Reasons for Not Contacting Insurance Under Consideration

(Multiple Response Question)

"As you just mentioned about the Insurance product you have been thinking of, please tell why haven't you contracted this insurance policy so far?"

No. of Records %/Total
I do not know enough about insurance products3717.7
Insurance companies are too distant from my home / it costs too much to reach them167.66
There is no insurance agent near my place157.18
I can't afford it because I have not enough money to invest in an insurance (life insurance) / I am not rich enough to qualify for insurance products157.18
Staff of insurance companies were not able to convince me that an insurance would be useful for me146.7
I can't afford it - I have not enough money to pay the insurance premium (non-life insurance)136.22
Insurance companies do not reward the money you entrust them with well enough / my present methods of saving/investing money brings better rewards / profit / return of insurance products is too low / the money loses value125.74
I do not understand enough about insurance products / how insurance works115.26
The process of contracting an insurance is too complicated94.31
Some insurance companies con people out of their money83.83
I don't trust insurance companies73.35
I do not know what the insurance company is going to do with my money73.35
The insurance agents do not understand my needs73.35
I can't tell because these decisions are made by my spouse52.39
I do not know what I can do with an insurance41.91
Insurance companies are not acting according to my religious beliefs / It is against my religious beliefs41.91
The insurance agent I met said that I would not qualify for an insurance41.91
I do not know where to go to contract an insurance31.44
I am not educated enough to understand something about insurance31.44
Insurances companies make excuses not to pay out31.44
I do not have the necessary documents to subscribe an insurance31.44

*Horus - Gallup Pakistan - Access to Finance Survey 2015