Influence of Demographic and Social Factors over Voluntary Pension and Life Insurance in Romania
Influence of Demographic and Social Factors over Voluntary Pension and Life Insurance in Romania

Summary/Abstract: The European Union faces major demographic changes on medium and long term, the elderly population increasing in contrast to the young generation [17]. Demographic trends presented in the Ageing Report [7] look unpromising for the next decades. In the context of the pressure which demographic aging puts upon social protection systems, pension systems’ management is a challenge even for the developed countries. Another challenge is the low penetration of life insurances in emerging economies, although life insurance has become an effective tool to encourage savings, and compete with other forms of saving. This paper is a comparative analysis on how the residence environment of respondents, the development region, education and income level influence the possession of a voluntary pension and life insurance in Romania. Our study uses the descriptive analysis as research methodology, and the practical documentation is based on data provided by a representative survey among Romania's active population (aged 18-65 years).

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