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ABSTRACT
For insurance company to adequately develop and contribute effectively to economic development there is need for efficient flow of information among parties to insurance transaction. Insurance contribute significantly by providing certainty at the uncertainty of loss, it also help in loss through it compensation system. This study involves the test of information asymmetry in Nigerian life insurance market. To achieve this, some copies of questionnaires were use to elicit information from policy holders in University of Benin. To achieve this, we made use of the test statistical techniques and it was found that there is high incidence of moral hazard in life insurance market in Nigeria, it was also revealed the adverse selection significantly plague the Nigeria insurance market.
