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Investigating factors that encumber old mutual protect covers in South Africa

Author

Listed:
  • Reginald M. Ndwamai

    (University of Venda)

  • Ndivhuwo Sirembe

    (University of Free State, Bloemfontein, 9300, South Africa.)

  • Ambani Tshikovhi

    (University of Venda, Thohoyandou, 0950, South Africa.)

Abstract

This study examines the obstacles to the adoption of Old Mutual Protect Covers in South Africa through a quantitative methodology. The study seeks to ascertain critical variables—namely income level, education level, and faith in insurance companies—that affect the probability of acquiring certain insurance products. Data was gathered via a structured survey of 500 South African people and analysed utilising SPSS version 29.0, focussing on Pearson correlation and regression analysis. The results indicate substantial favourable correlations among income level, education level, and faith in insurance firms with the use of Old Mutual Protect Covers. These findings indicate that socio-economic considerations and customer confidence are pivotal in the acquisition of insurance. The report continues with recommendations for Old Mutual to improve awareness and trust among lower-income and less-educated demographics to boost the adoption of their Protect Covers. The study's limitations and recommendations for future research are also addressed. Key Words:Old Mutual Protect Covers, Insurance adoption, Income level, Education level, Trust in insurance, South Africa, Quantitative analysis

Suggested Citation

  • Reginald M. Ndwamai & Ndivhuwo Sirembe & Ambani Tshikovhi, 2025. "Investigating factors that encumber old mutual protect covers in South Africa," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 14(1), pages 209-214, January.
    • Handle: RePEc:rbs:ijbrss:v:14:y:2025:i:1:p:209-214
    DOI: 10.20525/ijrbs.v14i1.3861
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