Determinants of Satisfaction with Preparations for Financial Emergencies

11 Pages Posted: 16 Jul 2014

See all articles by Tahira K. Hira

Tahira K. Hira

Iowa State University - Department of Human Development and Family Studies

Alyce Fanslow

Iowa State University

Renate Vogelslang

Iowa State University

Abstract

Objectives were to examine the relationship between insurance knowledge and insurance coverage and to determine the predictors of satisfaction with preparations for financial emergencies. The systems approach to managerial behaviors developed by Deacon and Firebaugh (1988) was used as the theoretical framework for the study. Personal interviews with 123 household money managers were conducted in central Iowa in fall 1986. Male and highly-educated money managers had more insurance knowledge than female and less-educated money managers. High-income households and households in which the money manager was knowledgeable about insurance issues tended to have broad insurance coverage. The household money managers were more likely to be satisfied with their households’ preparations for financial emergencies if they were retired or disables and if their households had a high net worth and broad insurance coverage. Results may be used by financial counselors and educators to help money managers prepare to meet various financial emergencies.

Keywords: Financial emergencies, insurance coverage, insurance knowledge

Suggested Citation

Hira, Tahira K. and Fanslow, Alyce and Vogelslang, Renate, Determinants of Satisfaction with Preparations for Financial Emergencies. Journal of Financial Counseling and Planning, Vol. 3, 1992. Available at SSRN: https://ssrn.com/abstract=2466501

Tahira K. Hira (Contact Author)

Iowa State University - Department of Human Development and Family Studies ( email )

Ames, IA 50011-2035
United States
(515) 294-2042 (Phone)
(515) 294-0565 (Fax)

HOME PAGE: http://www.eng.iastate.edu/tkhira/

Alyce Fanslow

Iowa State University ( email )

613 Wallace Road
Ames, IA 50011-2063
United States

Renate Vogelslang

Iowa State University ( email )

613 Wallace Road
Ames, IA 50011-2063
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
61
Abstract Views
324
rank
370,868
PlumX Metrics