According to respondents, 5.8 million rubles will be enough to maintain a stable level of family well-being in case of insurance event or upon the life insurance contract completion. The highest estimate of “cost of living” is among wealthy men under the age of 30 living in Moscow, St. Petersburg or Vladivostok.
The average size of insurance coverage is very different in different socio-demographic groups and directly depends on financial situation. People with the lowest income who, according to their estimates, “have enough money only for food”, consider the insurance amount of 2.4 million rubles to be sufficient, and affluent Russians who can afford everything they need estimate the amount in 13.3 million rubles.
With age, the assessment of the sufficient life insurance amount decreases: 6.9 million rubles - for young people aged 18-30, and 4.5 million rubles - for people over 60 years old. The evaluation of the “cost of living” also varies depending on education and gender differences. If the sufficient insurance amount for Russians with incomplete higher education is 4.5 million rubles, then for respondents with higher and postgraduate education it is 6.9 million rubles. The fair insured amount for men is 6.8 million rubles, for women - 4.6 million rubles.
Thus, the representatives of the most affluent groups of population evaluate the sufficient amount for life insurance in 13.3 million rubles, young people under the age of 30 years and graduates and post-graduates - 6.9 million rubles. In terms of geography, the highest rating is in Moscow - 8 million rubles, St. Petersburg - 7.2 million rubles and Vladivostok - 7 million rubles.
The study was conducted in summer-fall 2019 in Sevastopol and cities with population of more than 500 thousand people. 400-500 respondents were interviewed for a representative sample reflecting the socio-demographic composition of each city population.
Photos are from open sources.
