Factors influencing households' demand for life insurance

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Factors influencing households' demand for life insurance

Please use this identifier to cite or link to this item: http://hdl.handle.net/10355/5724

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dc.contributor.advisor Weagley, Robert Otis, 1952- en
dc.contributor.author Li, Min en_US
dc.date.accessioned 2010-02-23T17:14:56Z
dc.date.available 2010-02-23T17:14:56Z
dc.date.issued 2008 en_US
dc.date.submitted 2008 Summer en
dc.identifier.other LiM-070708-T11805 en_US
dc.identifier.uri http://hdl.handle.net/10355/5724
dc.description The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. en_US
dc.description Title from title screen of research.pdf file (viewed on August 13, 2009) en_US
dc.description Includes bibliographical references. en_US
dc.description Thesis (M.S.) University of Missouri-Columbia 2008. en_US
dc.description Dissertations, Academic -- University of Missouri--Columbia -- Consumer and family economics. en_US
dc.description.abstract This thesis aims to examine both the type and amount of life insurance purchased by households. To this end, comprehensive models of households' demand for life insurance were developed, which included demographic variables, economic and assets, and psychographic variables. The effects of these factors on either term or cash value life insurance purchased by households were examined separately. The data was obtained from the 2004 Survey of Consumer Finances. The Heckman two-step selection model was used for the data analysis in order to investigate two different household life insurance purchasing behaviors: the type of life insurance purchased and the amount of life insurance purchased. This study provides three contributions. First, the results proved that most of assets categories associate with the purchase of life insurance by households. Second, using Heckman two-stage selection model is supported in this study because factors influenced the probability of owning life insurance and the amount life insurance held were different. Finally, the fact that variables associated with the demand for term life insurance and the demand for cash value life insurance were different support the view that term life and cash value life insurance should be examined separately. en_US
dc.language.iso en_US en_US
dc.publisher University of Missouri--Columbia en_US
dc.relation.ispartof 2008 Freely available theses (MU) en_US
dc.subject.lcsh Life insurance en_US
dc.subject.lcsh Home economics -- Accounting en_US
dc.title Factors influencing households' demand for life insurance en_US
dc.type Thesis en_US
thesis.degree.discipline Consumer and family economics en_US
thesis.degree.grantor University of Missouri--Columbia en_US
thesis.degree.name M.S. en_US
thesis.degree.level Masters en_US
dc.identifier.merlin .b70626716 en_US
dc.identifier.oclc 430322613 en_US
dc.relation.ispartofcommunity University of Missouri-Columbia. Graduate School. Theses and Dissertations. Theses. 2008 Theses


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