Economic growth and the shaping of the demand for life insurance as exemplified by selected counties of the world
Life insurance has become an increasingly important part of the financial sector not only in Poland but also in other countries. This article describes connections between life insurance and economic growth in countries which are members of the OECD. Statistical analysis was based on connections between economic growth indicators and the demand for life insurance from 1996 to 2007. A correlation coefficient for every indicator was tested to see if it could be used to describe different time periods. The results show that in majority of countries economic growth influences the demand for life insurance and that relationships are really strong. The test of statistical significance proved that results of this research can be used in many countries for any period of times. The strongest relationships which are statistically significant are presented in the graphs.