Life insurance purchase intention from attitude to behaviour: Research in Khoai Chau district, Hung Yen province, Vietnam

Abstract

The study focused on identifying factors influencing customers’ intention to purchase life insurance in Khoai Chau district, Hung Yen province, Vietnam. The study conducted a survey by questionnaire combined with in-depth interviews with 160 life insurance customers in Khoai Chau district, Hung Yen province, Vietnam. The exploratory factor analysis method combined with the linear regression model was applied to estimate the influence of factors. It is indicated that, alongside demographic factors that significantly impact customers’ purchase intention, several key factors were analysed, including customers’ attitudes, quality of products and services, barriers, and life insurance distribution channels. The results demonstrate that both customers’ attitudes and the quality of products and services have statistically significant impacts on customers’ satisfaction and purchase intention. While gender, income, and age significantly influence purchase intention, barriers negatively affect the buying decision. The study proposes essential solutions to enhance customers’ purchasing decisions in Khoai Chau district and other areas in Hung Yen province, Vietnam, by improving satisfaction, targeting diverse income groups, segmenting customers by gender and age, and reducing barriers to purchasing life insurance.