ANVESHAK-International Journal of Management

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Determinants of Purchase of Health Insurance in Gujarat – A Study of Social Factors


Affiliations
1 Professor and Principal, Prin M C Shah Commerce College, Ahmedabad – 380014, Gujarat, India
2 Assistant Professor and Head of Economics Department, Prin M C Shah Commerce College, Ahmedabad – 380014, Gujarat, India
     

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Various factors determine the decision regarding health insurance purchase. The present study has taken into account various Social Factors as one of the determinants of consumer purchase decisions of health insurance in Gujarat. The technique of Factor Analysis or Principal Component Analysis has been applied to determine the most influencing Social Factors. It was found that Social Awareness about health insurance among consumers and Concern over increasing Healthcare Cost are the most important factors which are taken into account by the consumers while buying health insurance in the state of Gujarat.


Keywords

Consumer Behaviour, Factor Analysis, Healthcare Cost, Health Insurance, Social Awareness, Social Factors
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  • Determinants of Purchase of Health Insurance in Gujarat – A Study of Social Factors

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Authors

Dharmendra S. Mistry
Professor and Principal, Prin M C Shah Commerce College, Ahmedabad – 380014, Gujarat, India
Pallavi C. Vyas
Assistant Professor and Head of Economics Department, Prin M C Shah Commerce College, Ahmedabad – 380014, Gujarat, India

Abstract


Various factors determine the decision regarding health insurance purchase. The present study has taken into account various Social Factors as one of the determinants of consumer purchase decisions of health insurance in Gujarat. The technique of Factor Analysis or Principal Component Analysis has been applied to determine the most influencing Social Factors. It was found that Social Awareness about health insurance among consumers and Concern over increasing Healthcare Cost are the most important factors which are taken into account by the consumers while buying health insurance in the state of Gujarat.


Keywords


Consumer Behaviour, Factor Analysis, Healthcare Cost, Health Insurance, Social Awareness, Social Factors

References





DOI: https://doi.org/10.15410/aijm%2F2021%2Fv10i2%2F160800