Uptake of endowment insurance as an education strategy, a case study of Kawempe division.
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The main objective of this study was to assess the uptake of endowment insurance as an education strategy. Therefore, it aims to find out whether age, gender, marital status, education level, income level, knowledge about endowment insurance, affordability of insurance, owning insurance policies, satisfaction of insurance services has a significant relationship on the uptake of endowment insurance as an education strategy. The researcher used simple random sampling to select samples of 96 respondents. A structured questionnaire consisting of socio- demographic characteristics and knowledge & attitudes was used to obtain primary data and analysis done using STATA. Descriptive analysis was done using frequency tables, cross tabulations with chi-square tests was used to study the relationship between the independent and dependent variables as well as multivariate analysis. The findings revealed that majority of the respondents know that endowment insurance can be used as a college savings plan (79.31%) from other sources such as schools, billboards, radios (46.54%). Majority of the respondents attained tertiary education (62.50%), a relatively large proportion of the respondents earn income below 500000(43.75%), a relatively small proportion of respondents own insurance policies (53.45%), slightly more than half of the respondents were male (56.24%) and between 20-40 years (58.33%). In the bivariate level analysis, it was found out that the significant factors that influence the knowledge about endowment insurance as a college savings plan were affordability of endowment insurance, income level xi and owning insurance policies with p-values less than 0.1 In multivariate analysis, knowledge about endowment insurance acting as a college savings plan was influenced by owning insurance policies which was fourteen times more likely to the uptake of endowment insurance as an education strategy(OR=14.07). The findings indicate the need to, sensitize the public on endowment insurance policies, make use of mass media so as to educate the mass on how the endowment policies can be used as college savings plans, effectively train staff members so that they may be able to explain to the potential clients who approach them for advice concerning endowment products