Advantages And Disadvantages Of Micro Insurance

Everyone knows what the word poverty means. It means poor, unable to buy the necessities to survive in today's world. We do not realize how easy it is for a person to fall into poverty: A lost job, a sudden illness, a death in the family or the endless cycle of being born into poverty and not knowing how to overcome it. There are so many children in poverty and a family's structure can effect the outcome. Most of the people who are at the poverty level need some type of help to overcome the obstacles. There are mane issues that deal with poverty and many things that can be done to stop it.

More than 800 million people in the world are malnourished, 777 million of them are from the developing world (Raphel, S., 2014). Poverty is an issue that must be addressed to the population loud and clear or everyone will end up suffering. There are many families trying to survive and live from paycheck to paycheck. Unfortunately, there are some families that are unable to support himself or herself or any family member. One important key issue of poverty in the United States is inequality. Many Americans blame the poor people for their own fate but you should never judge a book by its cover. There can be many reasons why an individual or families end up in poverty. For example, low wage jobs, discrimination and social inequality, vulnerability to natural disasters, war and political instability. Another big issue we face today is child poverty. This is a very critical issue because these young children are our future. If we let these children live in poverty, there is a higher chance they will drop out of school, look for work in order to support their family, or give up in life.

Picture This: coming home to place where there aren’t any lights, water and probably no meal for the day. According to Human Services in Contemporary America poverty is the main reason why many babies don’t make it to see adulthood and why clean water and sanitation are not provided. It is the underlying cause of reduced life expectancy, and disability. Poverty is a major contributor to malnutrition, stress, divorces of a family and abuse (Schmolling).

For practically every family, then, the ingredients of poverty are part financial and part psychological, part personal and part societal, part past and part present. Every problem magnifies the impact of others, and all are so tightly interlocked that one reversal can produce a chain reaction with results far distant from the original cause. A run-down apartment can exacerbate a child's asthma, which leads to a call for an ambulance, which generates a medical bill that cannot be paid, which ruins a credit record, which hikes the interest rate on an auto loan, which forces the purchase of an unreliable used car, which jeopardizes a mother's punctuality at work, which limits her promotions and earning capacity, which confines her to poor housing.

The existence of poverty is to commonly overlooked and denied by many. This is true when you or a friend have probably walked by a beggar and gave him/her nothing. You think he does drugs or you think he drinks but in reality he might have just made one mistake and there was no one there to help him back up. This chain of having no money is a factor that can destroy one’s self reputation. Poverty affects the health and education of those below the line of

Poverty has increased tremendously over the last decade in many countries, developed or less developed. Poverty can be caused by many different factors,

Poverty for centuries has been a very severe issue that has troubled many nations while impeding economic developments and progress. Poverty stricken countries are majorly concentrated in the continents of Africa and Asia. Continents like the Americas and Europe have globally been recognized as been wealthier yet still many parts of these ostensible countries face massive cases of poverty. Most at times, countries with high populations owing to high birth rates face the most cases of poverty. The definition of poverty can be boundless in the sense that poverty entails so many subsections as it sometimes gets complicated to group everything under one umbrella. Society tends to focus more on the tangible aspects of poverty because many people associate poverty with lacking money and it makes sense because poverty in terms of lacking money is a major problem affecting almost every country in the world. Even though it is debatable that poverty can be physical, intellectual, spiritual and even emotional, it is best to talk about the lack of money and economic developments in this essay. With reference to the oxford English Dictionary, poverty is state of being extremely poor and the state of being inferior in quality or insufficient in amount. Reflecting on this definition given, I deduced that malnutrition and hunger can define poverty. In the light of this, I think poverty is lacking a comfortable place of shelter, being ill and not having access to a better

As our world settles for more poverty more and more complications are created, starting with the increasing death rate. As families get poor, it is difficult to sustain a livable life while taking care of others. They begin to die without adequate water and food, while bringing

Poverty traps are economic anomalies that continually reinforce poverty within a country’s, or multiple countries’, economies. There are many different types of poverty traps such as savings traps, “big push” models, nutritional traps, behavioral traps, geographic traps, etc. that all affect an economy in different ways. Not only can poverty be enforced through these traps, but also through the way an economy is run or the moralities of the government. According to Mark Koyama (2015), poverty traps are important due to more than 3 billion people, nearly half the world’s population, living on less than $2.50 per day, and about 1.3 billion people living in extreme poverty on just $1.25 per day. Among these 3 billion some people living in poverty, one billion of them are children of which thousands are dying daily. It is necessary to study these different poverty traps in order to begin to decrease the distressingly high percentages of people living in poverty.

Poverty can lead to serious effects. Children who grow up in poverty are likely to have frequent health problems than the children who grow in better financial circumstances. For example, infants who are born into poverty have a low birth weight, and they grow up with mental or physical disabilities. Not only are they sick, but they are most likely to die before their first birthday. Children who are raised in poverty might miss school often because of their illnesses, and they have a much higher accident rate than the other children. Nearly a billion of the world’s population can’t read nor write. Poor families experience stress much more than a normal family does. They are more likely to be exposed to negative events such as illness, job loss, death of a family member, and depression. Homelessness is another effect of poverty. Homeless children are less likely to receive proper nutrition, protection and they experience more health problems. Around 1.4 million children die each year from lack of access to safe and clean water and proper nutrition. Homeless women experience a high rate of low birth weight infants as well as miscarriages. Families who do not have homes receive much more stress than other families. They also have disruption in school, work, friendships, and family relationships. There are other effects of poverty such as drug abuse and addiction, child and woman abuse, debts pressure, and increase in crimes.

This paper will discuss poverty, the different types of poverty and their definitions and who is affected by each type of poverty. It will look at the some of the major reasons why poverty exists and what causes poverty, like such things as inequality, stratification and international debt. Some of the impacts of poverty will also be analyzed from a national and global perspective; things like education, literacy rate, and crime. This paper will demonstrate that poverty affects almost everyone in some form or another and exists because those with power and wealth want and need poverty to exist to force a dependence on the wealthy. A few of the main

Thousands of individuals are living in poverty. Why is it that this worldwide dilemma is still rising in rapid numbers till this day? Is it because of a lack of authoritative power, or a lack of one’s self control to do good? Despite the unknown cause, it has managed to drastically affect the lives of many. Poverty is like a curse, one that is wrongfully placed, difficult to get out of, and resistant to many forms of help.

Unfortunately, it was estimated that roughly 1.2 billion people in 1993 lived in extreme or absolute poverty, that which Robert McNamara regards “‘a condition of life so characterized by malnutrition, illiteracy, disease, squalid surroundings, high infant mortality and low life expectancy as to be beneath any reasonable standard of human dignity’” (Singer 219, 220). These estimates can be projected at nearly 2 billion today. A large majority of the people living in absolute poverty resides in underdeveloped countries. Among the nearly 4.4 billion people in these countries, “3/5 lives in societies lacking basic sanitation; 1/3 go without safe drinking water; 1/4 lack adequate housing; 1/5 are undernourished, and 1.3 billion live on less than $1 a day” (Speth 1).

The disasters cause poverty because these countries are often weak financially and cannot afford to restore their country after extensive damage. Therefore due to lack of resources the situation gets worse. It affects their inhabitant's lives causing a lack of production leading to being unable to provide for citizens. In turn leading to poverty, as they cannot even provide substances to trade and lose money. Other factors that affect the lives of citizens are lack of clean water and standard education.

Insurance is a federal subject in India. It is a subject matter of solicitation. The legislations that deal with insurance business in India are Insurance Act, 1938 and Insurance Regulatory & Development Authority Act (IRDA), 1999. Insurance is defined as is a form of risk management primarily used to hedge against unforeseen risks of contingent losses. Another approach to Insurance is as the equitable transfer of risks, or the possibility of occurrence of losses, from one entity to another, by the method of diversification in exchange for a premium. An Insurer is a company designing, promoting and selling insurance products and services amongst the public. An insured or policyholder is the person or entity purchasing these products and services.