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Enrolment in Micro Life and Health Insurance: Evidences from Sri Lanka

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  • Bendig, Mirko

    ()
    (German Institute for Global and Area Studies)

  • Arun, Thankom Gopinath

    ()
    (University of Central Lancashire)

Abstract

Microinsurance is an emerging concept protecting households from the potentially catastrophic expenditures associated with family related shocks. Therefore, this paper presents evidence on the determinants of insurance participation using probit models on household survey data from Sri Lanka, conditional on household's microfinance institution enrolment. Further, we employ multivariate probit regressions to analyse factors affecting the participation in different types of insurance. We find that the household’s experience of a family related shock is positively associated with the participation in micro health insurance schemes under study. There is strong evidence that microinsurance has not yet succeeded in proportionately reaching the most vulnerable households. Notably, education of the household head is a strong determinant of microinsurance participation.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5427.

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Length: 29 pages
Date of creation: Jan 2011
Date of revision:
Handle: RePEc:iza:izadps:dp5427

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Keywords: microinsurance; household behaviour; Sri Lanka;

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  1. Takashi Kurosaki & Marcel Fafchamps, 1997. "Insurance Market Efficiency and Crop Choices in Pakistan," Working Papers, Stanford University, Department of Economics 97010, Stanford University, Department of Economics.
  2. Joachim Inkmann & Alexander Michaelides, 2012. "Can the Life Insurance Market Provide Evidence for a Bequest Motive?," Journal of Risk & Insurance, The American Risk and Insurance Association, The American Risk and Insurance Association, vol. 79(3), pages 671-695, 09.
  3. Mirko Bendig & Lena Giesbert & Susan Steiner, 2009. "Savings, Credit and Insurance: Household Demand for Formal Financial Services in Rural Ghana," GIGA Working Paper Series 94, GIGA German Institute of Global and Area Studies.
  4. Syed Abdul Hammid & Jennifer Roberts & Paul Mosley, 2010. "Can Micro Health Insurance Reduce Poverty? Evidence from Bangladesh," Working Papers, The University of Sheffield, Department of Economics 2010001, The University of Sheffield, Department of Economics, revised Jan 2010.
  5. Xavier Giné & Robert Townsend & James Vickery, 2007. "Patterns of rainfall insurance participation in rural India," Staff Reports, Federal Reserve Bank of New York 302, Federal Reserve Bank of New York.
  6. Cole, Shawn & Gine, Xavier & Tobacman, Jeremy & Topalova, Petia & Townsend, Robert & Vickery, James, 2010. "Barriers to household risk management : evidence from India," Policy Research Working Paper Series, The World Bank 5504, The World Bank.
  7. Harounan Kazianga & Christopher Udry, 2004. "Consumption Smoothing? Livestock, Insurance and Drought in Rural Burkina Faso," Working Papers, Economic Growth Center, Yale University 898, Economic Growth Center, Yale University.
  8. Gine, Xavier & Yang, Dean, 2007. "Insurance, credit, and technology adoption : field experimental evidence from Malawi," Policy Research Working Paper Series, The World Bank 4425, The World Bank.
  9. Sharma, Manohar, 2000. "Microfinance," MP05 briefs, International Food Policy Research Institute (IFPRI) 0, International Food Policy Research Institute (IFPRI).
  10. Lewis, Frank D, 1989. "Dependents and the Demand for Life Insurance," American Economic Review, American Economic Association, American Economic Association, vol. 79(3), pages 452-67, June.
  11. Seiro ITO & Hisaki KONO, 2010. "Why Is The Take-Up Of Microinsurance So Low? Evidence From A Health Insurance Scheme In India," The Developing Economies, Institute of Developing Economies, Institute of Developing Economies, vol. 48(1), pages 74-101.
  12. Siegel, Paul B. & Alwang, Jeffrey & Canagarajah, Sudharshan, 2001. "Viewing microinsurance as a social risk management instrument," Social Protection Discussion Papers 23305, The World Bank.
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Cited by:
  1. Panda, P. & Chakraborty, A. & Dror, D.M. & Bedi, A.S., 2013. "Enrollment in community based health insurance schemes in rural Bihar and Uttar Pradesh, India," ISS Working Papers - General Series, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague 555, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.

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