Benefits of WFRP:
In some cases, you can access increased credit with WFRP
Allows for expanded operations and further diversification
Contains eligibility for ALL commodities
Covers revenue generated from livestock
How it works:
All commodities on the farm are insured under one policy.
WFRP can be stand alone or act as an umbrella to an MPCI campaign.
You may insure 50-85% of the calculated Allowable Revenue.
Allowable Revenue is the lessor of the Current Expected Revenue vs. Historical Revenue (average five-year Schedule F Revenue).
Claims are settled after taxes are filed for the insurance year.
Comparison Example
Expected Corn Revenue:
$680/acre x 524 acres = $356,230
Expected Soybean Revenue:
$391/acre x 450 = $175,950
Expected Cow/Calf Revenue:
150 head x $1.50/head gain = $100,940
Total Revenue: $633,120
WFRP Guarantee (at 85%): $538,152
