GROSS SAVINGS RATE: Savings are that portion of income that is not spent, which means that when income increases, savings will also increase. In December 2017, gross savings (as % of GDP) in Pakistan was 23.29%. In this study, gross savings is considered as an independent variable to find the effect of savings and income on the demand for life insurance. Saving is closely related to investing. Therefore, the income left after the consumption of goods and services is invested in life insurance. Saving therefore has a positive effect on the demand for life insurance and contributes to economic growth. The gross savings in this study is represented by “GS”. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay EDUCATION LEVEL: According to previous studies, education level has a significant and positive effect on the demand for life insurance (Truett and Truett( 1990) and Browne and Kim(1993), Li et.al(2007) , Kakar and Shukla(2010), Mahdzan & Victorian(2013) found that when the level of education is higher, people are more aware of the types of life insurance and attempt to protect themselves and dependent relatives by consuming it study is denoted by “ED” CRUDE DEATH RATE: The crude death rate indicates the average annual number of deaths during a year per 1,000 people in the population at mid-year, also called the crude death rate is 7.5 deaths per 100 people. Overall, the crude mortality rate has a positive relationship with the demand for life insurance It is one of the key drivers of demand for life insurance. It is the life insurance premium rate that is charged annually, quarterly, or monthly. More formally, the price is the cost per 1,000 of ordinary life insurance coverage defined as the ratio between the total annual premium in force and the total sums insured in force in a year. The price of insurance has a significant and inverse relationship with the demand for life insurance because high costs of life insurance tend to the price of life insurance which is taken as a measure to determine the demand in this model-based study used by Browne and Kim (1993) . In this study it is represented by “PLI”. Econometric Models for Life Insurance Demand: Taking into account the above arguments, the multiple econometric model is expected to find the determinants of life insurance demand in Pakistan. Babbel (1981), Truett and Truett (1990) and Browne and Kim (1993), Hwang and Greenford (2005), Li et.al (2007), Nesterova (2008), Çelik and Kayali (2009), Ibiwoye et.al (2010)). Kakar and Shukla(2010), Mahdzan & Victorian(2013) are the studies on the basis of which the econometric model is designed. They designed the demand for life insurance as a function of explanatory variables.LIDD = f ( ß0 + ß1 GSt + ß2 INFt + ß3 PLIt + ß4 EDt + ß5 CDRt )LIDD = ß0 + ß1 GSt + ß2 INFt + ß3 PLIt + ß4 EDt + ß5 CDRt + et Where ß1 >0, ß20, ß5>0,Here in this study, LIDD= Application for life insurance. Sums insured (total life insurance assets in force) are used to measure the demand for life insurance.GS= gross savings,INF=inflation i.e. consumer price indexPLI=price of life insurance i.e. premium gross annual life insurance ED=education, i.e. Government expenditure on education as a percentage of GDPCDR= crude mortality rate, and e is the term0.