DRIVERS OF THE DEMAND FOR LIFE INSURANCE IN MOROCCO: 1982 – 2010

Recently the life insurance industry has been growing in the Moroccan economy. In this
context, this study aims to reveal and assess the determinants of life insurance consumption in
Morocco over a period of 29 years (1982–2010). Following the literature on the subject,
socioeconomic, financial and demographic explanatory variables were examined to assess their
effect on the demand of life insurance in the Moroccan context. The results of an OLS regression
analysis show a positive relationship between life insurance demand and financial development,
health care expenditures and population. The nature of the relationship between the dependent
variable and age dependency ratio was found to be negative.