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The Romanians’ Preferences For Life Insurance And Optional Private Pension Products. A Regional Analysis


  • Ingrid Mihaela Dragota

    () (Bucharest Academy of Economic Studies, Romania)

  • Bogdan-Vasile Ileanu

    () (Bucharest Academy of Economic Studies, Romania)


In an international context, Romania had a special position, with both positive and negative aspects in its evolution. Even during a crisis period, starting with 2008, Romania life insurance penetration rate had a continuous growing trend, but it has lagged behind other countries,from Europe or from other continents. The statistics for Romania proved that more steps must be done, primarily in terms of people’s mentality to recognize the usefulness of this sector. Based on our field research of 870 respondents in a nationally representative statistical survey of urban environment in Romania, a binary logit model identified the age, the education level, income per capita and gender as predictors for the probability a life insurance policy to be chosen against an optional private pension. Different result between regions suggests as adequate a regional approach in future management plans regarding life insurance penetration.

Suggested Citation

  • Ingrid Mihaela Dragota & Bogdan-Vasile Ileanu, 2011. "The Romanians’ Preferences For Life Insurance And Optional Private Pension Products. A Regional Analysis," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 5(1), pages 70-88, JUNE.
  • Handle: RePEc:rrs:journl:v:5:y:2011:i:1:p:70-88

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    References listed on IDEAS

    1. Zizi Goschin & Daniela-L. Constantin & Monica Roman & Bogdan Ileanu, 2008. "The current state and dynamics of regional disparities in Romania," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 2(2), pages 80-105, December.
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    More about this item


    life insurance; regional comparison; logit model; urban population; Romania;

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • P25 - Economic Systems - - Socialist Systems and Transition Economies - - - Urban, Rural, and Regional Economics


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