The Poverty Premium
The term is used to describe how destitute people pay more for their essential goods and services compared to those that are not in poverty.
Low-income households’ get exposed to the PP through various ways either imposed on them or through their own risk averse choices. eg. Use of fuel prepayment meters, area-based insurance premiums or higher-cost credit.
If we truly want to address this inequality, we have to change the systems that keep people poor but until that time comes, GiG will try to help lower that Poverty Premium for low income families through Gods giving.
Low-income households’ get exposed to the PP through various ways either imposed on them or through their own risk averse choices. eg. Use of fuel prepayment meters, area-based insurance premiums or higher-cost credit.
If we truly want to address this inequality, we have to change the systems that keep people poor but until that time comes, GiG will try to help lower that Poverty Premium for low income families through Gods giving.