Determination of Economic and Noneconomic Variables on Demand for Life Insurance

  • سال انتشار: 1395
  • محل انتشار: مجله بین المللی مطالعات اقتصاد و مدیریت کسب و کار، دوره: 1، شماره: 3
  • کد COI اختصاصی: JR_IJBEMS-1-3_002
  • زبان مقاله: انگلیسی
  • تعداد مشاهده: 484
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نویسندگان

Seyd Sadegh Jafari Farsi

Fatemiyeh Shiraz (P.B.U.H), Non-governmental, Non-Profit High Education Institute, Iran, Corresponding Author

Ali Haghighat

Assistant Professor, Islamic Azad University of Shiraz

چکیده

In the new world, insurance is one of the significant and essential tools which play an important role in reducing risk and financial losses and providing financial security and peace of mind and ultimately paving the way for economic development of the country. Regarding the key role of life insurance in reducing poverty and increasing investment, the goal of this study is to review the role of economic and non-economic variables like individual’s income, education, inflation, the price of life insurance, the possibility of household head’s death and bequest on demand for life insurance from 1999 to 2012. In this study we survey demand for life insurance with autoregressive distributed lag estimates method (ARDL). The main results of this study are summarized as follows: The individual’s income and bequest have significant positive relationship with demand for life insurance. Inflation and household head’s death have significant negative relationship with demand for life insurance. Education has negative relationship with purchasing life insurance in long term and Price of policy has negative relationship with purchasing life insurance in short term.

کلیدواژه ها

life insurance, insurance price, inflation, income, bequest, ARDL

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