What are the different components of the Pradhan Mantri Fasal Bima Yojana scheme?






Raji Raji
Answered on March 27,2019

The Pradhan Mantri Fasal Bima Yojana scheme has two components, which provides coverage to the farmers (loanee & non-loanee):

  • Compulsory component: All the loanee farmers are compulsorily covered and provided insurance as per the provisions mentioned in the scheme.
  • Voluntary componentThis component is optional for non-loanee farmers. The procedure to opt for this component is:
    1. The farmers willing to avail this benefit should approach the nearest bank / authorized channel partner of the insurance company before the mentioned cutoff date.
    2. They should fill-up the proposal form and provide the details of their saving bank account & land identification number with all the necessary documents.
    3. The farmers will need to submit this form along with the premium amount to the bank/ authorized channel partner of the insurance company.