The Effect of Life Insurance Development on Happiness Indicators in Selected Countries

Feeling happy plays a constructive role in ensuring the mental, physical and physical health of individuals and increasing their motivation and productivity. Hence, happiness has become one of the measures of sustainable development. In this regard, the present study examines the impact of life insurance on the 8 happiness indicators considered by the Legatum Institute (including economy, entrepreneurship, governance, education, health, safety and security, individual freedom and social capital) in selected countries during the period 2018- 2007.

The research model was estimated using multivariate regression analysis, panel data approach and generalized torque method in 8 cases. In each case, one of the happiness indicators was used as a dependent variable in the model.

The estimated results showed that the effect of life insurance development on all indicators of happiness in selected countries is positive and significant.

Life insurance should be designed in such a way that people according to their needs and priorities can use them in various aspects of daily life, including education, health, safety, entrepreneurship, etc., and increase their happiness. Representatives.JEL Classification: G22, J28, I11, I21, D46.