Microinsurance refers to the provision of conventional insurance products, such as life, health, and property insurance, to low-income individuals. It has traditionally been practiced in developing countries where access to mainstream commercial and social insurance schemes is very limited. Indeed, over the last decade, microinsurance has witnessed a dramatic growth in developing countries all around the world. We examine what we have learned from the experience with microinsurance in developing countries and whether microinsurance is a viable mechanism to assist low-income people in Canada.