Agents: Keying Whole Farm Revenue Protection (WFRP) Policy

This guide provides a step-by-step process for agents to effectively navigate the Whole Farm Revenue Protection (WFRP) policy. Viewing this guide will enhance your understanding and proficiency in managing WFRP policies, leading to better service for clients.

Justin Rexing
44 steps
5 minutes

Agrisompo

Navigate to <https://agrinet.agrisompo.com/policy> and sign in with Duo.

Click the correct crop year to work in.

Click the "Search Insured or Policy" field and key the insured name or policy number and search.

Click the Insured's name.

Create a New WFRP Policy

Click "Actions" tab.

Click "Add Policy".

Select the agent from the "Agent" drop down.

Select the "Whole Farm Revenue Protection" option from the "Policy Type" dropdown.

Select the correct state from the "State" drop down. NOTE: If farming in multiple states, need to select the state with the largest amount of revenue.

Select the correct county from the "County" drop down. NOTE: Need to select the county within the selected state with the largest amount of revenue.

Select the "Whole Farm Revenue Protection" option from the "Commodity" drop down.

Click the correct "IRS Accounting Method".

Click "Save"

Click the "Edit" button on the commodities tab.

Click the "Edit" button from the Crop Summary tab.

Key Base Coverage

Select the coverage level from the "Coverage Level" dropdown.

Select any options available from the "Options" dropdown.

Click the "MPCI Liability" field and enter any primary MPCI policy indemnity to be associated with this WFRP policy.

"Prior Year Revenue" is only required if a renewal WFRP Policy. If a first year policy, leave this box blank. Once all entries have been made, click "Save".

Click "MPCI Policies" tab.

If there is an associated MPCI policy, add that information here. Click "Add MPCI Commodity" and key the information in the respected boxes.

Add Tax History (Schedule F)

Click "Tax History" tab.

NOTE: Expenses no longer need to be keyed per the RMA, Income only.

The tax history tab has the Schedule F boxes that can be keyed for each individual previous crop year. Start entry by choosing the Filing Status, and then keying the Income boxes on the Schedule F. NOTE: If Fiscal Year is chosen, enter the "Fiscal Year Start" date box. NOTE: If "Expanded Operations" and or "Opt Out Indexing" need to be selected, do so at this time.

Click "2022" and key the Schedule F information.

Click "Save".

If a Schedule F isn't available, key the Income amount directly by turning off the "Calculate" box. Do this by clicking this checkbox. NOTE: Schedule F will be required for claims process.

Click this number field, and key the corresponding year's taxable income.

Repeat either process for the remaining years.

Once all 5 previous years income have been keyed, click "Save"

Click "Close".

Add Commodities

Click the "Actions" tab.

Click "Add Commodity".

Key all required boxes, "Cost Basis" and "Description" are optional; however, recommended if information is provided. Once all keyed, click "Save".

Click "Close"

Click "Actions"

Click "Add Commodity".

Key all required boxes, "Cost Basis" and "Description" are optional; however, recommended if information is provided. Once all keyed, click "Save".

Click "Close"

Click "Actions"

Click "Rate Policy"

Screenshot of a rated estimate.

Print Applicable Forms

To print available forms, click the "Printer" icon.

Click "Whole Farm" from the left column.

Click the form/report from the right column to print and follow the prompts to download.

Agents: Keying Whole Farm Revenue Protection (WFRP) Policy

Justin Rexing
44 steps
5 minutes

Agrisompo

Navigate to <https://agrinet.agrisompo.com/policy> and sign in with Duo.

Click the correct crop year to work in.

Click the "Search Insured or Policy" field and key the insured name or policy number and search.

Click the Insured's name.

Create a New WFRP Policy

Click "Actions" tab.

Click "Add Policy".

Select the agent from the "Agent" drop down.

Select the "Whole Farm Revenue Protection" option from the "Policy Type" dropdown.

Select the correct state from the "State" drop down. NOTE: If farming in multiple states, need to select the state with the largest amount of revenue.

Select the correct county from the "County" drop down. NOTE: Need to select the county within the selected state with the largest amount of revenue.

Select the "Whole Farm Revenue Protection" option from the "Commodity" drop down.

Click the correct "IRS Accounting Method".

Click "Save"

Click the "Edit" button on the commodities tab.

Click the "Edit" button from the Crop Summary tab.

Key Base Coverage

Select the coverage level from the "Coverage Level" dropdown.

Select any options available from the "Options" dropdown.

Click the "MPCI Liability" field and enter any primary MPCI policy indemnity to be associated with this WFRP policy.

"Prior Year Revenue" is only required if a renewal WFRP Policy. If a first year policy, leave this box blank. Once all entries have been made, click "Save".

Click "MPCI Policies" tab.

If there is an associated MPCI policy, add that information here. Click "Add MPCI Commodity" and key the information in the respected boxes.

Add Tax History (Schedule F)

Click "Tax History" tab.

NOTE: Expenses no longer need to be keyed per the RMA, Income only.

Click "2022" and key the Schedule F information.

Click "Save".

If a Schedule F isn't available, key the Income amount directly by turning off the "Calculate" box. Do this by clicking this checkbox. NOTE: Schedule F will be required for claims process.

Click this number field, and key the corresponding year's taxable income.

Repeat either process for the remaining years.

Once all 5 previous years income have been keyed, click "Save"

Click "Close".

Add Commodities

Click the "Actions" tab.

Click "Add Commodity".

Key all required boxes, "Cost Basis" and "Description" are optional; however, recommended if information is provided. Once all keyed, click "Save".

Click "Close"

Click "Actions"

Click "Add Commodity".

Key all required boxes, "Cost Basis" and "Description" are optional; however, recommended if information is provided. Once all keyed, click "Save".

Click "Close"

Click "Actions"

Click "Rate Policy"

Screenshot of a rated estimate.

Print Applicable Forms

To print available forms, click the "Printer" icon.

Click "Whole Farm" from the left column.

Click the form/report from the right column to print and follow the prompts to download.