Revista Internacional de Economia e Ciências de Gestão

Measuring People’s Attitude towards the Life Insurance in Rangpur City Corporation in Bangladesh

Abstract

Nekmahmud Md, Shahedul ASM and Ferdush Rahman Md

Insurance is a touchstone of a nation’s level of civilization. The life insurance principle now comes to be more and more useful with the passage of time. In other words, insurance is a great source of development of national savings. This is the law of nature that individuals need to live and play with perils and to some degree insurance policy can free individuals from those disappointments. Regardless of the possibility that this is true, people of Bangladesh still don't like to insure them. The present study was intended to quantify the people’s attitude toward life insurance. The study, descriptive in nature, has been conducted based on primary and secondary information. The study has been piloted among 100 respondents in the Rangpur city in Bangladesh. The study survey has been incorporated 15 attitude question questions outlined under seven (7) point semantic differential scale. The gathered information has been analyzed by using frequency distribution through the SPSS 20.0 version. The study also shows that 80% respondents are aware of Life Insurance and 20% are not aware of Life Insurance. 75% respondents believed that life insurance is necessary for every people and it provides the financial support in their life. 30% respondents know the information about Life Insurance from an agent and 10% respondents are known information from Media and 53.3% respondents are known from friends or relatives. Mass communication helps to create awareness among the people with respect to taking an insurance policy strategy. This study will become helpful for the improvement of insurance in Bangladesh.