Examine the Role Played By Micro -Insurance Sector in Economic Development of Nation

COMMERCE

Indian social security programmes and subsidised insurance programmes help the poorest citizens to get insurance coverage. Those in India who live on less than 60 rupees a day should make up the bulk of the microinsurance market. A recent decade has seen a significant increase in Micro Insurance's popularity. It has been gaining traction in our country over the last few years. Indian Micro Insurance is an economic tool that helps the poor and reduces inequality in a developing country like India. Microinsurance is a form of personal insurance aimed towards those with little financial resources. In India, 70% of the population lives in rural regions, however they do not have adequate health insurance. For low-income people, especially those in the informal economy, micro insurance provides a huge chance to acquire social protection from major commercial and social insurance programmes, which tend to be neglected.

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