microinsurance

Microinsurance is a form of insurance designed to be affordable and accessible for low-income individuals or small-scale businesses. It provides protection against risks like health issues, crop failure, or property damage, helping families and communities manage financial shocks. By offering small premiums and simple policies, microinsurance bridges the gap between traditional insurance and the needs of underserved populations, promoting financial resilience and stability without causing financial strain. Its goal is to ensure that even those with limited resources can access essential risk coverage.