New PDF release: Consumer Attitudes Toward Credit Insurance

By John M. Barron, Michael E. Staten

ISBN-10: 1461285704

ISBN-13: 9781461285700

ISBN-10: 1461313279

ISBN-13: 9781461313274

Consumer Attitudes towards credits Insurance presents the findings of a survey of roughly 3600 people who had the chance to buy credits lifestyles assurance at the side of all kinds of customer loans, other than first mortgages and charge cards. The survey that varieties the foundation of the publication was once performed in 1993 through the credits learn middle at Purdue University's Krannert Graduate tuition of administration. It replicates and expands upon 4 earlier nationwide stories of credits coverage shoppers, performed among 1970 and 1985.
regardless of the widely optimistic findings of earlier learn with admire to patron attitudes towards credits assurance, numerous open questions stay of curiosity to coverage makers, particularly the query of even if coercion is eager about the sale of the coverage. ConsumerAttitudes towards credits Insurance addresses those notable matters. It offers a profile of who's presently being served through the credits assurance marketplace, in addition to the explanations debtors buy the product and their adventure with the supply of credits assurance at aspect of sale.

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Example text

Most institutions found it necessary to pull every loan within the designated time frame (no more than 60 days old) in order to fill the required cell size. Variants on this theme included starting with the most recent loan in the data base and working backward until the required sample size was reached. A few frrms exhausted their loans meeting specified criteria before the required cell size was reached. 2 contrasts the features of the 1993 survey to those of prior studies. 6 provide a breakdown of response rates by type of creditor, the respondent's state of residence, type of loan and type of insurance purchased.

In particular, we pick from our sample a 52-year old, African-American with a high-school education, an individual who rents, has an income between $20,000 and $30,000, does not have other life insurance over $50,000 and is very risk averse (in fact, this person is not willing to take any [mancial risk, with a risk averse index of 5). 94 probability that such an individual purchases credit life insurance. fu other words, 94 out of 100 such individuals are predicted to purchase credit life insurance.

The complexity of the sample design raised the likelihood of data coding errors. Consequently, special procedures were designed to reduce the likelihood of coding errors. These data entry procedures are described in Appendix A. Chapter 4 THE CREDIT INSURANCE PURCHASE DECISION: WHO BUYS IT AND WHY What factors influence a borrower's decision to purchase credit insurance? As noted in the previous chapter, the sales effort made by the person handling the loan can certainly influence a borrower's decision to purchase credit insurance.

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Consumer Attitudes Toward Credit Insurance by John M. Barron, Michael E. Staten


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