Factors affecting the low demand and the penetration of life insurance in Burundi
There are different factors that affect the demand and the penetration of life insurance. The Republic of Burundi is the Country with the lowest penetration of insurance, both life and nonlife. The study aims at identifying the factors that cause this low penetration by assessing the demand for life insurance which is done by asking random Burundians who are working and live in Bujumbura about their income and knowledge about life insurance to be able to identify their needs so that insurance companies are able to satisfy their needs. The main findings about the research are that a big part of the population of Burundi agrees to the need of life insurance for security and also for the future and is willing to buy a policy if they can afford it. Therefore the need for micro insurance is imminent as well as the need for attractive products like ones which combine death and survival benefits.