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Dreams come true for rice farmers

May 19, 2018 10:08 pm

A long term dream of rice farmers in Vanua Levu has now become a reality.

They can now sign up for a life insurance scheme, with a premium payment of $52 a year or $1 a week.

The bundled micro-insurance scheme has an annual combined cover of $10,000 per person.

It covers funeral expenses of $1,000 and term life, accident and dwelling house fire cover of $3,000 each.

Fiji Rice Limited Chairman Raj Sharma says farmers have always wanted some sort of insurance policy and this was discussed in a previous talanoa session with the Agriculture Minister.

Sharma says this scheme is a dream come true for them.

Pacific Financial Inclusions Programme Krishnan Narasimhan says a recent survey found that only three percent of farmers were insured and they had to create product for farmers.

Since it was launched in July last year, Cane and Dairy farmers have signed up for the scheme.

Agriculture Minister Inia Seruiratu says the product is important because it is about preparing for the things that are bound to happen.