Financial literacy, financial advisors, and information sources on demand for life insurance
Yu-Jen Hsiao and
Pacific-Basin Finance Journal, 2017, vol. 43, issue C, 218-237
A logistic regression model was used to investigate the effects of financial literacy, financial advisors, and information sources on life insurance participation. Our empirical findings suggest that people with high financial literacy are more likely to purchase life insurance and that consultations with financial advisors and conversations with family members and friends are both positively associated with the demand for life insurance. Participant characteristics, such as age, gender, marital status, working status, and personal income, are also major factors affecting the demand for life insurance. Moreover, the Taiwan Financial Supervisory Commission education program can increase the demand for life insurance.
Keywords: Financial literacy; Financial advisor; Life insurance (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:43:y:2017:i:c:p:218-237
Access Statistics for this article
Pacific-Basin Finance Journal is currently edited by K. Chan and S. Ghon Rhee
More articles in Pacific-Basin Finance Journal from Elsevier
Series data maintained by Dana Niculescu ().