Nick Shields: November 2nd, 2008 4:54 pm
Small farms in Peru now have access to micro-insurance. La Positiva, a well known insurance firm will initiate the plan which will make insurance available for more than one third of the rural poplulation of Peru. This will be the first step in social protection for much of Peru's nine million rural workers. It will offer micro-life insurance at marginal cost of the income generated by the harvests. It will be added to the water irrigation prices paid by the farmers. The projected is funded by the Bill and Melinda Gates foundation. It is one of nine projects put forth by La Positiva selected during the first round of the ILO microinsurance facility. Another important aspect of the project is its plan to produce promotional materials aimed at beneficiaries, which includes games, and videos. Participants are expected to pay between .50 cents and 2 dollars (U.S.). The resources provided by the plan are essentially aimed at innovation in terms of microinsurance, including definition of the product to be offered, and the creation of marketing models and promotion of culture of insurance among poor workers who have been traditionally marginalized in terms of social security schemes.
I think this plan is a great step in providing life insurance for all people, not just rural farmers in Peru. If it can be made available, and that affordable to rural farmers in Peru, then it could be made that way all around the world. It is critical for the rural population of Peru, because families that have a death face huge difficulties in producing crops because they rely on everybody to help. I think the best part about it is the price at which it is available. Im sure that these families do not make much money but I think that only 50 cents per month is even affordable for them.
http://www.ilo.org/global/About_the_ILO/Media_and_public_information/I-News/lang--en/WCMS_099350/index.htm
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