As the March 15
deadline for purchasing, changing or canceling federal crop insurance
approaches, COUNTRY Financial recently highlighted the options available to
Illinois farmers and landowners.
“Farmers can further
reduce risk by developing a grain marketing plan,” said COUNTRY Financial Vice President
of Commercial Lines and Agribusiness Operations Sheri Bane. “Our financial
representatives and crop specialists partner with AgriVisor LLC, a joint
venture of GROWMARK Inc. and the Illinois Agricultural Association, to help
farmers with market analysis and to secure grain contracts.”
Federal crop
insurance is an important tool for farmers to protect against a potential loss
of revenue or yield. Farmers who do not update, purchase or cancel their
insurance by March 15 will maintain the same coverage they had in 2016.
“Federal crop
insurance is a complex product and farmers have different needs,” Bane said.
“We recommend farm operators and managers meet with certified federal crop
representatives to compare products and decide which policy is best for their
situation.”
COUNTRY Financial
offers the following crop revenue products, which offer protection from crop
prices and yields: Revenue Protection (RP), Revenue Protection with the Harvest
Price Exclusion (RP-HPE), Area Revenue Protection (ARP), Area Revenue
Protection with the Harvest Price Exclusion (ARP-HPE) and Whole Farm Revenue
Protection (WFRP). Additionally, the company offers Yield Protection (YP) and
Area Yield Protection (AYP) policies that protect against a loss of production.
