Exploring the Effect of Microinsurance on Asset Inequality among Households in Ghana

We employed the Gini method to investigate the effect of microinsurance on asset inequality among households in Ghana. The findings indicate that the asset inequality of insured households is less than that of uninsured households. Also, insured female-headed households have much lower asset inequality than male-headed households, but uninsured female-headed households are worse off than both uninsured and insured male-headed households. The regional trend reveals that developmental gaps impede the capacity of microinsurance to bridge the asset inequality gap. The findings of this study require policy directions to encourage more low-income households to take up microinsurance schemes.