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FAQs
Get straight-forward, informed answers to your most important insurance questions.
AgriStability
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The deadline to enrol in AgriStability each year is April 30. Producers enrolled in the Program must pay their program fees by December 31 to be eligible to receive program benefits. There is a penalty for fees paid after the April 30 deadline (or 30 days after their enrolment fee/notice), whichever is later.
To participate in AgriStability, please contact us and request a new participant package.
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This can vary from company to company, but in most cases, it is the difference between the amount the producer committed to deliver, and the actual amount they must meet for the commitments of the forward contract.
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In the event you cannot meet the obligations of the contract, you may decide to purchase inventory to fulfill the contract. The income and expense related to purchasing inventory to meet the shortfall of the contract is allowable, if the operation has the resources/capacity to produce the commodity at the amounts which are contracted.
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Yes, however, it is the shortfall between the actual production amount the producer has the ability to deliver on and the volume committed to in the forward contract which AgriStability considers allowable. In situations where producers did not produce enough grain to fulfill their contracts, they can enter the expense incurred to buy out the shortfall of their contracts under code 9836 Commissions and Levies. The shortfall represents only the quantity of the contract they were unable to fill, and not the cost to buy out the entire contract to obtain a better price.
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An interim benefit payment is an advance on your final AgriStability benefit payment. You can apply for an interim benefit if you need access to program funds before completing your program year.
Saskatchewan producers can apply for an interim benefit, by March 31, to receive 50 per cent of their estimated final benefit before completing their program year. The interim benefit is calculated based on the estimated margin decline or loss for the year when compared to the reference margin (historical average).
Please call the AgriStability Call Centre to see if you may be eligible to receive an interim benefit.
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Absolutely! SCIC encourages producers to consider participating in both Crop Insurance and AgriStability Programs as part of a comprehensive risk management plan for their farming operation.
With Crop Insurance, you have coverage for your crops from the start of seeding season until harvest is complete. Through AgriStability, you have even further coverage for other uncontrollable events throughout the year, such as, rising input costs, falling commodity prices or unforeseen additional expenses. Since AgriStability accounts for the whole farm, the Program can provide benefit payments even if you also receive a Crop Insurance payment.