IMPACT OF AGE AS A SOCIO-DEMOGRAPHIC VARIABLE ON HEALTH INSURANCE PRODUCTS

Abstract

The private health insurance has taken off over the recent years, boosted by the pandemic of COVID 19, setting the pace for other similar products, over a market severely dominated by MTPL. However, there were numerous factors influencing this growth, starting with state policies, insurance companies’ management along with welfare and socio-demographic factors. This paper addresses some of the later by focusing on age and notoriety, aiming to determine the possible correlation between socio-demographic variables such as age and health insurance products. The data used were provided by a recent study, conducted by the Institute of Financial Studies, an organization specialized on nonbanking financial system, gathered through a questionnaire, focused on a relevant group, considering all the necessary indicators regarding age, financial situation, area of living, studies, etc.