Microinsurance is seen as a mechanism through which low-income consumers can manage their risks, reduce their vulnerability and improve their welfare. The guaranteed benefit provided by insurance also allows for the development of critical services, which may otherwise not have been available to the community. For example, health service developments where service providers become willing to invest in improving facilities once insurance makes it possible for a larger proportion of the population to access the services. While this is theoretically the case, there are many challenges resulting in questions on whether microinsurance can deliver on this value proposition in practice. While extending coverage by insurance products was the initial focus of microinsurance stakeholders, much emphasis is now being placed on ensuring that clients are aware of their cover and are able to use it in times of need. The value experience depends on factors relating to both the client side (awareness, literacy, etc.) and the provider side (product design, sales process, disclosure, the availability of adjacent benefits such as credit, etc.).