Awareness, interest and availment likelihood of micro insurance among informal workers of selected barangays in Dasmariñas City, Cavite / by Apple Grace S. Banaria, Leonalene B. Salazar and Angelyn B. Zuleta.

Thesis (BS Business Management--Financial Management) Cavite State University

Includes bibliographical references

College of Economics, Management, and Development Studies (CEMDS)

BANARIA, APPLE GRACE 8S; SALAZAR LEONALENE B; ZULETA ANGELYN B. Awareness, Interest, and Availment Likelihood of Microinsurance Among Informal Workers of Selected Barangays in Dasmarinas City Cavite. Undergraduate Thesis. Bachelor of Science in Business Management major in Financial Management. Cavite State University, Indang, Cavite. May 2017. Adviser: Mr. Gener T.Cueno.

The study was conducted from February to March 2017. Specifically, within the premises of its five selected Barangays in Dasmarifias City Cavite, namely: Biglang Sibol, Paliparan If, Paliparan U1, San Agustin II and Victoria Reyes. It sought to determine the level of awareness, interest and availment likelihood of microinsurance among informal workers of selected barangays in Dasmarifias City Cavite. It specifically aimed to; determine the socio —~ demographic profile of informal workers: determine the most influential factor affecting the level of interest of informal workers towards microinsurance; determine the significant difference on the level of awareness, interest and availment likelihood of informal workers based on their socio — demographic profile: determine if there's a significant relationship between the level of awareness and interest of informal workers towards microinsurance and; determine if there's a significant relationship between the level of interest and availment likelihood of informal worker towards microinsurance.

The respondents of the study were 400 informal workers which are classified int three: ambulant and market vendor, home — based workers and small transport drivers. They are determined through the use of purposive and snow — ball sampling technique. Descriptive statistical tools and correlation design were used in analyzing the data gathered. Mann Whitney were used to measure the significant difference between two variables and Kruskal Wallis were used to measure the significant difference between more than two variables. On the other hand, Spearman Rank Correlations were used to measure the significant relationship between two or more variables.

The average age of the participants was 20 to 29 and 40 to 49 years old. Most of them were male and high school graduates. Most of the informal workers were home
workers, had 4 to 7 members in a family and their estimated monthly income were 5,000 to 7,499.

Participants’ monthly income is the most influential factor which affects their level of interest towards microinsurance. Data revealed that there is no significant difference on the level of awareness of informal workers based on their age, household size and monthly income. Aside from these, participants’ sex, occupation, household size
and monthly income has no significant difference on their availability likelihood of microinsurance. Also, awareness among informal workers of selected Barangays in Dasmarinas City Cavite has no relationship to their interest towards applying for a microinsurance policy.

Data also revealed that the participants had lacked understanding abou microinsurance and have a negative perception of it which lead to distrust. Indeed, policy regarding microinsurance should be transparent enough, it should meet the needs and paying capacity of the low income earner in order to generate a higher availment likelihood.

Submitted copy to the University Library. 08/31/2018 T-6975