The Effect of Economic and Social Factors on Life Insurance Demand in Iran and Commonwealth of Independent States (CIS)

Subject Areas : sociology

Hedayat Hosseinzadeh ¹ ( استادیار گروه اقتصاد، دانشگاه پیام نور، صندوق پستی 3697-19295 تهران- ایران. )

Received: 2016-03-12 Accepted : 2016-03-12 Published : 2012-01-21

Keywords: C23, : life insurance, social and economic factors, panel data methods. JEL Classification: G22,

Abstract :

  Nowadays life Insurance is one of the most important economic tools and it has several applications the most important role of it is securing the future of the family. Also life insurance is known as one of the major sources of funds and its saving role is more prominent. The aim of this study was to investigate the effect of social and economic factors (per capita income, inflation, interest rates, financial development, dependency ratio, education and life expectancy) on life insurance demand in Iran and CIS countries over the period 2001-2009 using the Panel data.  Research findings show that per capita income levels, interest rates, the level of financial development, education and life expectancy are the most important factors affecting the demand for life insurance. In this regard, the young dependency ratio has an inverse relationship with the demand for life insurance.

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