Which of the following factors drives the demand for life cover?

Affordability is a significant factor driving the demand for life cover because it directly influences an individual's ability to purchase insurance policies. If potential customers find that life insurance products fit within their budget, they are more likely to buy coverage. This factor is critical because if consumers perceive life insurance as too expensive or beyond their financial reach, they will likely forgo purchasing it, regardless of their need for financial protection.

Economic uncertainty can indeed impact demand, as individuals may prioritize immediate financial concerns over long-term protection. However, without affordability, even a strong desire for coverage won't translate into actual purchases. Similarly, while investment potential and market competition play roles in shaping insurance products and availability, they do not directly dictate an individual's decision to acquire coverage. Ultimately, affordability is the primary enabler that allows consumers to access life insurance, thereby driving demand.