Sugarcane farmers now have greater financial security with the launch of the new Mortgage Protection Cover, unveiled yesterday at the 2025 Annual Farmers Open Day at Kotonivere Grounds in Labasa.
The scheme, which is a partnership between the Sugar Cane Growers Fund (SCGF) and Capital Insurance Company Ltd, will protect farmers and their families from financial hardship by covering mortgage balances in the event of death or total permanent disability.
Minister for Multi-Ethnic Affairs and Sugar Industry, Charan Jeath Singh says this initiative puts farmers at the heart of national development efforts.
He adds the initial premiums will be fully covered by the SCGF.
Singh emphasises that this cover is a vital safety net for farmers, ensuring their families are protected from financial burdens during difficult times.
The CEO of Capital Insurance, David Ariff Chan says the partnership is a promise to stand by farmers and provide reassurance when life is uncertain.
The insurance covers all SCGF loans — including Specialized, Priority, and CDRF loans — up to $50,000 for performing loans, and offers coverage up to 70 years of age.
Farmers will benefit from 100 percent premium payment by SCGF between 2025 and 2027, with a sustainable model that will gradually involve growers contributing to their insurance costs by 2030.
The Ministry says this scheme reinforces the government’s commitment to supporting sugarcane farmers and strengthening the sugar industry.
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