Microfinance Horizon

27 November 2010 [MicroEnsure]

MicroEnsure India have announced the launch of a new microinsurance package for farmers in Kerala that provides health microinsurance and a ‘package shield’ for farmers comprising of property, contents and equipment, accident hospitalisation and life insurance.

Due to be launched in January 2011, it is expected that the programme will benefit 5,000 farmers across four districts in Kerala.

Announcing the product at a ceremony in Chaganaserry, Metropolitan Archbishop Mar Joseph Perumthottam emphasised the importance of microinsurance to protect the poor farmers throughout the state of Kerala.

The health insurance product covers each family on a floater basis of up to Rs.30,000 (approximately $663) per year. It covers pre-existing illnesses and post hospitalisation expenses up to 30 days from the date of hospitalisation. Coverage includes maternity benefit up to Rs.5000 (approximately $110) for caesarian delivery and Rs.2000 (approximately $44) for normal delivery.

By combining a number of microinsurance products into a single package, MicroEnsure is able to to reduce its level of administration resulting in a lower cost for the client.