In order to establish the drought weather index insurance model of summer corn, this paper analyzed the relationship between the precipitation anomaly from the male stage to the ripening stage (critical period of yield formation ) and historical yield loss based on the 1971-2010 daily precipitation data from 15 agrometeorological observation stations, proposed the standard of insurance claims of summer corn drought, and then revised the insurance rate using the result of drought risk assessment. The drought weather index insurance products of summer corn were obtained and later the insurance products were applied in Suixi County of Huaibei City, Anhui Province as an experiment. The results show that the application of weather index insurance product can basically reflect the actual drought risk of summer corn， and objectively and quickly provide the economic compensation of agricultural disaster.