FACTORS THAT INFLUENCE CUSTOMERS ATTITUDE TOWARDS LIFE INSURANCE IN THE CASE OF NILE INSURANCE

Abstract

The purpose of this study was to examine the factors that influence customers’ attitude toward life insurance. Particularly, the research is intended to investigate the effect of awareness, education, income gender and age on customers’ attitude toward life insurance. The study used quantitative research approach and explanatory research design to answer the stated objectives; and for the purpose of data analysis both descriptive and inferential static data analysis method were used. Mean, standard deviation, correlation and regression analysis were used to analyze the data and test the stated hypothesis The findings of the study revealed that Nile insurance company didn’t create sufficient awareness about life insurance for its customers and for the society as a whole, and as well as most people didn’t know the advantage of life insurance; This indicates that education has a positive implication on life insurance purchase. Individuals had the higher tendency of buying life insurance as their income increases. The descriptive analysis further reveals that insurance purchasing decision is determined by life insurance buyers in Nile insurance are determined by age where older ages are more interested to buy life insurance than younger people. However, the findings of the study also shows that most customers are interested to advise their friends, families and peoples they know to purchase life insurance policy. The correlation analysis shows that customer attitude is positively associated with customers’ awareness, education, income level, gender and age. Furthermore, the regression analysis also shows that all the independent variables except gender, awareness, education, income and age had a significant and positive effect on customer attitude towards attitude of life insurance.