This report investigates two main issues for the financial services for the poor. As the society and legal system development and the rapid economic growth, the poverty problem has improved. However, the rapid economic growth has caused a serious wealth gap (Tuck. M, 2012). Wold Bank (2012) has demonstrated that. Nearly 400 million people in India and 173 million people in China are the absolute poverty in 2008.Therefore the financial service for the poor is one serious global issue for the society to consider about. The income security and health insurance are two influential sectors in financial services for the poor. Income security is a good way to help the poor income family or the enable working people. And health insurance helps the poor people against the health system expenses. But, paying health insurance is one serious problem. The report also explores 3 recommendations to help address the issues.
The 2 main important issues in the financial service of the poor and the income security issue and the health insurance issue. Income security that provides stipends to specific populations with the low-income. Such as the retired people, disabled person, blind person (Ahuja, R, 2003). And both of the health insurance and income security have the monetary issues.
1. Increased the number of the apply the income security
The income level created poverty, the low income of the poor cannot satisfy their daily expenditure, and the high turnover rate and single parent’s family rate also have the negative effect on the people (Ahuja. R, 2003).Furthermore, according to the Australian Council of Social Service, (2012) research, the Figure1.1 represent that the risk of poverty affects by the income resources. As can be seen in Figure 1.1 the risk of poverty of the social security take 61.3%. This suggests that the family which in the social security part is living in the poverty line.
(Australian Council of...