Predictors of Life Insurance Purchase Intention Among Filipino Adults: A Structural Equation Modeling Approach

Life insurance is one of the issues under macro-ergonomics. It is a technique of transferring the risk of a single person to the shoulders of many and offers security and protection for a person’s insurable interests in the event of an unforeseen loss, such as disability, injury, illness, or death. The purpose of this research study was to identify the predictors of life insurance purchase intentions among Filipino adults. Five variables have been identified and survey questionnaires were distributed to three hundred Filipinos by means of social media through a purposive sampling approach. Partial Least Square Structural Equation Modeling (PLS-SEM) showed that out of five variables, only perceived behavioral control had a significant impact on a person’s intention to purchase life insurance. The findings of this study may serve as a guideline for insurance companies and the government for the enhancement of insurance platforms and products. Furthermore, future researchers may use the findings of this study as a basis for their future research topic related to life insurance.