| dc.description.abstract | The objective of this study was to examine the factors that contribute to having insurance among youth. Primary data was obtained from respondents. This quantitative cross-sectional study involved distribution of 109 sets of questionnaires to respondents. Univariate analysis, cross tabulations and multi nominal logistic regression were performed on the variables in the study using STATA.
In the univariate analysis, more than half of the respondents (65.05%) were male. Anglican was the dominant religion in the study followed by Catholic (28.16%), others (26.21%) and Muslims (6.08%).Majority of the respondents were single (92.23%), followed by the married people (3.88%), cohabiting and separated had the same percentage (1.94%). Furthermore, respondents were mostly students (77.67%), professionals (9.71%), Entrepreneur (5.83%),Craft(4.85%) and others(1.94%).
Majority of the respondents had heard about insurance (96.12%) from sources such as
Televisions (50.49%), Radios (5.83%), newspapers (2.91%) and other sources at (40.78%). About (73.79%) have relatives with insurance and a large majority of (95.15%) considered having insurance themselves.
The multivariate results indicate age and marital status aren’t significant in when it comes to youth having insurance.
The model is a good fit since. This implies that the independent variables chosen do explain the variation in the dependent variable.
Respondents who have family members who have insurance are 4.68 times more likely to have insurance.
The multivariate results in Table 4.6 indicate age and marital status are significant in when it comes
to youth having insurance.
The model is a good fit since (Prob>chi2) <0.05 .This implies that the independent variables chosen does explain the variation in the dependent variable.
Males are 1.72 times more likely to have insurance compared to females. The youth in age groups of 21-25 years are 2.391 times more likely to have insurance.
Religion had moslems 5.897 times more likely to have insurance compared to Anglican.
The married youth were 2.36 times more likely to have insurance compared to the single, those who had heard of insurance where 2.365 times more likely to have insurance compared to those who hadn’t.
Furthermore, youth who heard about insurance from other sources (televisions and radios) where 3.652 times more likely to have insurance compared to those that heard it from newspapers.
Youth whose relatives had insurance where 0.445 times less likely to have insurance compared to those who didn’t have such relatives.
The average term of the policy at 2.743 times saw youth who had policies between 5-10 years have insurance more than those whose term was less than 5 years. Youth considering having insurance 3.04 times more likely to have insurance compared to those who said no. The premium paid for youth that had insurance saw those who paid quarterly 1.688 times to have insurance than those that paid monthly.
Lastly for policies that elapsed those that said no were 1.886 more likely to have insurance than those that said yes, premium incentives put those that said no at 0.453 times less likely to have insurance than those that said yes. Youth who recommended others to have insurance were 1.78 times more likely to have insurance.
There is need for sensitization and education of masses on various aspects within the insurance sector, and this knowledge will instill some confidence within Ugandans so that they can have insurance in the available institutions. On top of incentives for this young sector, the government should look into the Insurance Sector Appeals Tribunal and the Liberalization Bill, which will bring about transparency and competition in the sector respectively. IRA should encourage and license more insurance companies for the youth. | en_US |
