An analysis of planned purchase of life insurance products among Metro Manila consumers

• Main Author: Ingente, Anne Kristine P.
• Format: text
• Language: English
• Published: Animo Repository 2017
• Subjects: Life insurance > Philippines; Insurance > Philippines
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/5397
• Institution: De La Salle University

The Philippines has a low insurance penetration rate compared to other Asia-Pacific countries at 1.14%. The purpose of this study is to gain insight on how insurance companies and other stakeholders can increase the take up rate of life insurance by studying the six predictor variables namely, the attitudinal beliefs, subjective norms, perceived control, financial literacy, ones present bias and savings, and the effect of demographics to the predictor variables in relation to the planned purchase of life insurance products among Metro Manila consumers. The researcher focused on the working individuals in Metro Manila and in order to gain inclusive information, used a survey of (134) respondents. The researcher used linear regression and found that behavioral beliefs has the strongest influence on the planned purchase of life insurance while financial literacy has a negative relationship on the planned purchase of life insurance.