FACTORS OF IMPACT ON THE INSURANCE BEHAVIOR OF THE UKRAINIAN HOUSEHOLDS
Abstract. Taking into account the fact that the comprehensive research of the basic elements of the insurance behavior of the households is nearly non-existent, and the insurance behavior of the households is characterized by the poor insurance culture, misunderstanding of the advantages and necessity of the insurance, the establishment of the factors of impact on its formation and identification of those influencing on the insurance behavior most of all among the myriad of factors becomes especially topical.
The performed research digest allowed concluding that the interpretation of the insurance behavior essence is limited and does not take into account its saving and consumer-related nature. So, it was proposed to determine the insurance behavior as the variety of the financial behavior of the households oriented to the provision of the financial protection of the households at the expense of the monetary funds formed by means of payment of the insurance premiums and earnings from the investment of the resources of these funds.
It was also proposed to divide the factors of impact on the insurance behavior of the households into the external and internal causes in the course of the research conducted.
The analysis of the dynamics of the unemployment rate, average salary, minimum official wage and minimum pension was performed for the purpose of establishment of the degree of impact of the macroeconomic factors on the insurance behavior of the households.
The level of impact of the demographic factors such as person’s age and gender on his/her insurance behavior was substantiated with the use of the analysis of the dynamics and structure of the membership of non-state pension funds.
The data of the conducted research suggest that such factors as the political and social stability, condition of the labour market, income level of the households, warrants of insurance benefits, financial literacy and insurance culture, psychological personality type, acts of God, and pandemics have the greatest impact on the shaping of the insurance behavior of the households. Such factors as the rumor, pieces of advice from relatives or friends, and religion have impact on the insurance behavior to a lesser extent. The reformation of the Ukrainian insurance market regulation model would enable to eliminate the problems holding back shaping of the active insurance behavior of the households.
Keywords: insurance behavior of the households, external factors, internal factors, insurance culture, warrants of insurance benefits.
JEL Classification G22, D19
Formulas: 0; fig.: 2; tabl.: 2; bibl.: 23.
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