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Abstract

Micro-insurance is a term used to refer to insurance characterized by low premium and low caps or low coverage limits, sold as part of a typical risk-pooling and marketing arrangements, and designed to service low-income people and businesses not served by typical social or commercial insurance schemes. Micro-insurance links multiple small units into larger structures, creating networks that enhance both insurance functions and support structures for improved governance (i.e. training, data banks, research facilities, access to reinsurance etc.). This mechanism is conceived as an autonomous enterprise, independent of permanent external financial lifelines, and its main objective is to pool both risks and resources of whole groups for the purpose of providing financial protection to all members against the financial consequences of mutually determined risks The paper on  “A Study on Awareness of Micro Insurance Schemes” intended to  throw a theoretical background on micro insurance .The objectives of the study include how the insurer are taking steps to create awareness about micro insurance to the people and how much people are aware about the micro insurance are all analyzed through this study. Both Primary and Secondary Data have been used in this project. Primary data was collected from 75 farmers in Theni District.

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