MICRO INSURANCE

Dr. B.R.Roy
Manager,
Technical Dept,Head Office

MICRO INSURANCE
salient features
Low premium & low caps low
coverage limits.
Sold as part of atypical risk
pooling & marketing
arrangements.
Service to low income people.
Served by typical social or
commercial insurance schemes.
Small financial transaction.

Micro Insurance
Products
Health insurance (illness,
injury, death)
Property risks (Damage or
loss)
Address to Crop insurance,
livestock/ cattle
Theft risk/fire risk, disability
insurance,Insurance of natural
disaster.

Micro insurance delivery

models
A) Partner Agent model
B) Provider driven model.
C) Full service model.
D) Community based model.

Adaptation by National
Based on IRDA(Micro insurance)
Regulation , National has
designed a blue print of Micro
insurance :
The product designed having the
Sum Insured minimum Rs.5000/and maximum Rs.30,000/-for
property &health,PA Rs 10,000/- to
50,000/-

Universal Health Insurance

Policy (UHIS
Premium Rate :
Individual Rs.300/Family of 5 members Rs.450/Family of 7 members Rs.600/SubsidY for BPL families ; Rs.200, 300/& 400/* No service Tax is applicable

Gramin Suswathya Micro

Insurance Policy
Sec I Rs 25,000/- on family floater
basis
maternity Rs. 1,000/,Rs.5000/Sec II PA (death) for insured & spouse
for Rs.25,000/- &Rs.3000/- OPD
Premium : I Rs.300/1+1 - Rs.350/1+1+1 - Rs.400/1+1+2 - Rs.440/1+1+3 - Rs.480/-

Gramin Suraksha Micro

Insurance Policy
Sec I Building & contents
(ex.jewelry )against fire and allied
perils for Rs.10,000/ Sec I I Hospitalisation expenses
Rs.10,000/- on family floater basis
with maternity Rs.1000/- /3000/ Sec I II PA for RS.10,000/- (as per
JPA cover)
Premium Rs.146/- + ST.