Livestock Insurance

An insurance policy providing coverage for losses and damages due to the death or injuries of livestock. Pakistan is an agricultural country, with more than 50% of the population residing in farming areas, and our economy is based on it, which is directly or indirectly linked to livestock. For the protection of one’s livelihood, livestock insurance companies in Pakistan provide their services.

What we are Giving

United Insurance provides suitable coverage plans for livestock insurance. These coverages are as follows:
  • Financial protection against mortality, theft, and disability of the insured animals, including the risk of calving.
  • Contributes approximately 11.39% to the national GDP.
  • Provides important dietary products like milk, meat, and processed dairy items.
  • Provides hides and skins for the leather industry.
  • Has the potential for rapid growth and fast economic returns.
  • Proper awareness and care of livestock.
  • Financial assistance in case of livestock death.
  • Increased profit due to healthy livestock.
  • Proper guidance and support in case of livestock sickness.
  • Provision and use of modern methods of caring for livestock.

What’s Covered

  • Intimation letter in writing within 24 to 48 hours.
  • Claim form.
  • Attested photocopy of the NIC card of the owner/borrower.
  • Veterinary certificate.
  • Postmortem examination report.
  • VA will take 4 photographs clearly showing the tag number and will cut the tag.
  • The skin amount will be deducted from the claim as per policy terms and conditions. Animal skin will not be removed in cases of diseases like anthrax.

The borrower should take the following steps:

  1. 4 photographs clearly showing the tag number and the tag cut.
  2. The dead animal must be deeply buried.
  3. The cost will be reimbursed to the insured.
  • All claims are filed on a simple, easy-to-fill form by the employee, duly endorsed by the employer or nominee.
  • Original prescription bills, receipts, etc., should be attached.
  • Direct settlement of claims with panel hospitals.
  • All claims should be filed within four (4) weeks.
  • Mandatory for all livestock advances.
  • The bank will provide all required details on the specified proposal form along with a Demand Draft to the insurance company.
  • The bank manager is required to issue an undertaking in case of delay in premium payment for new/renewal cases.
  • The bank manager may take the signature of the borrower on the respective Iqrar Nama upon disbursement of the loan.
  • Acceptance letter.
  • Loss voucher.
  • Claim form.
  • Surveyor’s assessment report.
  • Any other relevant documents.
  • After receiving the above documents from the bank and surveyor, the company will issue the claim cheque within 30 days.

The insurance company will issue a policy subject to:

  • Receipt of complete information.
  • Payment of premium.
  • The VA will visit the site for tagging and verification based on the information provided by the bank manager.
  • If the tag/ring is dropped, broken, or misplaced, the borrower should immediately inform the company as well as the bank branch so the VA can retag the animal.
  • The livestock policy will be valid for one year.

Click on the Link below to download Livestock Proposal Form.

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Frequently Asked Questions

What is Livestock Insurance?
Livestock insurance provides financial protection against losses due to death, theft, disability, or diseases affecting insured animals, including risks associated with calving.
Why is Livestock Insurance important for farmers in Pakistan?
Livestock is vital to Pakistan’s economy, contributing 11.39% to the GDP and providing essential products like milk, meat, and leather. Livestock insurance helps protect farmers' livelihoods by covering risks that could severely impact their income.
Who is eligible for Livestock Insurance?
Livestock insurance is mandatory for all farmers receiving livestock loans from banks in Pakistan.
What animals are covered under Livestock Insurance?
All livestock for which a bank is advancing a loan to its borrowers is covered under livestock insurance.
What benefits does Livestock Insurance provide?
Livestock insurance offers financial assistance in case of death, promotes proper care of animals, provides guidance on sickness, and encourages the use of modern caretaking methods, leading to healthier livestock and increased profits.
What is the procedure for filing a claim in case of livestock death?
The borrower must notify the insurance company in writing within 24 to 48 hours and submit a claim form, NIC copy, veterinary certificate, postmortem report, and photographs of the dead animal with the tag cut.
What documents are required for claim settlement?
Required documents include an intimation letter, claim form, NIC copy, veterinary certificate, postmortem report, and photographs showing the tag number.
How long does it take to settle a claim?
Once all the necessary documents are received, the insurance company will issue the claim cheque within 30 days.
What percentage of the loss is covered under the insurance policy?
The policy provides 80% indemnity, meaning the insured bears 20% of the loss, along with the cost of the animal's skin.
What happens to the animal's skin in case of death?
The cost of the skin is deducted from the claim, except in cases of diseases like anthrax, where the animal’s skin is not removed.
What risks are covered under Livestock Insurance?
Livestock insurance covers mortality due to natural perils, fire, theft, poisoning, diseases, and risks associated with calving.
Does Livestock Insurance cover the death of an animal due to diseases?
Yes, the policy covers death due to diseases, including major health risks that may affect livestock.
Is theft of livestock covered under this insurance?
Yes, theft of insured livestock is covered under the policy, providing financial protection for the farmer.
Are disabilities caused by accidents covered under Livestock Insurance?
Yes, disabilities resulting from accidents are included in the coverage, along with mortality and other risks.
Is calving a covered risk under Livestock Insurance?
Yes, risks associated with calving, including the death or disability of the animal during or after calving, are covered.
How long is a Livestock Insurance policy valid?
The livestock insurance policy is valid for one year and needs to be renewed annually to maintain coverage.
What is the process for renewing Livestock Insurance?
To renew the policy, the bank manager must provide updated information and payment details to the insurance company. The VA may visit the site to verify the animals.
What happens if the animal’s tag gets broken or misplaced?
If the tag or ring is dropped, broken, or misplaced, the borrower must immediately notify the insurance company and the bank so the VA can retag the animal.
Can I renew my policy after it expires?
Yes, the policy can be renewed, but the bank manager may need to issue an undertaking in case of delays in premium payment for renewal cases.
Is there any penalty for late payment of the renewal premium?
The bank manager is required to take responsibility and may issue an undertaking in case of delayed premium payments to avoid any lapse in coverage.

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