Soybeans

You can insure soybeans if:

• They are grown on insurable acreage;
• Premium rates are provided;
• You have a share; and
• They are planted for harvest as beans.

You are protected against the following:

• Adverse weather;
• Earthquake;
• Failure of irrigation water supply;
• Fire;
• Plant disease and insects, unless you have insufficiently or improperly applied pest or disease control measures;
• Volcanic eruption; or
• Wildlife.

Coverage begins on the later of:

• The date we accept your application; or
• The date you plant the soybeans.

Coverage ends at the earliest of:

• Total destruction of the crop;
• Harvest of the crop;
• Final adjustment of a loss;
• Abandonment of the crop; or
• December 10, 2018.

• Sales Closing / Cancellation Date…………March 15, 2018
  
• Final Planting………… Varies by county
• End of Late Planting Period …………Varies by county
  
• Acreage Report………… July 15, 2018

Crop insurance premiums are subsidized as shown in the following table. For example, if you select the 75 percent coverage level for an Enterprise Unit, the premium subsidy is 77 percent and your premium share is 23 percent of the base premium.

Projected Price - (for yield and revenue protection) Based on the Chicago Board of Trade December Futures Contract from February 1, 2018 to February 28, 2018.

Harvest Price - Based on the Chicago Board of Trade December Futures Contract from October 1, 2018 to October 31, 2018. Protects you when fall prices are above the projected price.

Yield Protection (YP) - Only protects against a production loss.

Revenue Protection (RP) - Protects against loss of revenue due to a production loss, change in price or a combination of both.

Revenue Protection with Harvest Price Exclusion (RPHPE) - Protects against loss of revenue due to a production loss, price decline or a combination of both.

Area Risk Protection Insurance (ARPI) - Offers three insurance plans based on experience from an area, generally a county, rather than your actual yield. Replaces GRP/GRIP.

Catastrophic Coverage (CAT) - Pays 50 percent of your average yield and 55 percent of the projected price. CAT has no premium but does have a $300 administrative fee per crop per county.

Margin Protection (MP) - An area based plan that protects against an unexpected decrease in operating margin. Can be purchased by itself or in conjunction with YP or RP plans with the same Insurance Company. Sales Closing Date for MP is September 30.

Replant Provisions - You may receive a replant payment if:

• It is practical to replant;
• The appraisal does not exceed 90 percent of your guarantee; and
• You replant at least 20 acres or 20 percent of the unit.

It will be considered practical to replant within or prior to the late planting period unless the insurance company determines otherwise.

Replant payments are not available on CAT or ARPI policies.

Late Planting Period - If you choose to plant after the final planting date, your insurance guarantee is reduced by one percent for each day after the final planting date. After 25 days, your guarantee is 60 percent.

Prevented Planting - You may receive a prevented planting payment if you are unable to plant on or before the final planting date because of an insurable cause. Prevented planting is not available for all plans of insurance. See a crop insurance agent for details.

This example assumes 75 percent coverage level on a Revenue Protection with Harvest Price Exclusion plan, an average yield of 50 bushels per acre, and 100 percent share. The projected price is $8.85 and the harvest price is $9.75. Harvest resulted in 2,500 bushels of soybeans.