Research Paper #6 observes the feasibility of implementing area yield insurance and weather insurance schemes for transferring financial risk and managing production risks. The objective included developing a composite insurance product based on normalized difference vegetation index (NDVI) and weather indices via a participatory approach; testing the yield loss estimation accuracy of such a product; and understanding people`s perceptions about the performance of the product. A relationship was found between the uptake of insurance and being above poverty line, subject to the buyer having heard about the insurer earlier, expecting a bad cropping season ahead, and having a close friend who has availed of the insurance scheme.