Introduction

In marketing context, it is stated that consumers can develop

attitudes to any kind of product or service, or indeed to any aspect

of the marketing mix, and these attitudes will affect behavior.

(Pettitt, 2003). Attitude can be defined as a learned disposition to

behave in a consistently favorable or unfavorable way with respect

to a given object. (kanuk, 2007) .It is important to understand the

four concept about attitude. The first one is that we must clearly

define he object which is to bed discussed or measuring the

attitude towards. The second is agreement among researchers that

attitudes are learned either through direct experience or from

others. Attitudes are consistent, they are not necessarily

permanent and can be change over time. Attitudes are affected by

situations think about times you have to eat foods that are not

necessarily your favorite but they are what is available or you are

being served at a friends house. Stating differently positioning of

people into a mind frame of likeness and dis likeness of moving

towards or away from them. (Armstrong, 2008).

The relationship between attitude and behavior plays a key role in

the determination of consumers attitude towards insurance

products. This relationship have four models. The tri-component

model of attitude will be discussed and taken as base for this study.

The tri-component model of attitude states that there are three

components of attitude: cognition, affect, and conation. (kanuk,

2007).

According to tri-component model the knowledge and perception

that are acquired by combination of direct experience with the

attitude object and related information from various sources lead to

consumers emotions or feelings about a particular product or

service, which determine the likelihood or tendency that an

individual will undertake a specific action or behave in a particular

way with regard to the attitude object. On this basis it can be

argued that what are those experiences and knowledge which lead

to formation of certain attitude towards insurance products. This

experience can be in the form of benefits, which can be perceived

by the consumers from insurance products for themselves and also

they can enquire about the way they can get those benefits from

insurance products (M., 2014).These type of queries want attention

as consumers are less aware about the benefits of insurance

products in their lives. Reason for this type of problem may be the

poor information provided by the insurance companies (M., 2014).

Insurance is defined as an arrangement by which a company or the

state undertakes to provide a guarantee of compensation for

specified loss, damage, illness, or death in return for payment of a

specified premium (Oxford Dctionary, n.d.).

This paper will study the role of ethnicity in formation of certain

attitude for decision making toward insurance products.

Background
The insurance industry in Pakistan is relatively small compared to its

peers in the region. The insurance penetration and density has

remained very modest as compared to other jurisdictions.

However the situation has been improving over last 5 years and the

insurance industry, especially life insurance has shown tremendous

growth .this growth can be attributed to the change in perception of

life insurance which is now being perceived as security for a

prosperous future should something ultimately and fortunate

happen. (Sachak, 2014-15).

Life insurance effects a countrys social and economic structure to a

great extent. Due to its nature life insurance differs from all other

kind of insurance. In the last few years, the life insurance sector in

Pakistan has experienced tremendous growth f 30-35% annually.

(Sachak, 2014-15).

Literature Review

Objective of the Study