The Camas Hot Springs Exchange

DEFERRED CROP INSURANCE PLAN
NEW PROPOSAL OFFERED WHEAT GROWERS OF COUNTRY FOR INITIAL TIME

A deferred payment plan for the new three-year crop insurance contract offered wheat growers the first time this year has been announced by the department of agriculture.

Payment of the premium in annual installments (usually about harvest time) is permitted, thus obviating the need for an immediate cash outlay for the entire insurance period when the contract is signed, Leroy K. Smith manager of the Federal Crop Insurance Corp., explained.

"Each installment on the premium," Smith said, "will be payable in wheat or the cash equivalent on or before the date each installment payment is due. The dates installments become due will vary from state to state. Generally, these due dates will be about harvest time.

"If installments are not paid when due, the insured grower, under terms of his contract, allows the corporation to deduct the amount of the installment from his indemnity, if any; from payments due him for co-operating in the national farm program, or from any commodity loan he might obtain under any loan program administered by the secretary of agriculture."

Growers may make one payment covering premium installments for the first two of the three crop years embodied in the contract if they choose. The corporation is not permitted by law to accept such payments for more than one year in advance.

Collection of installments is provided for by the commodity note, a part of the three-year contract.

Although the contract specifies insurance protection against all unavoidable hazards such as drouth, wind, flood, insects and other similar hazards for three years, growers may cancel the last year of the insurance upon written notice to their local AAA committees on or before the final day for accepting contracts during the second year of the contract period.

No one-year contract will be written on the 1943 wheat crop.