Research On Influencing Factors Of Customers’ Lifelong Life Insurance Purchase Intention

Life insurance products protect the life of the insured.The insurance range is a fixed time.When the insured is completely disabled or dies,the insurance company will compensate according to the amount agreed in the contract.Life insurance products have been widely recognized in our society.Strengthening the importance of life insurance products and optimizing life insurance products according to the purchase intention of policyholders will make the market usher in greater development space.Therefore,in order to further study the factors that affect people’s willingness to purchase life insurance products,this paper will strengthen the promotion of life insurance products and provide life insurance products.Taking life insurance as the object,this paper analyzes the impact of perceived value and perceived risk on customers’ willingness to buy life insurance.Firstly,through theoretical analysis,this paper constructs the theoretical model of the influence of customers’ lifelong life insurance purchase intention,and puts forward the research hypothesis of the influence between different factor variables.Secondly,according to the theoretical model,build a questionnaire on customers’ willingness to buy lifelong life insurance,and obtain the questionnaire data through random investigation among customers of an insurance company.Thirdly,the structural equation model is used to make an empirical analysis of the recovered sample data according to the theoretical model.Finally,it puts forward the countermeasures to improve the lifelong life insurance marketing of insurance companies.The conclusions of this paper are as follows:(1)According to the theoretical analysis,it is concluded that the insurance cost of customers purchasing life insurance directly affects the perceived value and willingness of customers to purchase life insurance.The insurance cost of life insurance directly affects the perceived value and purchase intention of customers.The perceived income of customers purchasing life insurance directly affects the perceived value and purchase intention of customers purchasing life insurance.(2)According to the empirical analysis,the total effect of customers’ perceived value of life insurance on their willingness to buy life insurance is 0.1295;The total effect of customers’ perceived return on life insurance purchase intention is0.1044;The total effect of the insurance cost of customers’ purchase of life insurance on the purchase intention of life insurance is-0.1182;The total effect of customers’ perceived risk of purchasing lifelong life insurance on their willingness to purchase lifelong life insurance is-0.1074,and the hypothesis verification of the theoretical models established for the influencing factors of insurance companies’ willingness to purchase lifelong life insurance has passed the test.(3)According to the results of the structural equation model,the theoretical model is modified.The increase of customers’ perceived risk of purchasing lifelong life insurance will significantly increase the insurance cost,which shows that customers will consider their perceived risk factors as the constituent factors of insurance cost when purchasing lifelong life insurance.Customers believe that after purchasing life insurance,the performance ability of insurance institutions,the anti currency ability of capital appreciation and the dispute risk caused by the deviation in the understanding of life insurance will increase customers’ purchase cost and reduce customers’ willingness to buy life insurance.Therefore,the new path has a certain theoretical and practical significance.(4)BP neural network model can correctly predict 243 samples of 265 willing to buy lifelong life insurance products,with an accuracy rate of 91.69%.It can correctly predict 198 samples of 216 unwilling to buy lifelong life insurance products,with an accuracy rate of 91.67%.The overall prediction accuracy rate is91.68%.It can better predict customers’ willingness to buy lifelong life insurance products.Perceived value still has the most important impact,which is consistent with the results of structural equation model.Second,the impact of perceived risk is different from structural equation,which may indicate that different factors may have some nonlinear effects on perceived risk in the conceptual model proposed in this paper,so the weight of perceived risk is actually greater than the linear effect of structural equation model.