Re: Mispricing of insurance premia:Opportunities for human rights activists


ranjit_mathews@xxxxxxxxx wrote:
PratapTambay wrote:
What makes it impossible for rural dalits to insure themselves?

Poverty, lack of awareness, ease-of-access are the the key reasons

Ah, not refusal to sell them insurance. The government can't be stuck
with the bill for their increased mortality for health reasons, though;
health care is not a fundamental right at this time. They might pay
higher premiums but they get higher settlements too when measured in
NPV at the time the policy is first underwritten. The NPV of Rs. 1 lakh
paid 20 years after underwriting is much higher than the NPV of Rs. 1
lakh paid 40 years after underwriting.

I agree. I feel that lack of awareness and ease of access are the
bigger reasons. The current premia applicable to them will indeed be
cheaper for them.

It shouldn't be. The risk of being murdered is very low, so the
premiums would be very low on a per capita basis. If murders go down,
premiums go down and some (1/2?) of the savings get passed on to the
police as bonuses.

The government needs to be involved.

... but the police weren't affected by this payout and there was no
insurance premium involved, so there was no incentive for the police to
proactively minimize murder.

I agree.

.

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