How Does Marriage Affect Health Insurance

how does marriage affect health insurance

How does marriage affect health insurance? Humans are often exposed to decision-making with multiple selections. Every decision that is chosen will always be followed by risk, while the risk is uncertain. Humans need to take action that can minimize these risks, one how to transfer risk is to using insurance products. According to Certified Wealth Managers Association is one of the definitions of wealth management is a system that is comprehensive and cohesive to protect and safeguard assets, develop asset accumulation, and transitioning owned assets to expert inheritance. There are 3 main pillars in science Wealth management, namely, (1) wealth protection & preservation, (2) wealth growth & accumulation, and (3) wealth distribution & transition.

Insurance Request

Request for insurance products represents consumer action upon the willingness to use the product to meet the need for
According to the pillars first from wealth management, wealth protection & preservation, wealth protection & preservation are a sense of security and protection.

Effect of marital status on the insurance request

how does marriage affect health insurance? Insurance buyers on Most are someone who still single then someone followed 4 who was married and the last is someone who becomes a single parent (divorced). The above is possible happened because someone who hasn’t married considers himself. Not to have someone else bear the time sick, disabled, or hit by a disaster so feel the need to use insurance more. Apart from your own health, the second reason that is, because someone is single have very little financial commitment inversely proportional to someone who is was married so made it have more ability to allocate funds held for buy insurance products.

The Influence of Social Security on Insurance Demand

Research conducted by Eugster et al. (2011) shows that social security has a significant negative effect on insurance demand. This happens because more and more costs are incurred for the use of social security, the costs used to use insurance are increasingly reduced.

The Effect of Saving Motives on Insurance Demand

Saving Motivation is a person’s intention to set aside a portion of his income for savings to be used in the future. Saving motives are widely studied as the reason for someone to save to prepare for their future needs. There are four types of saving motives, namely: (1) precautionary motives, (2) life cycle motives, (3) bequest motives, and (4) wealth accumulation motives. saving motives have a positive and significant effect on the demand for life insurance. Purchasing insurance products based on precautionary motives in the future (precautionary motives), motives to leave a legacy to the family left behind (bequest motives), motives to prepare for events in the life cycle (life cycle motives), and motives to get a profit or accumulate wealth (wealth accumulation motives).

The motive for the accumulation of welfare can trigger the greatest impact on the demand for insurance. Followed by the motive for leaving a legacy in the future (bequest motives). Besides, it’s the consumer’s life cycle which is a matter of uncertainty to a factor in consumers buying insurance products (life cycle motives). As well as, motivation related to circumstances and/or precautionary motives. From this motivational collaboration, consumers are aware of the importance of buying insurance products.

The influence of company competence on insurance demand

Company competence is the company’s ability to provide competent and caring services to meet needs. Company competence has a positive and insignificant effect on insurance demand. This means that the company’s competence does not have a significant effect on insurance demand. Although insurance companies are competent in providing services and are able to provide good products and care about one’s needs, this does not affect someone to buy insurance.

This occurs as a result of several cases that befell the insurance company which causes it the brand image of insurance is getting worse. In addition, some respondents in this study also stated that they were not interested in using insurance products because they were not in accordance with their beliefs. Some respondents also stated that they were not interested in using insurance products because it has received a guarantee from the company where the respondent works.

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