Tag Archives: Life Insurance

Insurance Business: A Panacea for Agricultural Sector Sustainability in Nigeria (Published)

Insurance sector plays important role in the growth of Nigeria economy as well as agricultural sector. The study investigated the impact of insurance business on the growth of agricultural sector in Nigeria, using time series data for 18 years from 2000 to 2017, the data used were total insurance investment; total non-life insurance premium (Independent) and the agricultural sector output to Gross Domestic Product (Dependent) which was obtained from central bank of Nigeria (CBN) statistical bulletin and also National insurance commission (NAICOM) statistical bulletin. OLS regression was conducted as well as Augmented Dickey Fuller unit root test which reveals that all the variables are stationary at the order of one, the test for cointegration shows that all the variables cointegrate when AGDP is the endogenous variable. The granger causality test reveals that there is a bidirectional relationship existing between AGDP and total non-life insurance premiums, while unidirectional relationship exists between AGDP and total life insurance premiums with no causal relationship existing between AGDP and total insurance investments. The regression result shows that all the variables have significant impact on agricultural output to gross domestic product and also there is a positive relationship between all the predictors and agricultural output to GDP. It was therefore concluded that insurance serve as a remedy to the sustainability of agricultural sector in Nigeria. The study therefore recommends that insurance sector should provide adequate information particularly on the risk concerning agricultural sectors and also providing a maximum coverage for farmers and their products to reduce the risk which the farmers retained or being expose to in the sector.

Keywords: Agriculture, Gross Domestic Product, Insurance, Investment, Life Insurance, general insurance

A Realistic Path Planning for Chinese Women of the Average Future Lifetime:Protection-Orientation of R&D of Life Insurance—Questionnaires and Model Analysis Based on Current Situations of Beijing Insurance Market (Published)

This paper stated the fact that the gap between Chinese women’s and men’s life expectancy was lower than the world average level, and explored the reasons for its formation. Then employed Conditional Latent change Modeling to predict the linear growth relationship of three-times measurement, including adolescent initial measurement, fertility period measurement, and measurement at menopause. A Conclusion drawn was that economic income was not a major factor which had influenced risks faced by women, However, the influence of the age on intercept is great: the average annual increase of the living risk at the level of 0.14; each additional stage of age, women would be faced with one more risk value of 0.62. Finally, In order to disperse the risk, to better protect the safety of life, to scientifically plan women’s average future lifetime, and effectively to play the role of escort for the women, R&D of women’s insurance product should be focused on the following points: from the angle of policy period: long-term or lifetime product with returned principal; from the angle of function: protection-type mainly (with price unchanged if an item of investments added); from the angle of follow-up services: insurance claims of rationality and timeliness; from the angle of form: product flexibly designed for meeting customers’ needs; from the angle of content: simplicity of policy clauses (easy to understand)

Keywords: Average Future Lifetime, Beijing’s Insurance Market, Chinese Women, Life Insurance, Protection-Orientation, Questionnaires and Model Analysis, Realistic Path Planning