Historical Significance of Death Fund Informal Death Insurance Scheme of the Mogaveera Community

The surging seas, sandy shores, amidst them are the small fishing hamlets spread over the coastal areas of Dakshina Kannada and Udupi districts of Karnataka. Fishing being the traditional occupation of this community, both the men and the women actively partake fishing and the women folk then sell the catch in the local markets. But since fishing is seasonal the vulnerability of the occupation gives very little room for the economic up gradation of the community. Significant is the fact that the community members have devised an age old customary procedure for managing the death rituals of the deceased in a venerable manner in anticipation of the economic hurdles the members face during the off season especially from the month of June to August. This informal scheme managed by the headmen of the grama or village call it in local parlance as ‘Marana Pand’ or Death Fund. The objective of the paper is to explore the historical significance of this death fund, which acts as an economic cushioning at times of crisis like death. The objective of the paper is to study the economic backup of this scheme and the way it copes up with the vagaries that is predestined with their occupation. The paper also examines the significance of this death insurance scheme in recent times and its role in maintaining the integrity of the community in handling the issues related to death. The main objective of this research paper is to understand the nature of this economic activity. The Ullal Mogaveera Grama (village) has been selected for the case study.