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Central and state governments are launching several insurance schemes and policies for humans. But animals also need insurance, especially livestock or cattle. These animals are not just pets. They are a source of income for their owners. Livestock like sheep offer milk, meat and wool, which fetch significant revenue for the owners. In that case, sheep owners must insure the lives of these animals. Rajasthan government has re-launched a unique scheme, named Avika Kavach Yojana that insures lives of sheep.

Key features of the scheme

тЩж Development of sheep farmers┬атАУ Rural sheep farmers are rather poor. They donтАЩt have much at their disposal. Losing one or more sheep means a sizeable dent in their monthly income. With this sheep life insurance, these farmers can be rest assured that they will not incur huge loss.

тЩж Safeguarding their investments┬атАУ Market price of any cattle is high. Poor rural cattle owners face lots of hardships to arrange money for purchasing one sheep. If that sheep dies due to any disease, then cattle owner will be in deep trouble. This sheep insurance scheme will protect their investments.

тЩж 100% insurance┬атАУ Under this scheme, sheep owners will receive 100% insurance on each sheep.

тЩж Number of units insured┬атАУ It has been mentioned in the scheme draft that each farmers will be able to insure as many as ten units of sheep.

тЩж Strength of each unit┬атАУ Each unit of sheet must not consist of more than 10 animals. So, overall, each farmer will be able to insure 50 sheep.

тЩж┬а Premium for insurance┬атАУ The sheep owner will have to pay a premium for this insurance. If the sheep owner travels with the animals for more than 80 km, then he will have to pay 0.85% more premium. If the owner and sheep have to travel for 25 km, then 1% of total amount insured needs to be paid by the cattleman.
Insurance amount in bank account┬атАУ All financial transactions will be made via respective bank accounts. Thus, all applicants need to possess an active bank account in their name.

 

Eligibility for application

 

тЩж Residential criterion┬атАУ This insurance policy has been implemented by Rajasthan state government. Thus, only the legal residents of Rajasthan will be able to get the benefits of this project.

тЩж Financial power┬атАУ The scheme has been developed for those who belong to Below Poverty Line only.

тЩж ST and SC candidates┬атАУ Sheep farmers, belonging to ST and SC group will be able to apply for this insurance policy.

тЩж Not for already insured sheep┬атАУ In case the animals have already been insured under any government or private scheme, then those animals will not be considered for this project.

тЩж Number of animals permitted for insurance┬атАУ Any applicant can a maximum of 50 sheep under this unique project

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