (NLDB) and State Livestock Development Board (SLDB) is considered schemed animals.
- Cattle will be insured according to their current market value. When calculating the sum assured, it is also important to consider the animal’s breed, area, and location. The sum has no more than 100% of the market value.
- When buying insurance, policy seekers should ensure that the cattle are not injured or infected. Obtaining a veterinary surgeon’s certification of the health condition is necessary. Insurance coverage is available to animals under the following age groups.
Animal Type | Animal Age |
Milch Cows | 2 yrs/or age at 1st calving – 10 yrs |
Milch Buffaloes | 3 yrs/or age at 1st calving – 12 yrs |
Stud Bulls | 3 yrs – 8 yrs |
Bullocks & Male Buffaloes | 3 yrs – 12 yrs |
Female Calves/ Heifers | From the age of 4 months – 2 yrs/ 1st calving age, whichever is lower |
Milch Cow’s offspring | From the age of 4 months – 2 yrs/ 1st calving age, whichever is lower |
Milch Buffaloes offspring | Up to 3 yrs/1st calving age, whichever is lower |
The minimum policy period is one year, and the maximum can be three years. In the case of Non-Scheme animals, the premium rate would be 4%, and accordingly, the premium amount should be computed. The premium rate for Scheme animals would be 2.25%.
In case you missed it: Top 10 Cattle Diseases: Symptoms, Causes, Prevention, and Control
![SBI Cattle Insurance in India: How to Apply, Policy Premium Cost for Cows, and Buffalo 2 Feeding Cows](https://agriculturalmagazine.com/wp-content/uploads/2023/03/SBI-Cattle-Insurance-in-India-1.jpg)
How Does SBI Cattle Insurance Function?
- First, the cattle must be identified, and the price of the cattle must be determined before the sum assured can be finalized. The beneficiary and an authorized veterinarian carry out this assessment jointly
- According to the policy, the beneficiary must pay the premium amount monthly or annually
- In the event of disability or death of the cattle, the beneficiary immediately informs the bank
- The insurance company requires all required documents to be submitted
- All the documents will be validated, and an insurance company representative will settle the claim.
Documents Required for SBI Cattle Insurance Claim Process
- Proposal form
- Minimum four photographs of the insured animal
- Medical certificate from a veterinary doctor
- Duly filled in the claim form
- The identification tag of the insured cattle
- Receipt of payment while purchasing the animal
SBI Cattle Insurance Claim Process
- SBI’s 24/7 toll-free customer care number should be contacted immediately by the owner about the death or injury.
- Make sure you get a veterinary practitioner to sign the death certificate or the disability certificate
- In addition to the death/disability certificate, the beneficiary should submit the duly filled-out claim form
- An authorized member of the SBI will verify the details submitted on the site
- The amount is paid to the beneficiary if the claim is genuine; otherwise, it is rejected.
Exclusions in SBI Cattle Insurance
- Shipment via airways or sea
- Terrorism, war, radioactivity, and nuclear explosions
- Theft or clandestine sale
- Neglect, over-loading, and treatment under unskilled doctors
- Using for another purpose than what has been mentioned in the claim proposal
- Accidents or injuries which occurred before the commencement of the policy
- Slaughtering without permission from the veterinary or government official
- Not treating when sick or not taking any initiative to prevent the death
Important Points to Consider in Mind While Buying Cattle Insurance
- Nutritional feed must be given to cattle, and they must be properly vaccinated. Deaths or disabilities caused by intentional carelessness might result in the claim being rejected
- The bank must be notified immediately after a mishap to receive the claim approval
- If a qualified and certified veterinary doctor does not handle the animal, the claim may be rejected
In case you missed it: National Agricultural Insurance Scheme in India: Eligibility and How to Apply
![SBI Cattle Insurance in India: How to Apply, Policy Premium Cost for Cows, and Buffalo 3 Cow Farm](https://agriculturalmagazine.com/wp-content/uploads/2023/03/SBI-Cattle-Insurance-in-India-3.jpg)
Advantages of Buying Cattle Insurance
Cattle insurance intends to benefit a maximum number of people in rural India. The insurance policy provides coverage against the risks of death and permanent disability due to
- Accidents or Famines
- Earthquakes
- Surgical operations, Riots, or strikes
- Fire, explosion, implosion, and lightning
- Aircraft damage or missile testing activities
- Natural calamities like storms, tornados, typhoons, hurricanes, inundation, and floods
- Disease contracted and infection was inflicted during the policy period
Conclusion
Cattle insurance aims to protect your animals against accidents and unexpected events. With this insurance, no matter what kind of animals you have-piggy, cattle, sheep, goats, chickens, etc.-you’re covered. You can choose from various policy options based on your budget and needs. A blanket policy covers your property, equipment, and livestock, while an individual policy covers higher-valued animals.
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