The Impact of Microinsurance on Financial Inclusion Among Rural Farmers in Benue State

This study examines the impact of microinsurance on financial inclusion among rural farmers in Benue State, North Central Nigeria. Agriculture remains the primary livelihood for a significant proportion of Nigeria's rural population, yet farmers in this region are disproportionately exposed to climate-related losses, crop failure, and livestock diseases with minimal financial protection. Despite recent policy initiatives by the National Insurance Commission (NAICOM) aimed at expanding insurance penetration in underserved communities, uptake of microinsurance products among this demographic remains critically low. This study adopts a descriptive survey design, drawing on primary data collected from 320 registered smallholder farmers across three local government areas in Benue State. A structured questionnaire was used as the primary data collection instrument, complemented by key informant interviews with cooperative society leaders and insurance agents. The study evaluates awareness levels, accessibility, affordability, and trust as determinants of microinsurance uptake. Preliminary findings indicate that awareness of available microinsurance products is below 30 percent among respondents, and that affordability and cultural skepticism constitute significant barriers to adoption. The study further investigates the role of cooperative societies as potential distribution channels for microinsurance products. Findings are expected to inform policy recommendations for NAICOM and state agricultural development agencies seeking to expand coverage in rural North Central Nigeria. Keywords: Microinsurance, Financial Inclusion, Rural Farmers, Benue State, Agricultural Risk.