Agriculture Insurance Company offers compensation to the insured wheat crop, in the manner specified herein, against the likelihood of diminished wheat output/yield resulting from a) lower biomass / crop vigour as measured using satellite imagery in terms of Normalized Difference Vegetative Index (NDVI) within the specified taluka / block preferably during the month of February (corresponding to peak crop vigour, subjected to availability of satellite image) and / or b) high temperature (in degree centigrade) consecutively for specified number of days above specified levels in the 1st and / or 2nd fortnight of March as measured at RWS.
Period of Insurance:
The insurance operates during peak wheat crop growth stage, more particularly during parts of February and March How claims become payable: In the event that, in the geographical location and during the time period specified in the Schedule to this policy, the current NDVI (scaled value) falls short of the specified trigger level, the benefit payable to the insured shall be a sum specified corresponding to the trigger level;
In the event that, in the geographical location and during the season specified in the Schedule to this policy the maximum temperature of specified number of consecutive days, as recorded at RWS is higher than the specified trigger levels during 1st fortnight and / or 2nd fortnight, the benefit payable to the insured shall be a sum specified corresponding to the trigger level.
Premium chargeable would be statistically/actuarially calculated based on the geographical area, the triggers specified and the biomass and temperature patterns of the specified geographical area in the historical periods.