Buyers’ Attitude towards Life Insurance Policy Purchase: A Case Study on Ethiopian Insurance Corporation (EIC)
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Date
2010-06
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Addis Ababa University
Abstract
This project is designed to investigate buyers’ attitudes towards life insurance policy purchase in
Ethiopian Insurance Corporation (EIC). To this end; the study has the objective to investigate
buyers’ attitude towards purchase of life insurance policy and what factors significantly affect
buyers’ attitude to the purchase of life insurance policy.
Primary data were collected through questionnaires. The questionnaire was distributed to 120
sample buyers of life insurance policy from EIC that are classified in to 4 groups or strata for the
purpose of easy access and each stratum has again 30 samples selected purposively in which
only 98 were fully completed and returned.
Mainly this research used the Chi-square- test of independence with ( = 0.05. On the basis of
the data obtained from the respondents and results of the tests, the study identified that
demographical factors play considerable role of varying degrees on buyers’ attitude towards life
insurance policy purchase. Particularly age, educational status, income level, and working status
of buyers all have significant impact of varying degrees on attitudes towards life insurance
purchase. Surprisingly sex, religion with the exception of Muslim religion, and number of
dependents that a buyer posses for financial support all proved not to have significant impact on
life insurance purchase attitude of buyers.
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Attitude towards Life Insurance Policy Purchase