The Impact of Product Awareness on Health Insurance Purchase among Private Organization Employees in Kwara State

Abstract

This study examines the impact of product awareness on health insurance purchase among private organization employees in Kwara State, with special reference to Access Bank plc. The study makes use of primary data that was sourced through a well-structured questionnaire. A total of one hundred (150) questionnaires were administered to the selected sample, while one hundred and sixteen (116) were properly filled and returned. The person, product moment correlation coefficient was adopted for the data analysis. The result of the analysis shows that there exist a strong positive relationship between product awareness and the purchase of health insurance (r = 0.775** N= 116, P < 0.1). The implication of this strong positive correlation coefficient is that a 1% increase in product awareness will result in a 77.5% increase in health insurance purchase. It is recommended among others, that there should be widespread and more room for product awareness of HIS among the private and state establishments’ hospitals, so that workers in other establishments within the state will also benefit from the scheme.