Pages: (126-143 )
Abstract
This research is a survey-based study which investigated factors that influenced households to purchase life insurance in Ekiti State, Nigeria. This study employed a well-structured questionnaire administered to 400 respondents using stratified sampling technique. Out of this, 382 copies were found suitable for analysis representing 95.5%. The data were analysed with logistic regression. The results revealed that the rate of demand for life insurance was very low in Ekiti State with the demand by males higher than that of females. Level of income, employment status and access to information significantly affect the individual household life insurance uptake. It was recommended that management of life assurance companies should improve on information dissemination to the general public so as to boost demand for life insurance.
Keywords: Life insurance; Demographic factors; households; Ekiti State,