Investigate the effect of macroeconomic variables on individuals, request of insurance

Document Type : پژوهشی

Author

• abasali lotfi

ferdowsi

https://doi.org/10.22067/pm.v23i12.51826

Abstract

The purpose of this study is to examine the impact of macroeconomic variables on individual’s request of insurance in Iran. In this research the overall performance of Iran’s insurance industry has been investigated in 1360.—1390 therefore the sampling technique has not been used. This research has been done using EVIEWS and applying econometric techniques. In this study the effect of macroeconomic variables on individuals, request of insurance based on definitions have been investigated. The structure of this insurance policy study records and the important role of individuals insurance especially life insurance like other insurance s tends to money in peoples hand and their talk in productive investment which in this way causes improving of economic indexes as gross domestic production (GDP) national income (GNI) and finally community economic development, and its role is also more effective compared to other fields of insurance. Findings of this study suggest that request of individuals, insurance is directly related to per capital income, unemployment rate and insurers compensation paid per capital and inversely related to consumer price.
Methodology
This study is estimated the impact of macroeconomic variables on individuals request of insurance in Iran and in this research the overall performance of Iran’s insurance industry has been investigated in 1360-1390 and this research has been done using EVIEWS and Appling econometric techniques.
Results and Discussion
Based on results It is difficult to generation on how life insurance products and widen in scopes a life insurance market matures there are an interplay of economic political and cultural and commercial factors at work which vary from country to country . There are two aspects of product development that has been evident in many countries. First one is that life insurance products tend to move from having a primary emphasis on insurance protection towards a greater saving role. Especially saving for retirement purposes second. There a move away from simple products sold .either on an individual and group basis to more compels products sold mainly on an individual basis.
Conclusion and Suggestions
Life insurance has historically been an important method through which individuals with relatively low incomes have been able to save tis and invest effectively for the longer term .this contractual nature of the premium payment system in life insurance has been reinforced by insurance companies developing good marketing strategies in order to encourage individuals to save. Life insurance has historically been an important method which individuals with relatively low incomes have been able to save and invest effectively for the longer term .By designing relatively simple life insurance and savings contracts. Which can be purchased in small amounts on a regular basis. However the relationship between the level of saving generated through life insurance and private pension contracts and the development of a domestic capital market is a two way process .

References

1. Hayat Karamu. (2016). the principal insurance. (in Persian).

2. Mohammad Jabari. (2005). insurance Salesmanship. (in Persian).

3. K.S. Rahmani. (2001). Actuarial practice of Life insurance. (in Persian).

4. Lotfali. Bakhshi. (2013). International commercial insurance. (in Persian).

5. Hadi Dastbaz. (1998). principles of Life insurance. (in Persian).

6. Mohammad. vali ghohariyan. (2003). Life insurance. (in Persian)

7. Rahmani T. (2016). Iranian Health insurance Lessons for the Iranian. (in Persian)

8. Iraj Bahaei. (2012). Reviewing an Insurance Arbitration Case. The premium Suspension Clause. (in Persian).

9. Hayat Karimi. (1996). the principles of Insurance. (in Persian)

10. Hayat Karimi Mizan publication Tehran. (2009). property &Liability insurance. (in Persian).

11. Tehran Bimeh Marcazi Iran. (2000). Insurance Life &either Life Assurance. (in Persian).

12. Karimi.Ayati. (2002). the Principles of Insurance & Liability insurance. (in Persian)

13. Hamid Sarnat. (2014). Investment & practice. Analysis. (in persian)

14. Rahmani T. (2004). Economic & Life Insurance. (in Persian).

15. Mohammad vali Gohariyan, (2002). Life insurance. (In Persian).

16. Mahmoud Adeli. (2009). Life insurance. (in Persian).

17. Ayat Karim. (2009). Insurance of a life principles. (in Persian).

18. Ayat Karimi. (2012). property insurance and Disability. (in Persian).

19. Hadi. Dastbaz. (2002). principles of Life insurance. (in Persian).

20. Loma. (2003). Third Edition. Good win life and health insurance Marketing

21. www.aftab.ir

22. Birds,j.&.HirdNJ. (2001). modern insurance Law,London, 5.ed pp.79-82.

23. Browne, m.j. and k. kim. (1993).” An international Analysis of life insurance demand” The journal of risk and insurance, vol.60, pp 616-634.

24. Mittal, Alka and Gupta, S.L. (2006). “Insurance and Risk Management book”, Educational Publishers New Delhi.

25. Lewis F.D. (1989). Dependents and the Demand for Life Insurance, American Review, No,79:452-467.

26. Sigma, World Insurance i.n. (2002). No. 7/2003-1996-No.4/1998.

27. Been stock, Michael, Greey Dickenson and Sajay Khajuria (1998). The Relationship Between Property- liability insurance.

28. Swiss Re Sigma NO3-(2012). Bee stock- Michael Greey nick son and sajay Khajuria (1998).

29. Lewis F.D. (1989). Dependents and the Demand for Life Insurance. American Review, No. 452-467

30. Hirschtelfer j. (1996). Investment Decisions under Uncertainty.. Application of the State Preference Approach Quarterly Journal of I.C.O. 13.252-277

31. Outre Ville.J.F. (1992). the Relationship between Insurance. Financial Development.and Market Structure in Developing Countries UNCTAD Rewiew. (1969).

32. Trute. Date and B.And Lila j.Trute. (1990). The demand for life Insurance in Mexico and the United States. A Comparative Study. Insurance in Mexico and the United States.A.Comparative Study. Journal of Risk and Insurance. 57..321.-328.

33. yaari. M. (1965). Uncertain Life time. Life Insurance and the Theory of the Consumer. Review of Economic Studies. 32-137-150.4. and insurance.48-15-135.

34. Lewis. F,D. (1989). Dependents and the Demand for Life Insurance. American economic Rewiew.79..452-466

35. Hakansson, N.H. (1969). Optimal Investment and Consumption Strategies under Risk and Uncertain Lifetime an Insurance. International Economic Review. 10.443-466.

36. Fortune. P. (1979). A Theory of optimal Life Insurance Purchases. International Economic Review. 74-132-152.

37. Fischer, S. (1973). a Life Cycle Model of Life Insurance Purchases, International Economic Review. 74-132-152

38. Cummins, J.D. 919730.an Econometric model of the Life Insurance. Sector of the U.S.Economy.Journal of Risk and Insurance , 40-533-534

39. Brown, M.J. and Kim, an International Analysis of Life Insurance Demand. Journal of Risk and Insurance.60-616-634.

40. Bennett, carols. S.J. Economics for insurance.London. (1984-1989).

41. Beenstock.Michael. Greey Dicknson. And Sajay Khajuria. (1998). The determination of life premiums. An international cross section analysis. (1970-1981). Insurance, Mathematics and economics.5-261-270.

42. Beenstock, Michael., Greey Dicknson And Sajay Khajuria. (1998). The Relationship Between property liability insurance premium and income. an international analysis. Journal of risk and insurance. 55-259-272 55-Swiss Re. Sigma. No 3. 2012