SBI Cattle Insurance in India: How to Apply, Policy Premium Cost for Cows, and Buffalo

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.

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 1^st calving – 10 yrs
Milch Buffaloes	3 yrs/or age at 1^st 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/ 1^st calving age, whichever is lower
Milch Cow’s offspring	From the age of 4 months – 2 yrs/ 1^st calving age, whichever is lower
Milch Buffaloes offspring	Up to 3 yrs/1^st 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

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

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.

SBI Cattle Insurance in India: How to Apply, Policy Premium Cost for Cows, and Buffalo