Study On Customer Attitude Towards Life Insurance Policy Purchase In Ethiopia The Case Of Oromia Insurance Company

This research is designed to investigate customers' attitudes towards life insurance policy purchase in Oromia Insurance Company(OIC).To this end;the study has the objective to investigate customers' attitude towards purchase of life insurance policy,what factors significantly affect buyers' attitude to the purchase of life insurance policy and measure a relationship between the economic and socio-demographic factors and customers' attitude towards life insurance purchase policy.Primary data were collected through questionnaires.The questionnaire was distributed to 74 sample customers of life insurance policy from OIC that are in which only 71 were fully completed and returned.Multiple regression Modeling(MRM)approach was used to analyze and test relationships among variables.The study found that dependent factors such as religion,gender,marital status,gender and occupational status were found to have significance impact on the attitude of life insurance policyholders in Oromia Insurance Company's scenario,but other dependent factors such as: education,age and salary have insignificance impact on the customers' attitude towards life insurance purchase policy.Further studies can be made in Oromia Insurance Company to measure the effectiveness of adopted marketing strategies to take advantage of the opportunities offered by the finding of the present study about socio-demographic and economic factors which have impact on the attitude of life insurance purchase policy.Mainly this research used the Chi-square-test of independence with(?= 0.05.On the basis of the data obtained from the respondents and results of the tests,the study identified that demographical factors play considerable role of varying degrees on customer' attitude towards life insurance policy purchase.Particularly age,educational status,income level,and working status of buyers all have significant impact of varying degrees on attitudes towards life insurance purchase.Surprisingly sex,religion with the exception of Muslim religion,and number of dependents that a buyer possesses for financial support all proved not to have significant impact on life insurance purchase attitude of buyers.