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Rainfall Insurance or Varsha Bima is a type of weather based insurance which covers the reduction in crop yield that results from a lower than anticipated normal rainfall The policy period is generally the months of monsoon in India from June to October
Coverage in Rainfall insurance Policy is provided for :- It can transfer risks related to rainfall of Indian farmers to global weather markets on competitive terms. Immediate and transparent claim settlement· Low administrative costs make this a cheaper product compared to traditional crop insurance.