Insurance Literacy and Its Influence on Policy Ownership Among Women in Abeokuta, Ogun State

This study investigates the relationship between insurance literacy and insurance policy ownership among women in Abeokuta, Ogun State, South West Nigeria. Women constitute a significant segment of Nigeria's economically active population, yet they remain disproportionately underinsured relative to men, partly due to lower financial literacy levels, limited control over household financial decisions, and targeted exclusion from formal insurance marketing. This research adopts a descriptive correlational design involving 350 adult women selected through multistage random sampling from three senatorial districts in Abeokuta. Structured questionnaires measure insurance literacy across three dimensions: awareness of insurance concepts, understanding of product terms, and ability to evaluate coverage options. Policy ownership status across motor, life, health, and home insurance categories is recorded as the outcome variable. Pearson correlation and binary logistic regression are applied to assess the nature and significance of the relationship between literacy scores and ownership probability. Preliminary findings are anticipated to show a positive and significant association between insurance literacy and policy ownership, with education level and occupation serving as significant moderating variables. The study recommends gender-targeted insurance literacy programs delivered through women's trade associations and community organizations. Keywords: Insurance Literacy, Women, Policy Ownership, Abeokuta, Gender and Insurance.