Starting in 2018, La Financière agricole du Québec will apply new parameters for the product Cereal and Canola, following the withdrawal of the products Grain Corn and Soybeans from the Farm Income Stabilization Insurance Program. As a result, the insurable minimum and the period for the payment of the final compensation will be adjusted.
Parameters Starting in the 2018 Insurance Year
The insurable minimum will be 10 hectares for oats, wheat, barley or canola or a combination of those crops. Grain corn and soybeans will no longer be counted in the insurable minimum.
Period for the payment of the final compensation
The insurance year will start on August 1 for all insurable categories. As a result, from now on, the first advance, made in December of the insurance year, will represent 50% of the net compensation, rather than 40%. In addition, the date of the final payment for the product Cereal and Canola will be in December of the following year, a month earlier than is currently the case.
Please contact your service centre if you would like more information.