Over 53 trillion coco farmers get free insurance from PCIC
CEBU, Philippines — A total of 53,780 coconut farmers in Central Visayas have secured their livelihoods through free crop insurance under the Philippine Crop Insurance Corporation (PCIC) program this year.
Funded by the Coconut Farmers and Industry Trust Fund (CFITF), this insurance program was valued at P23 million in total premium subsidies, which provides crucial support to farmers without requiring them to pay for coverage.
Maria Ccarisa Adriatico, Officer-In-Charge of Marketing and Sales of PCIC-7, shared during an interview over Radyo Pilipinas that this initiative covered a total of 29,810 hectares of farmland with 46,090 coconut trees.
This insurance program is eligible for a maximum coverage of P50,000 per hectare, with a limit of 100 trees, equivalent to P500 per tree.
Adriatico said the target for 2024 was initially pegged at 30,726 farmers, but the number has exceeded expectations due to the inclusion of small-scale farmers.
“Wala namo balibari ang ginagmay kay mas gikinahanglan sa marginal farmers ang ayuda sa atong kagamhanan,” said Adriatico.
Adriatico emphasized that the insurance program is a good support tool, especially for small and marginal coconut farmers for they do not have to pay premiums from the Coco Levy Fund.
On the other hand, PCIC information officer Fred Simeon noted that they have considered those farmers that got affected by natural calamities such as typhoons or the coconut trees that were infected by pests like Brontispa longissima or leaf beetles. If any of these happens, farmers are required to file a notice of loss within three days and submit supporting documents to PCIC not later than 30 days for indemnity claims.
In addition, Adriatico also noted that coconut farmers can also receive an Automatic Death Benefit (ADB) of ?10,000 in case of their death during the policy's coverage period.
The ADB no longer requires an age limit, expanding the safety net for all insured coconut farmers as long as their policy is still covered.
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