Using a representative sample and a measure of insurance literacy developed and validated by an insurance supervisor, this study tests the impact of insurance literacy on the holding of insurance products in Italy. We show that insurance literacy influences insurance purchase decisions along with age, marital status, education, employment status, and having children. The greater the literacy, the higher the individual's participation in the insurance market. Given the lower level of insurance literacy compared to financial literacy, policymakers and institutions must provide more insurance education.

Bongini, P., Cucinelli, D., Soana, M. (2023). Insurance holdings: Does individual insurance literacy matter?. FINANCE RESEARCH LETTERS, 58(Part C (December 2023)) [10.1016/j.frl.2023.104511].

Insurance holdings: Does individual insurance literacy matter?

Bongini P.;
2023

Abstract

Using a representative sample and a measure of insurance literacy developed and validated by an insurance supervisor, this study tests the impact of insurance literacy on the holding of insurance products in Italy. We show that insurance literacy influences insurance purchase decisions along with age, marital status, education, employment status, and having children. The greater the literacy, the higher the individual's participation in the insurance market. Given the lower level of insurance literacy compared to financial literacy, policymakers and institutions must provide more insurance education.
Articolo in rivista - Articolo scientifico
Consumer financial decision; Insurance holdings; Insurance literacy;
English
26-set-2023
2023
58
Part C (December 2023)
104511
open
Bongini, P., Cucinelli, D., Soana, M. (2023). Insurance holdings: Does individual insurance literacy matter?. FINANCE RESEARCH LETTERS, 58(Part C (December 2023)) [10.1016/j.frl.2023.104511].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/456416
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