Factors for the underwhelming response to life insurance among Zambians: a case study of Lusaka

The study is intended to determine the factors for the underwhelming response to life insurance among Zambian – a case study of Lusaka. The study focuses on the influence of seven selected independent variables (income, level of education, age, culture, religion, family background and marital status) on the decision to purchase life insurance. The researcher used primary data collected from the respondents from the hundred (100) administered questionnaires. The approach for this study is both qualitative and quantitative research approach. To display the responses, the researcher used frequency distribution tables, histograms, pie charts and cross tabulations tables. To statistically determine the influence of the factors on the decision to hold life insurance, the research used analysis of variance. The probability value of income, culture, level of education, age and marital status is less than 0.05 indicating that the factors influence the decision to hold life insurance. While religion and family background have probability value greater than 0.05 which indicates that the factors do not influence the decision to hold life insurance