Micro Insurance Product “Protecta” Gives Haitians the Tools to Plan for Their Future

From USAID Haiti’s perspective, the development of financial products to address the economic vulnerability of the poor is of key importance to reducing poverty in Haiti. While the average funeral costs $1,200 USD, roughly 11 months of income, traditional insurance products, until recently, were only available to 3% of the population.

Using the experiences of two micro-insurance loan clients, this success story discusses the work of the USAID funded Haiti HIFIVE project, in partnership with Alternative Insurance Company (AIC), to expand the penetration of an innovative product called "Protecta," a micro insurance product, to help families meet the burden of funeral expenses.