Unpacking The Invisible Wall: A Behavioral Investigation Into Barriers To Micro-Insurance Uptake Among Low-Income Families In Wayanad, India

Authors

  • Jose Francis Author
  • Dr. R Amudha Author
  • Dr. K. Martina Rani Author

DOI:

https://doi.org/10.64252/qmwb7e56

Keywords:

Micro-insurance, Behavioral Barriers, Financial Literacy, Trust, Risk Perception, Wayanad, Low-Income Households, Insurance Uptake

Abstract

This study investigates the behavioral barriers affecting the adoption of micro-insurance products among low-income households in Wayanad, Kerala. Despite the availability of government-sponsored and privately offered micro-insurance schemes, the uptake among vulnerable populations remains dismally low. Through a mixed-methods approach combining structured surveys, behavioral games, and in-depth interviews, this research identifies psychological impediments such as risk misperception, low trust in financial institutions, temporal discounting, and financial illiteracy. The study proposes a behavioral segmentation model and suggests evidence-based interventions rooted in behavioral economics. These findings provide a foundation for designing more effective, culturally sensitive, and trust-building insurance initiatives tailored to rural Indian communities.

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Published

2025-07-02

Issue

Section

Articles

How to Cite

Unpacking The Invisible Wall: A Behavioral Investigation Into Barriers To Micro-Insurance Uptake Among Low-Income Families In Wayanad, India . (2025). International Journal of Environmental Sciences, 549-552. https://doi.org/10.64252/qmwb7e56