• Shantosree Dutta
• Parag Shil

Abstract: Micro Insurance, a recent phenomenon, broadly deals with the insurance for the less-privileged masses, who could, otherwise, not afford insurance services. According to the International Labor Organization (ILO) above 850 million Indians are paid less than 2 dollars a day which is very low to subscribe to any mainstream insurance services. Majority of the Indian population are engaged in the informal sector, do not give any taxes and cannot afford any type of formal insurance coverage. Micro Insurance is the insurance for such economically weaker population who are more prone to natural disasters and financial risks, compared to the financially stable group of the population. Micro Insurance has the coverage for life, health, micro-credit, asset, and livestock and accidents coverage. But unlike other developed economies, micro insurance is not yet fully developed in India. It is still in its infant stage as it has been introduced only a decade ago by the public and private insurance companies in India. This paper is an attempt to analyze the overall trend and pattern of micro insurance in India. The other aspects of micro insurance are outside the scope of the study and only the Micro (Life) Insurance is considered in this study.

Micro Insurance, IRDA, Micro-Credit, Economically weaker section, Policy-holders.

"Trend and Pattern of Micro Life Insurance in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 9, page no.328-337, September-2018, Available :http://www.jetir.org/papers/JETIR1809844.pdf

"Trend and Pattern of Micro Life Insurance in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 9, page no. pp328-337, September-2018, Available at : http://www.jetir.org/papers/JETIR1809844.pdf