Attitudes of Ugandans towards wedding insurance so as to pave way for its acceptance as an insurance policy: a case study of Kampala District
Kagga, Ivan Cliff Mazzi
MetadataShow full item record
The objective of this study was to navigate the attitudes of Ugandan youth towards wedding insurance such that they can be best understood in order for the product to be effective in solving their problems. Primary data, using questionnaire method was used to solicit information from a sample of 120 (93.75%) and only 8 respondents (6.25%) failed to respond. The data was analysed using Univariate, Bivariate and Multi Variate data analysis methods for example hypothesis testing, Pearson Chi Squared Method, Regression analysis among others using software packages STATA and SPSS. In the results, from univariate analysis, majority of the respondents were aged 20-29 (93.33%). A relatively small proportion of the youth were self-employed (8.33%), majority had attained university level (84.17%). In bivariate analysis, it was found that age, gender, income status and willingness, had a significant effect on wedding insurance. (p<0.1). From the multivariate analysis, the factors that significantly affects wedding insurance were gender and willingness to purchase wedding insurance. Females were 73% less likely to purchase wedding insurance than males (OR=0.27). In the conclusion, it was found out that the significant factors that influence wedding insurance are gender and willingness and the insignificant factors are age, religion, education level, income status and knowledge. It is recommended that there be a focus on Women Emancipation in order to empower women to pursue wedding insurance since they are usually more interested in weddings and thus there more likely to take it up. More sensitization should be done in order to increase the willingness of Ugandan youth to pursue the wedding insurance package and also improve their attitudes towards insurance in general. On top of that, financial knowledge should be passed down highlighting the importance of wedding insurance over not being insured at all in order to induce desire to purchase this insurance package.