The deadline to enrol in the 2016 AgriStability Program is nearing and the Saskatchewan Crop Insurance Corporation (SCIC) is reminding producers of the important risk protection the program can provide. April 30, 2016, is the deadline to enrol in the 2016 AgriStability Program and pay program fees, without penalty.
The AgriStability Program is a low cost option for securing a financial foundation for the farm. The program fee is $315 for every $100,000 of the farm’s historical margin. Once signed up for AgriStability, producers can also participate in other business risk management programs, such as the Advance Payments Program.
Saskatchewan farmers and ranchers enrolled in AgriStability have access to AgConnect, the web-based platform for conducting AgriStability business. Through the secure AgConnect website producers can submit forms, review historical program information, view their detailed calculation of benefits and their Enrolment Fee/Notice. AgConnect has made it easier for producers to meet the requirements of the program and applications are processed quicker. SCIC is able to complete almost 75 per cent of the submitted files within 60 days.
To remain enrolled in AgriStability, participants have until April 30, or 30 days from the date on their Enrolment/Fee Notice, whichever is later, to pay their program fee without penalty. If the annual program fee is paid after the initial deadline date, there will be a 20 per cent penalty added to the fee amount. The final deadline to pay the fee is December 31, 2016.
Producers that want to participate in AgriStability for the first time or wish to re-join the Program must request a New Participant Package by April 30, 2016.
For more information visit a local Crop Insurance office; call the AgriStability Call Centre at 1-866-270-8450 or go to saskcropinsurance.com/agristability.
