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The fact that 70% of the population in India lives in rural areas and contributes to the development of the country in a big way makes it important for them to avail schemes meant for their welfare.
It wouldn't be wrong to say that farmers and their agriculture business play an important part in the growth of our country. Thus, it makes sense for this section to get coverage as per their needs in the form of rural insurance plans.
What is Rural Insurance?
Rural insurance ensures that families living in rural areas have a safe and secure future so that they can lead a happy life. The insurance helps them to cover risks related to various aspects of their life. Rural Insurance policies come with the affordable premium rates and faster claim process.
There are several benefits of buying a rural insurance policy. Few of them are listed below:
Majority of the plans are available at an affordable price with low premium rates.
These plans are constructed keeping in mind the customized needs of rural India.
Also, these plans are helpful for the people involved in agriculture and other associated activities.
What does a Rural Insurance cover?
Rural insurance is associated with the lifestyle risks of people residing in villages. This insurance policy mainly includes:
Hut insurance
Poultry insurance
Cycle rickshaw policy
Sericulture insurance
Honey bee insurance
Failed- well insurance
Sheep and goat insurance
Lift irrigation insurance
Farmers package insurance
Animal-driven cart insurance
Gramin personal accident insurance
Aqua-culture (prawn/ shrimp) insurance
Horticulture/ plantation insurance scheme
Animals included in rural insurance are elephants, rabbits, pigs, birds, and circus animals.