Life microinsurance has grown quickly and is well established throughout the Philippines, and as a result, the business case is widely assumed to be strong. The MILK project is working to test the accuracy of this assumption. The analysis focuses on a cluster of five programs that represent the broad range of life microinsurance activity in the Philippines: CARD, TSPI, Prudential, CLIMBS, and MicroEnsure. Life microinsurance is among the simplest types of microinsurance in terms of product design. It is also a product line for which the business case is often seen as the clearest.