Study of the causes for not buying life insurance
Over the recent years, a strong growth in life insurance industry was brought about by a tremendous growth in new business sales and the improved persistency of policies. With the increasing affluence and a higher standard of living among Singaporeans, the statistics in the MAS Report revealed a...
Saved in:
| Main Authors: | , , |
|---|---|
| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2015
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/64500 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Over the recent years, a strong growth in life insurance industry was brought about by a
tremendous growth in new business sales and the improved persistency of policies. With the
increasing affluence and a higher standard of living among Singaporeans, the statistics in the
MAS Report revealed a higher percentage of the population currently having life insurance in
comparison over the period of last decade. Despite this, there was still a significant proportion
of the population not covered by life insurance. The need to explore into the contributing factors
of this phenomenon motivated the team to carry out a survey on a random sample size of 500
people. The objectives of the project were to find out the reasons why people did not buy life
insurance and to make recommendations to improve the purchasing level of life insurance .
Personal interviews and distribution of questionnaires were carried out on a sample size of
500 people. Other sources of obtaining information included the Insurance Commissioner Report
1990 and Population Census 1990. In this project, the team's emphasis was on individual life
insurance only and excluded group life insurance because of time constraint. |
|---|