A Study on life microinsurance in Brazil

Karina Reis Silva and Luís Eduardo Afonso
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Karina Reis Silva: Tokio Marine Seguradora
Luís Eduardo Afonso: University of São Paulo

Brazilian Business Review, 2013, vol. 10, issue 3, 130-155

Abstract: This study examines the feasibility of life microinsurance in Brazil. Microinsurance is aimed at people with per capita income of up to two minimum wages (MW), according to the definition made by theBrazilian government’s agency for superintending private insurance (SUSEP). The main source of data was the Brazilian National Household Survey (PNAD) from year 2008. The target population consists of 41 million family heads. For microinsurance coverages for death and funeral expenses, monthly premiums would range from US$0.36 to US$4.13 for those with per capita income of less than 0.25 MW. For the income range between 1 and 2 MW per capita, premiums vary between US$1.32 and US$15.21. The potential yearly market is approximately US$1.8 billion, with a potential profit of approximately US$274 million. These results provide significative evidence that life microinsurance can offer protection for low income people and also can be feasible in Brazil.

Keywords: Microinsurance; life insurance; Brazil (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:bbz:fcpbbr:v:10:y:2013:i:3:p:130-155

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