The aim of the Kisan Suvidha Bima Policy is to offer a single Package Policy principally to farmers and rural householders involved in agriculture. Through this rural insurance policy in India, they can avail comprehensive insurance protection for their entire assets, interests and risks of Critical Illness or Personal Accident for self and family.
This insurance policy comprises of 6 Section:
Section 1 provides insurance for the contents of the household against the perils mentioned in the Standard Fire and Special Perils Policy, including Earthquake.
Section 2 provides insurance to household items covered in Section 1 Part A against the risks of burglary, housebreaking and allied perils.
Section 3 provides insurance to the stocks of farm produce lying in the insured household that was stored for sale. This cover is only against the risk of Fire and Allied Perils and Burglary and House Breaking Perils. An important to note here is that for instances where the stocks are lying in the open, Housebreaking risks/Burglary or damages by rainwater shall not be covered by this rural insurance policy.
Section 4 provides insurance to the insured and/or his/her family members against death or sudden accidents causing permanent total and permanent partial disability (Table B of P.A. cover).
Section 5 provides insurance to the insured and/or his/her family members against specific Critical Illnesses that require hospitalization. It is important to note that this coverage is provided on a Reimbursement Basis only.
We may cancel this Policy by sending 15 days’ notice in writing by Regd. A.D. to You at Your last known address. You will then be entitled to a pro-rata refund of premium for the unexpired period of this Policy from the date of cancellation, which We are liable to repay on demand. You may cancel this Policy by sending a written notice to Us. We will then arrange a refund after retaining the premium based on the following Short Period scale.
Within One Week of inception of cover
25% of premium
Beyond One Week of inception of cover but within 15 days of inception of cover.