TeachMeFinance.com - explain Group Risk Income Protection (GRIP)
Group Risk Income Protection (GRIP) The term 'Group Risk Income Protection (GRIP) ' as it applies to the area of agriculture can be defined as ' A county-based revenue insurance program, that is a variation of Group Risk Protection (GRP). GRIP pays a participating producer when the county revenue per acre for an insured crop falls below a trigger revenue selected by the insured producer, regardless of the actual revenue level of the individual producer. It is available on a limited basis where GRP is currently available'.
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