The Importance of Financial Literacy in Consumer's Optimal Choice of Insurance Cover Image

The Importance of Financial Literacy in Consumer's Optimal Choice of Insurance
The Importance of Financial Literacy in Consumer's Optimal Choice of Insurance

Author(s): Zuzana Brokešova, Monika Jurkovičová, Erika Pastoráková
Subject(s): Business Economy / Management, Socio-Economic Research
Published by: Masarykova univerzita
Keywords: financial literacy; insurance literacy; optimal purchase of insurance;
Summary/Abstract: Current research evidence suggests that one of the causes of insufficient use of options provided by the single market for financial services is a very low level of financial literacy in the population. In case of insurance market, the situation is even more difficult because the specifics of insurance further complicate the ability of individuals to understand the wide range of risk coverage supply, for example compared to conventional banking products.

  • Page Range: 90-97
  • Page Count: 8
  • Publication Year: 2014
  • Language: English