Does the Maslowian Theory of Hierarchy of Needs Explain the Perceived Insurance—Buying Apathy of Nigerians?

The paper seeks to establish whether Maslowian theory of hierarchy human needs, in concert with other factors, could be a valid explanation for the observed poor insurance buying behaviour most Nigerians. Relying mainly on literature evidence it was that, given poverty level country, an average Nigerian would concerned more his existential needs than bother about security which decision relates. Therefore contends that theory, might have partly explained apathy towards products. Furthermore, study noted fatalistic attitude adherents country’s dominant faiths, Islam and Christianity, together autochthonous age-long quasi-insurance institutions country jointly undermine insurance-appetite insuring public. therefore concludes stimulating demand will not come easily just by increased legislations as has been done hitherto regulatory body. Rather, this require mix strategies including, improving image companies public consciousness via prompt settlement all genuine claims, creatively aligning local into mainstream system finally putting place effective policy framework only reduces governance-induced corruption but also encourage income redistribution poor.