How can we ensure the Growth of Insurance in Rural areas? Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured. Rural insurance is a form of risk management primarily used to hedge against the risk of a contingent uncertain loss caused by events to the rural people. India is well known for rural areas because more than 70% of the population belongs to rural areas. Rural insurance is insurance that has been created for the rural public to insure their businesses such as poultry, cattle, farming, etc. Individuals can claim benefits in case of the death of animals or loss of crops. The government launched many schemes for the benefit of the rural sector. Rural insurance ensures that families living in rural areas have a safe and secure future so that they can lead happy life. The insurance helps them to cover risks related to various aspects of their life. Rural Insurance policies come with affordable premium rates and a faster claim process.

Suriya Stephen

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