Advantages Of Microinsurance

a new scheme or a new product, nothing is assured. It must be implemented and also accepted for it to actually make a difference. Hence, there is necessity of a proof that the product would be received well or that it is being used and also implemented well in the society. There are many areas of development that one could concentrate upon in case of new products. I am trying to conclude that data analysis plays a huge role and can be widely and greatly used in the financial, economic and social development of a nation. Child labour is a huge obstacle that almost every nation in the process of development is facing today. Now, the question is, can microinsurance be implemented in such a manner as to actually reduce the

Bangladesh has been chosen because it is a nation very much prone to cyclones and floods due to its geographical location and low land elevation low income people face. The people that are usually most affected by these disasters are the low income people who have no means to provide shelter for themselves and their families and have no measures to protect the very few assets that they possess. The insurance sector in Bangladesh is not well developed as compared to the neighbouring countries. The Grameen Kalyan, a part of the Grameen Bank conducted studies and surveys over many years and concluded that the main obstacle that the low income people face is ill health, the cost of ill health and the problems that follow. Child labour is very much prevalent in Bangladesh. 4.7 million children or 12.6% of the entire population below the age of 14 are involved in child labour in Bangladesh. Poverty is considered to be the primary reason for child labour. Children are forced to work in all kinds of conditions because their families cannot afford to take care of them. From a layman’s

The Grameen Bank is a Nobel Prize winning microfinance organisation. It is also an NGO. Several research and analysis have been conducted. The studies conducted usually include a population which consists of low income families where atleast one member is a child below 14 years of age, from a particular region or area. The families are involved in micro-credit. Micro-credit is the extension on micro loans, which is basically loans given to low income people and people without a verifiable credit history. The families involved in micro-credit would go to any measures in order to earn some money. Hence these type of families are greatly involved in child labour. Here it is required to conclude whether, if the family involved in microcredit has a microinsurance policy too, could it have any positive effect on the cases of child labour. The total representative sample can be obtained using different methods of sampling, usually simple random sampling, where each family has an equal probability of getting selected in the sample, or even through questionnaires. The sample could further be classified on the basis of whether the selected family is a participant of 1) microcredit programs and microinsurance programs or 2) only microinsurance programs, 3)