Buying Factors of Life Insurance Policies in Bangladesh

What is it about?

This paper attempts to identify the factors responsible for buying life insurance policies by the people of Bangladesh. The purpose of the paper could be attributed by the very low per capita life insurance policy, which is lower in compared to other developing countries of the world.

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Why is it important?

Life insurance is important, as it protects family and leave them a non-taxable amount at the time of death. It is also used to cover mortgage and personal loans, such as car loan. Bangladesh has made significant gains in economic growth, development and poverty reduction, which has propelled the country from low income to low middle income status. Insurance helps to protect people and businesses from shocks. However, the life insurance is not very important among the Bangladeshi people. Hence, this study identified the factors related to buying the life insurance policies in Bangladesh by the people.

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