Lesson Notes By Weeks and Term - Senior Secondary School 3

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  4. Agricultural insurance

Term: 1st Term

Week: 4

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Agriculture

Topic:-      Agricultural insurance

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Explain the meaning of agricultural insurance
  2. State the importance of agricultural insurance
  3. Explain some agricultural risks

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on Capital market

Students pay attention

STEP 2

EXPLANATION

She explains the meaning of agricultural insurance

 

Students pay attention and participates

STEP 3

DEMONSTRATION

She states the importance of agricultural insurance.

She further explains some common agricultural risks encountered by farmers

 

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

AGRICULTURAL INSURANCE

Agricultural Insurance is a valuable business risk management tool that provides farmers with financial protection against production losses caused by natural perils, such as drought, excessive moisture, hail, frost, wind and wildlife.

IMPORTANCE OF AGRICULTURAL INSURANCE

  1. Agricultural insurance plays an important role in simulating investment in agriculture and in stabilizing famers’ income.
  2. Insurance can assist farmers in accessing new opportunities by improving their ability to borrow either in cash or in kind as credit facilities.
  3. With the security of insurance, the farmers might be more willing to take a chance with efficient technology as his risks are now being shared.
  4. It stimulates investment in agriculture
  5. It boosts farmers willingness to take chance with efficient technology.

 

SOME COMMON AGRICULTURAL RISKS

  1. Human or personal risk: The farm operator can get health problems or even die.
  2. Asset risk: This includes theft, fire and other damage or loss.
  3. Production or yield risk: Most of the time the weather is responsible, but it also includes risks like plant and animal diseases.
  4. Price risk: risk resulting from fall in price after production modification has been done
  5. Institutional risk: this is associated with policy changes which can have negative impact on production and farm revenue
  6. Financial risk: this refers to the possibility of increase in interest of a mortgage, insufficient liquidity and loss of equity

EVALUATION:   1. Explain the meaning of agricultural insurance

  1. State the importance of agricultural insurance
  2. Explain some agricultural risks

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively