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 How Does LRP Insurance Work?
The third chapter explains the mechanics of LRP; how the program operates. Whereas the first chapter was a more general explanation of the program, this chapter discusses how prices are established, establishing coverage, paying premiums, and receiving indemnities.
Topics covered include:
- Definitions of LRP terminology;
- How to access coverage prices, premium rates, and ending values from USDA;
- What indexes are used by USDA to determine if an indemnity would be paid;
- How to calculate total LRP premiums;
- How to collect an indemnity for LRP coverage.
Important! USDA-RMA has revised the LRP policy. The 2008 LRP Policy Updates provides detailed information regarding LRP program changes for 2008.
- To view the printed course materials and slides, you will need the Adobe Acrobat Reader
- To view the videos, you will need the free RealPlayer software available from Real.com.
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