Factors influencing teachers take up of life assurance policy in Kenya: a case of secondary school teachers in Machakos Municipality

Abstract

Life Assurance is something that not everybody is comfortable talking about, or even thinking about especially among communities in developing countries. When we are young and healthy, we feel immortal. The unexpected death of a loved one or us is the furthest thing from our minds. The gift of life, one full of vitality and a healthy body devoid of sickness and disability gives man his greatest joy, as he is able to engage in his day-to-day activities. Death, old age, unemployment and disability on the other hand, are events that plague man's ability to earn an income and Life Assurance is the cure since it's designed to cover the risk of premature death and inflation. Today, the vast majority of people in Kenya neither know and understand what Life Assurance is, nor appreciate its social and economic importance. This study focused on factors influencing teachers' take-up of Life Assurance.

Previously neglected, teachers now constitute a majority of the government workforce and provide a large market for insurance companies. Rising teachers' personal income associated with growth has increased a demand for services in general including Life Assurance. Secondary school teachers in Machakos Municipality were sampled and interviewed to generate feedback to factors influencing their take-up of Life Assurance. Data collected from the field was edited, coded and analysed. Coding was achieved by assigning each response a number, categorizing them and converting the date into numerical codes representing the factors influencing secondary school teachers to take-up of Life Assurance.

Life Assurance is something that not everybody is comfortable talking about, or even thinking about especially among communities in developing countries. When we are young and healthy, we feel immortal. The unexpected death of a loved one or us is the furthest thing from our minds. The gift of life, one full of vitality and a healthy body devoid of sickness and disability gives man his greatest joy, as he is able to engage in his day-to-day activities. Death, old age, unemployment and disability on the other hand, are events that plague man's ability to earn an income and Life Assurance is the cure since it's designed to cover the risk of premature death and inflation. Today, the vast majority of people in Kenya neither know and understand what Life Assurance is, nor appreciate its social and economic importance. This study focused on factors influencing teachers' take-up of Life Assurance.

Previously neglected, teachers now constitute a majority of the government workforce and provide a large market for insurance companies. Rising teachers' personal income associated with growth has increased a demand for services in general including Life Assurance. Secondary school teachers in Machakos Municipality were sampled and interviewed to generate feedback to factors influencing their take-up of Life Assurance. Data collected from the field was edited, coded and analysed. Coding was achieved by assigning each response a number, categorizing them and converting the date into numerical codes representing the factors influencing secondary school teachers to take-up of Life Assurance.