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What is Covered?
Index Based Livestock Takaful (IBLT) protects against prolonged lack of pasture ONLY as a result of severe drought. It helps pastoralists keep their livestock alive during a severe drought season.
The Index
Good pasture availability. Represents above the 70th percentile of pasture conditions over time. This is above normal and stable pasture condition
The index is a measure of pasture availability that is recorded by satellites, called the Normalized Difference Vegetation Index (NDVI).
- Good pasture availability. Represents above the 70th percentile of pasture conditions over time. This is above normal and stable pasture condition.
- Pasture condition falls between 50th to 70th percentiles. The pasture situation is around or slightly above normal.
- Pasture condition falls between 50th to 70th percentiles. The pasture situation is around or slightly above normal.
- Forage condition is between 35th and 50th percentile. The division in question is under considerable stress and below long term average but conditions are not yet serious.
- Forage condition is between 20th – 35th percentiles. Drought situation is serious but not yet classified as severe. Indemni payout will not be triggered.
-Severe drought condition. Pasture condition represents worst below 20th percentile and below. Indemnity payout will be triggered if conditions persist throughout the season up to the potential payout period.
What Animals Are Covered
Cattle
Camel
Sheep
Goat
Who Can Insure:
Any person shall be eligible for coverage under this Policy provided that at the date of application:
• They own the insurable livestock
• Their premium is fully paid
Note that during a payout, payment will be made based on the weather division where you are insured, not the current location of your herd.
Conditions For The Payouts To Be Made
Insured pastoralists are not always paid when there is a drought. They are only paid
when a drought is so severe, that the amount of available pasture falls within the
20th percentile. Pastoralists who have not paid premiums are not covered by the
Takaful Livestock Cover, and will not receive payments, even during severe drought.