FACTORS AFFECTING THE CONCLUSION OF PERSONAL INSURANCE CONTRACTS: A SURVEY STUDY ON A SAMPLE OF INSURED PERSONS IN IRAQ

Abstract

Personal insurance is an essential aspect of modern financial planning, providing individuals with protection against financial risks associated with health, life, accidents, and property. In Iraq, like in many other countries, personal insurance plays a crucial role in safeguarding the well-being of citizens. However, despite its significance, the penetration of personal insurance remains relatively low in many developing countries, including Iraq.

This article presents a study that investigates the factors affecting the conclusion of personal insurance contracts in Iraq. The aim is to identify the key elements that influence individuals' decisions to purchase personal insurance, such as social, economic, cultural, and psychological factors. The findings of this research can help insurance companies and policymakers understand the barriers to insurance adoption and develop strategies to increase insurance penetration in Iraq.