Haryana/ Hisar:- Head Agribusiness, Bajaj Allianz General Insurance Ashish Agarwal said that for a farmer, cattle are not just livestock but also like family members. These animals play an important role in daily agricultural operations. They generate an alternative source of income and also provide inputs for other agricultural activities. He said that just like we insure our lives, vehicles and health, we can also insure our livestock. Cows, buffaloes, goats and other livestock can be provided coverage by insurance.
Our livestock provide us immense benefits and depend on us for care. Taking an insurance policy for them provides additional security, so that they can be taken care of and importantly, our livelihood can also be secured. He said that if our animals fall sick or meet with an accident, insurance will save us from financial stress, which will strengthen our confidence in the agricultural enterprise.
If your animals suffer an unexpected accident or fall ill and despite receiving proper medical treatment, they do not recover and die, the insurance company will pay you the sum insured as per the terms of the policy, which you can use to buy new animals.
He said that if your livestock suffers permanent total disability due to any disease or accident and is unable to work in the field or give milk further, you will be compensated according to a fixed percentage of the sum insured depending on the level of their disability. This compensation is usually up to 50 percent of the sum insured. If your animal undergoes surgery due to any disease or accident, it should be done by a recognized veterinary doctor.
If the animal dies during surgery, the insurance company will pay you the cost of buying a new animal or a fixed sub-limit of the sum insured as per the policy. This coverage under cattle insurance covers the expenses associated with the consultation of a veterinary doctor when your animal falls ill. It also covers the cost of diagnostic tests prescribed by the doctor, ensuring that your livestock receives timely and appropriate medical assistance.
This is available on payment of an additional premium. Ashish Agarwal said that insurance for our animals provides an important financial security, which not only protects our money but also ensures proper care of our livestock. By covering medical expenses and the cost of bringing a new animal home in case of death, this insurance reduces the financial burden due to unforeseen expenses.
Adopting this additional care not only ensures the well-being of our animals but also relieves us from the potential burden of unforeseen expenses and strengthens our financial stability. Always ensure that you understand all the terms and conditions of insurance coverage from the insurance provider, so that you can make an informed decision and ensure peace of mind.