Coconut Palm Insurance Scheme: What Is It And How Does It Help The Farmers?

The Coconut Palm Insurance Scheme (CPIS) is a government scheme unveiled by the Coconut Development Board of India under the Ministry of Agriculture and Farmers Welfare. This sarkari yojana aims to provide insurance coverage to coconut farms against diseases, natural disasters and other risks that threaten coconut palms.

Let’s understand this government scheme for farmers in detail, along with how it connects to other initiatives like the Unified Package Insurance Scheme and the Kera Suraksha Insurance Scheme implemented in different states.

Latest Update

The Coconut Development Board, along with state agriculture departments, has recently strengthened CPIS implementation in coastal states due to increased climate-related risks like cyclones, floods and long dry spells. More districts have been added, especially under the Coconut palm insurance scheme Kerala, the Coconut palm insurance scheme in Karnataka and the Coconut palm insurance in Tamilnadu.

Several states have also simplified documentation and encouraged farmers to enrol in multi-year policies under CPIS and related schemes like the Unified Package Insurance Scheme.

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Objectives Of The Coconut Palm Insurance Scheme

The main objectives of this scheme are to safeguard Coconuts and Palm Trees. The main objectives of the Coconut Palm Insurance programme include:

• In ensuring coconut palms, be it against natural calamity, diseases and other risks that may cause damage or death, make sure the coconut farmers aren’t facing any loss due to this.

• To provide relief to farmers on time to minimise the loss of income faced by them due to the sudden damage and death of the palm trees

• To promote replanting and ensure that coconut farming is done in numbers to increase production and in turn, increase the gain of revenue.

These objectives align closely with other schemes like the Kera Suraksha Insurance Scheme active in Kerala.

Benefits Of The Coconut Palm Insurance Scheme

The Coconut Palm Insurance Scheme (CPIS) offers several financial and long-term benefits, which focus on the financial assistance, but the few and important ones are listed below:-

• A guaranteed amount ranging between Rs. 900 (Palm aged 4-15) to 1750 (Palm aged 16-60) is provided to the coconut farmer depending on the palm's age group at the time of death or damage. This amount is paid as compensation.

• A premium government subsidy of up to 75% is provided, with 50% of it being provided by the Coconut Development Board and the rest 25% being provided by the participating state governments. This in turn helps reduce the financial burden being imposed upon the farmers.

• Coconut farmers are provided with an option for a multi-year policy at significantly discounted and premium rates which allows them to insure their palms for 2 or 3 years at one go at reduced costs. This helps them cut down future costs and financial liabilities as they are insuring it all at once for the foreseeable future.

• Farmers are provided with an easy claim settlement within just a month if all the procedures are followed properly with the submission of the required documentation. This helps them to cope with losses more easily due to the insurance taking minimal time to be claimed.

Some state variations, like the Coconut palm insurance scheme Kerala, offer additional benefits under the Kera Suraksha Insurance Scheme, making coconut cultivation more secure.

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Who Are Eligible For The CPIS Initiative?

To be eligible for the Coconut Palm Insurance Scheme (CPIS) one needs to be stand on the points below:-

• To be insured under the CPIS, the healthy nut-bearing palm tree must be between the ages of 4 and 60, anything above or below shall not be eligible for a claim at the time of death or damage.

• The minimum number of palm trees that can be insured in an area or plot must be 5 that fall under the age group mentioned above to be eligible.

• The coverage for dwarf and hybrid varieties starts from 4 years, whereas, for the tall varieties it starts from 7 years.

• The whole area where the palm trees are cultivated can be insured, meaning that partial insurance or a selected part of the area cannot be considered for insurance under the CPIS scheme.

Eligibility guidelines in states like Karnataka and Tamil Nadu are similar under the Coconut palm insurance scheme in Karnataka and Coconut palm insurance in Tamilnadu programmes.

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List of Documents Required For The Coconut Palm Insurance Scheme

Preparing the necessary documents in advance ensures a smoother and quicker application process. Farmers must keep the following documents ready:

• Identity proof (Aadhaar card / Voter ID)

• Land ownership documents or cultivation records

• Details of palm trees (age, number, type)

• Bank account details for receiving compensation

• Recent passport-sized photographs

• Any additional documents required by the local agriculture office