Summary |
The book reveals that microinsurance have proved to be quite effective in bringing about improvements among the low-income people. Positive effects that have been noticed including improvement in standard of living, providing education to children, protection against seasonality etc. But the problem persist.
The insurance market in these districts is highly concentrated; there are only a few providers that dominate and restrict the entry of others. Although the providers have achieved growth, its penetration into the territory of the poorest of the poor is still quite minimal. low-income household struggle to save they prefer the traditional forms of savings. High premium amount, inflexibility in collection of premium, claim settlement is among other factors that appear to have a preventive effect upon respondents in choosing microinsurance as a savings option. but more and more players are entering the market and providing an active role. The outlook is cautiously optimistic.
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