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Survey: Generation Z And Low-Income Individuals Still Require Personal Insurance
, 01 Dec 2024
Public interest in personal insurance remains robust. Notably, this interest is particularly pronounced among low-income individuals and Generation Z. A survey conducted by Kolaborasi.com titled "Public Perception of the Prospects of the National Insurance Industry" revealed that approximately 64.12 percent of respondents plan to purchase personal insurance. In contrast, only 5.55 percent expressed disinterest in acquiring personal insurance, while 30.28 percent remained neutral or undecided.
The survey further indicated that individuals interested in purchasing insurance primarily aim to protect themselves from financial risks, including loss of income, critical illness, workplace accidents, and death. Additionally, the highest interest in personal insurance is observed among low-income groups compared to those with higher incomes. Specifically, 69.07 percent of individuals earning below Rp 2 million are inclined to buy personal insurance. "Only 7.56 percent of those with incomes below Rp 2 million are not interested in purchasing personal insurance, while 24.32 percent remain neutral or are still contemplating their decision," stated Sahli Hamzah, Research Manager at Kolaborasi.com, during a statement in Jakarta on Friday, November 29, 2024.
Sahli further explained that significant interest in personal insurance is also evident among individuals earning between Rp 2 million and Rp 4.9 million, with 59.66 percent expressing interest, and among those earning between Rp 5 million and Rp 9.9 million, where 65 percent showed similar inclinations. Conversely, individuals with incomes exceeding Rp 10 million tend to exhibit less interest in purchasing personal insurance.
