Abstract:

Financial literacy has been described as the combination of awareness, knowledge, ability, attitude and behaviour which are required for individuals to make financial decisions and achieve financial well-being. Financial inclusion states that individuals and managements can reach the products and services such as payment transactions, saving accounts, deposit, credit and insurance policies in favorable circumstances and adequate level and use them. The purpose of this study is that relationship between the level of financial literacy of individuals and having insurance policy (at least one of the fire and TCIP, motor liability. health, life or others) is examined. 429 participants randomly chosen among people living in Bilecik and its surrounding cities and working in different occupational groups have been reached. 61.8% of the participants state that they have insurance policy. It has been seen that 40.1% of insurance policies are fire and natural disasters and 39.2% of insurance policies are motor vehicles liability insurances. 74.5% of the participants who answer all of the basic financial knowledge questions correctly have insurance policy.

Keywords: