Insurance needs of individuals in Singapore
This study examines the motivational factors for purchasing insurance, and the features of the existing insurance policies that appeals to the general public. This was done by measuring the importance attached to the various reasons for buying and not buying insurance and the preferences...
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| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2015
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| Online Access: | http://hdl.handle.net/10356/64300 |
| Summary: | This study examines the motivational factors for purchasing
insurance, and the features of the existing insurance policies
that appeals to the general public. This was done by
measuring the importance attached to the various reasons for
buying and not buying insurance and the preferences for the
features of insurance policies. The investigation focuses on
two areas:- Women and Children market.
The analysis on the women's market indicated that the most
important reasons for buying or not buying insurance were to
provide family protection and but that they prefer other
investments respectively. The features that were most
preferred by women in insurance policies were cancer coverage
and accident benefits.
The analysis on the children's market indicated that the most
important reasons for buying or not buying for children, as
perceived by parents, were to provide a monthly allowance to
child upon parents's early death/disability but they prefer
other investments to insurance respectively. The analysis
also indicated that most parents preferred to receive benefits
in installments upon maturity when child enters tertiary
education or upon parents' death/disability. |
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