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The Demand for Life/Disability Insurance by the US Romanian, Russian and Polish Markets
Global Advertising Strategies, June 2002, Pages: 15
The survey revealed a great interest in Life/Disability Insurance by all three groups, but exposed a lack of information about those types of insurance in all three markets. On average, only 20% think there is enough information about Life/Disability policies in their market, and the absolute majority of respondents from all three groups claimed that they prefer to receive such information in their native language. When asked to list the Life Insurance providers known to them, over 25% of respondents in both Romanian and Russian groups did not name any (refer to graphs 1-3 below).
All three cultural groups see benefits in obtaining both Life and Disability plans, however, on average, only 55 % from each group possess such insurance. The majority of the remaining 45% would like to have such insurance either now or in the future, but do not have enough information to make an informed decision. Even those who already have plans do not have a full understanding of the terms, benefits and possible disadvantages of their plans. In some cases they don't even know the name of the Provider or the definition of 'Term' and 'Life'. However, once the difference between 'Term' and 'Life' coverage is explained by the author's interviewers, many of the respondents expressed the desire to reconsider their plans, and to perhaps change the provider. The collected data also identified the most efficient means of information delivery for each group, which vary dramatically due to cultural differences.
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