Has it been a while since you reviewed the Livestock Risk Protection policy with an FCS Financial agent? If so, it is worth your time to look again! In 2020 the Federal Crop Insurance Corporation’s Board of Directors approved numerous changes for the LRP insurance program to be implemented in phases.
Changes already implemented for Feeder Cattle, Fed Cattle and Swine include:
- Premium can be paid at the end of the endorsement. In the past, premium was due as soon as coverage was put in place.
- Two different increases in subsidy which have led to sizeable adjustments for producers who are “in compliance” with NRCS/FSA.
|
Coverage Level Span |
Current Subsidy Rate |
Previous Subsidy Rate |
| 70% - 79.99% | 55% | 35% |
| 80% - 84.99% | 50% | 35% |
| 85% - 89.99% | 45% | 35% |
| 90% - 94.99% | 40% | 30% |
| 95% - 100% | 35% | 25% |
Changes we expect to be released soon:
- Increased head limits for Feeder Cattle, Fed Cattle and Swine.
- Modifications to the livestock ownership requirement.
- Modification of the policy to allow for feeder cattle and swine types of livestock to be insured before birth.
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