Abstract
28Mar 2018 THE EFFECT OF DEMOGRAPHIC FACTORS ON DEMAND FOR LIFE INSURANCE IN ETHIOPIA. Bereket Sorsa and Durga Rao P. V. Lecturer in the Department of Accounting & Finance, College of Business & Economics, Wolaita Sodo University, Wolaita Sodo, Ethiopia. Associate Professor in the Department of Accounting & Finance, College of Business & Economics, Wolaita Sodo University, Wolaita Sodo, Ethiopia.
Highlights
Background of the Study:Insurance industry of the country helps the societies by two ways, first one it helps sufferer of losses by overcoming their economical problems and on second side it contributes to economic development of nations through long term investment of funds collected from the customers in the form of premium amount
The study is conducted with 150 samples from Wolaita Sodo town from government employees working in the organisations such as Banks, Hospitals, Revenue & Tax authority and Finance & economic development departments
Other demographic factors – sex, marital status, religion, organization, monthly income, educational level and family size have no influence on the life insurance demand
Summary
Insurance industry of the country helps the societies by two ways, first one it helps sufferer of losses by overcoming their economical problems and on second side it contributes to economic development of nations through long term investment of funds collected from the customers in the form of premium amount. Health, property, fire etc., insurance belongs to the contractual savings instruments. All these are characterized by regular and long-term cash flows and illiquid. Such kind of contractual savings is important source of finance for private and government long-term investment projects of the country.
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