Micro Insurance opportunity for Growth. A Study with Reference to Kollam District, Kerala
| International Journal of Economics and Management Studies |
| © 2016 by SSRG - IJEMS Journal |
| Volume 3 Issue 4 |
| Year of Publication : 2016 |
| Authors : Shaji. A.S, Dr. R. Neelamegam |
10.14445/23939125/IJEMS-V3I4P104
How to Cite?
Shaji. A.S, Dr. R. Neelamegam, "Micro Insurance opportunity for Growth. A Study with Reference to Kollam District, Kerala," SSRG International Journal of Economics and Management Studies, vol. 3, no. 4, pp. 8-12, 2016. Crossref, https://doi.org/10.14445/23939125/IJEMS-V3I4P104
Abstract:
Insurance is a primarily a social device adopted by civilized society for mitigating the incidence of loss of income to families by unforeseen contingencies. Risk and uncertainty are incidental to life. Man may meet and untimely death. He may suffer from accident and become disabling to earn in their old age also. The trinity, Viz., death, disability and old age lead to the economical death of an individual. Indian insurance industry has begun a new phase with liberalization of the sector. The awareness on insurance in rural India is low. There is a pressing need for increased awareness, suitable rural insurance product, effective distribution system and importantly, orientation of insurance product towards financial risk protection. The concept of micro insurance bridges the gap and goes a long way to provide for workable and sustainable solution to protect the poor from the aforesaid risks. Microinsurance has the lowest premium and low coverage insurance policies for people with low income. The objectives of micro insurance are providing economic security to low income people.
Keywords:
Micro Insurance, E-Insurance & risk shearing.
References:
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