Abstract:
Introduction- Microinsurance is the product that concerns low-income households in the world. This study provides a summary of the research of factors determining the demand for microinsurance among low-income households in the Galle district. The purpose of this study is the analysis and identify which are the factors impacting the demand for microinsurance among low-income households.
Design/Methodology/Approach- The research is quantitative and regression analysis is used to find out the relationship between factors. The sample size is limited to the 250 low-income households in the Galle district and the random sample method used. Primary data are collected through well-designed questionnaires online and printed; the data were analyzed by using SPSS 23 software.
Findings- This research discloses that age, gender, marital status, occupation, income, expenditure, educational level, number of children in the family, knowledge about microinsurance trust on microinsurance are determining the demand for microinsurance. This study gives more information about major factors that determine the demand for microinsurance among low-income households and provides some recommendations for getting decisions about increasing the population of microinsurance in the Galle district.
Conclusion – Based on research findings it is proved that low-income householders have microinsurance for a certain level and the majority do not aware. Therefore, the insurance companies who target the low-income householders must focus on the methods of popularising the brand and promotional activities to get higher involvement of them.
