Proceeding of International Conference on Entrepreneurship (IConEnt)
Vol. 4 (2024): Proceedings of the 4th International Conference on Entrepreneurship (IConEnt)

Determinants of Life Insurance Purchase Intent Among Millennials

Isana Sri Christina Meranga (Unknown)



Article Info

Publish Date
21 Jan 2025

Abstract

This study aims to investigate the factors influencing millennials' intentions to purchase life insurance. A conceptual framework was developed based on the Theory of Reasoned Action (TRA). Data was collected through electronic questionnaires from 270 sample of Indonesian millennials. The gathered data was analyzed using PLS-SEM 4. The findings reveal that attitude, subjective norms, personal values, motivation, and learning significantly influence millennials' intentions to purchase life insurance. A positive attitude, driven by perceived benefits and long-term financial security, emerged as a key determinant. Social influence, as reflected in subjective norms, also played a crucial role. Personal values, particularly those related to family security and financial stability, further reinforced the importance of life insurance. This research contributes to the literature by analyzing the factors influencing millennials' intention to purchase life insurance. By identifying key determinants like attitude, social norms, personal values, motivation, and learning, this study provides valuable insights for insurers to develop effective marketing strategies.

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Journal Info

Abbrev

IConEnt

Publisher

Subject

Economics, Econometrics & Finance

Description

Proceeding of International Conference on Entrepreneurship (IConEnt) berisi artikel-artikel ilmiah dari para peneliti dari lingkup internasional yang mengikuti konferensi IConEnt yang akan diadakan rutin setiap tahun oleh Fakultas Ekonomi dan Bisnis Universitas Pelita ...