This paper examines the effect of microinsurance usage on household asset welfare, measured as asset accumulation index using a sample of 2006 households with access to formal non-banking and informal financial services from the 2015 FinScope Survey. Using the treatment effect and instrumental variable estimation techniques to account for endogeneity and selection biases, the empirical results support the hypothesis that microinsurance provides financial protection through asset accumulation to improve welfare. The findings are robust for different types of microinsurance products and weighted and unweighted asset accumulation indices. The policy implications of the findings are discussed.

本文研究了小额保险的使用对家庭资产福利的影响，以2015年通过FinScope调查获得正式非银行和非正式金融服务的2006年家庭样本作为资产积累指数来衡量。利用治疗效果和工具变量估计技术来解释内生性和选择偏见，经验结果支持以下假设：小额保险通过资产积累提供财务保护以改善福利。对于不同类型的小额保险产品以及加权和未加权资产积累指数，该发现是可靠的。讨论结果的政策含义。