More than a quarter of Latvians pay more attention to financial security due to Covid-19

25 May 2021 — Andrei Victor
According to a joint study conducted by the Latvian Insurers' Association (LAA) and the sociological research agency Norstat, over the past year, as a result of Covid-19 pandemic, more than a quarter (27%) of Latvian society has changed their perception of the importance of family financial stability.

Unfortunately, only 1% have already purchased a life insurance policy, 9% have considered purchasing a life insurance policy as a financial stability solution (of which 2% as a result of pandemic), while more than half (56%) of the respondents indicated that the pandemic had not changed their future risk prevention habits.

"The research data confirm that the society needs to be educated about the importance of family financial stability, especially in these times of crisis. This can save many Latvian families in unforeseen situations. In addition, the dynamics of economic development in recent years show that we need to be able to live and work in unpredictable conditions", said the association's president Janis ABASINS.

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