What is Rural Insurance?
Rural insurance covers the rural population from loss to cattle, crops, adverse farming conditions, etc. It is a specially designed policy to cater to the needs of Rural India. The amount of premium payable in case of rural insurance is usually subsidised and is available for tax exemption.
Rural insurance ensures the families living in rural areas to have a safe and secure future, and ultimately enable them to lead a happy life. The insurance covers the risks related to various aspects of their life, and it's obtained at affordable premium rates with a quicker claim process.
Types Of Rural Insurance
Rural insurance has a wide range of plans that cover various sections as mentioned below:
Motor Insurance: This is comprehensive coverage crafted for agricultural vehicles like tractors, cars, scooters, trailers and motorcycles.
Property Insurance: This plan covers shops, home, retail outlets, schools and agricultural equipment.
Accident Insurance: This insurance covers accidental death, partial, or total disability of the insured.
Livestock Insurance: This insurance protects cattle against death or disability.
Health Insurance: This is personal accident insurance and Mediclaim for the insured.
Poultry Insurance: This plan protects broilers and parent stock of chicken.
What Rural Insurance Covers?
Since rural insurance relates to the lifestyle risks of people residing in rural villages, the insurance covers the following products:
How Rural Insurance Functions?
It’s vital to understand rural insurance and its functions to obtain the best deals:
Companies Offering Rural Insurance in India
Here is a list of few companies in India that provide rural insurance, which has invented keeping in mind the various sections of rural India:
Advantages of Buying Rural Insurance
Some benefits of opting for rural insurance are: