The study is particularly pointed on the problem that is obstacle to the society to participate in life insurance coverage. It emphasized on the problem that affect development of life insurance in south western Ethiopia. The studies mainly focus on identifying and analyzing individual views to the life insurance with key objective of assessing problem that affect the development of life insurance. The study was used descriptive research. The researches were used both primary and secondary. Primary data were collected through questionnaire (open end and close end questionnaire), the questionnaire were distribute by simple random sampling technique, addition to questionnaire primary data were collect through direct observation in the Lucy insurance company site and secondary data collect from the website and document of deferent insurance company operating their business in the study area . The culture and religious also in some rate affects the society. Generally, major operation problem in life insurance converge is seen both in insurance company and the society public has no full and adequate knowledge towards life insurance and other insurance policies. In order to curve these multiple problem the company should be announce its service to the society through different channels.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Background of the Study
- Statement of the Problem
- General Objectives
- Specific Objectives
- Literature Review
- Factors Affecting Life and Health Insurance Consumption
- Factors Considered in Life Insurance Underwriting
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
The main objective of this study is to identify the problems hindering the development of life insurance in Southwestern Ethiopia. The research uses both primary and secondary data to analyze individual perspectives on life insurance and assess the factors impacting its growth.
- Obstacles to life insurance adoption in Southwestern Ethiopia
- Determinants of life insurance demand
- Factors influencing the development of life insurance
- Strategies to increase public awareness of life insurance
- Assessment of life insurance coverage in Southwestern Ethiopia
Zusammenfassung der Kapitel (Chapter Summaries)
Background of the Study: This section provides a historical overview of life insurance, highlighting its evolution from early forms of community support to its current role as a major component of the financial sector. It emphasizes the risk transfer mechanism inherent in insurance and its contribution to economic stability and development. The section then focuses on the relatively recent introduction of insurance practices in Ethiopia and the still-developing nature of the insurance sector within the country. The discussion underscores the importance of insurance in managing uncertainty and its potential for capital investment and economic growth.
Statement of the Problem: This section addresses the limited adoption of life insurance policies in Ethiopia, particularly noting that many people only purchase such policies when required for mortgages. It explores the lack of public confidence in insurance companies and the misconception that premiums are wasted unless a claim is made. The chapter highlights the consequences of failing to secure life insurance protection, emphasizing its critical role in mitigating financial losses associated with death or accidents. It situates the current study within the existing literature on factors affecting life insurance growth, referencing previous research while emphasizing the study's unique focus on Southwestern Ethiopia.
Literature Review: This section delves into existing research on factors influencing life and health insurance consumption and underwriting. It examines the impact of economic conditions (income, inflation, interest rates), demographic shifts (aging population), and various individual factors (age, gender, health status, occupation, habits) on insurance demand and supply. The review specifically addresses the interplay of these factors in the context of life insurance underwriting practices, highlighting the significance of insurable interest and moral hazard considerations.
Schlüsselwörter (Keywords)
Life insurance, insurance development, Southwestern Ethiopia, public awareness, risk management, economic factors, demographic factors, insurance underwriting, mortality, insurable interest, moral hazard.
Frequently Asked Questions: A Comprehensive Language Preview
What is the main objective of this study?
The main objective is to identify the problems hindering the development of life insurance in Southwestern Ethiopia. The research uses both primary and secondary data to analyze individual perspectives on life insurance and assess the factors impacting its growth.
What are the key themes explored in this study?
Key themes include obstacles to life insurance adoption in Southwestern Ethiopia, determinants of life insurance demand, factors influencing the development of life insurance, strategies to increase public awareness of life insurance, and an assessment of life insurance coverage in Southwestern Ethiopia.
What topics are covered in the Background of the Study section?
This section provides a historical overview of life insurance, its evolution, risk transfer mechanism, contribution to economic stability, the introduction of insurance practices in Ethiopia, and the importance of insurance in managing uncertainty and its potential for capital investment and economic growth.
What is discussed in the Statement of the Problem section?
This section addresses the limited adoption of life insurance in Ethiopia, the lack of public confidence in insurance companies, misconceptions about premiums, the consequences of lacking life insurance protection, and situates the study within existing literature on factors affecting life insurance growth, focusing on Southwestern Ethiopia.
What does the Literature Review section cover?
This section delves into existing research on factors influencing life and health insurance consumption and underwriting. It examines the impact of economic conditions, demographic shifts, and individual factors on insurance demand and supply, and addresses these factors in the context of life insurance underwriting practices, highlighting insurable interest and moral hazard considerations.
What are the key words associated with this study?
Key words include Life insurance, insurance development, Southwestern Ethiopia, public awareness, risk management, economic factors, demographic factors, insurance underwriting, mortality, insurable interest, and moral hazard.
What is included in the Table of Contents?
The Table of Contents includes: Abstract, Background of the Study, Statement of the Problem, General Objectives, Specific Objectives, and a Literature Review section further broken down into Factors Affecting Life and Health Insurance Consumption and Factors Considered in Life Insurance Underwriting.
What types of data are used in this research?
The research uses both primary and secondary data to analyze individual perspectives on life insurance and assess the factors impacting its growth.
What is the geographic focus of this study?
The study specifically focuses on Southwestern Ethiopia.
What are some of the obstacles to life insurance adoption identified in the study?
While not explicitly listed in the provided preview, the study aims to identify these obstacles as a central part of its research.
- Quote paper
- Mekuanint Abera Timbula (Author), 2012, Problem that Affect the Developement of Life Insurance in South Western Ethiopia, Munich, GRIN Verlag, https://www.grin.com/document/452341
