BORONGAN CITY (PIA) -- The Philippine Crop Insurance Company - Provincial Extension Office (PCIC-PEO) has implemented the P16.8-M Coconut Farmers Industry Trust Fund - Agri Insurance Program (CFITF-AIP) to coconut farmers in Eastern Samar.
According to Ma. Adelaida C. Amos, PCIC-PEO provincial area manager, the said program is based on Republic Act. No. 11524, "An Act creating the Coconut Farmers and Industry Trust Fund - Agri Insurance Program," providing for its management and utilization.
Amos said their company was mandated to give free insurance in the amount P50,000 for each coconut farmers for every hectare of coco land through this program.
She disclosed that the fund for this program amounting to P16.8-M was allocated for Eastern Samar for the free insurance premium, in which some 16,870 coconut farmers -- land owners, tenants, owner-operators -- will benefit.
"The requirement is that coconut farmers should be registered or listed in the Philippine Coconut Authority (PCAs) Registry of Coconut Farmers," Amos said.
For registration, they can apply at the PCA office and at the Office of the Municipal Agricultural Services (OMAS) in every municipality in order to avail of the said free insurance program.
Every houshold member can avail, for example, if one family has five members, with five hectares of coconut land, they can apply the insurance per hectare, for a total amount of P250,000.
Once their insured coconut land will be affected due to natural calamities or infected by pests and diseases, they can avail the maximum area for coverage which is one hectare per farmer in the amount of P50,000, and if a calamity happened, the PCA will pay 11% up for the damage.
Also, in case of death of the coconut farmer, the PCIC will pay the principal sum of insurance, burial benefit of P2,000, and in case of hospital confinement of the insured coconut farmer due to accident, there will be medical reimbursement of actual medical expenses.
Also, in case of death (any classification of death), the family can avail of death benefit worth P10,000 from PCIC, as long as he/she is not 80 years old. The insurance is renewable.
Amos said as of October 15, 2022 there were 65 farmers who applied for this program.
The implementation of the said program is five years in which the fund is from the Coconut Levy Fund.
The PCIC, through the leadership of Amos, is encouraging the coconut famers in Eastern Samar to apply in the said program. (MMP/SDC/PIA Eastern Samar)