Welcome to the Academy of Financial Service’s 2019 Annual Meeting being held in Minneapolis, Minnesota in conjunction with FPA’s Annual Conference 2019. This is the full agenda for AFS. For details on FPA items, visit their Full Schedule. Please report any errors to support@academyfinancial.org.
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Tuesday, October 15 • 11:30am - 12:20pm
C1a Associations of Personality Traits and Life Insurance Ownership Among Elderly Americans [CFP Insurances Issues]

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This study investigates the determinants of consumer demand for life insurance.  The literature suggests a behavior gap exists between the economic need for life insurance and the low propensity of consumer demand for insurance products.  Researchers have examined potential factors for this life insurance demand “puzzle” with possible explanatory factors such as individual preferences, literacy level, and financial constraints.  Although, many factors have been studied, the life insurance demand “puzzle” persists.  This study contributes to the literature by investigating the association between personality traits and life insurance ownership as a possible explanation for life insurance consumer demand.  Financial planners and life insurance professionals could benefit from understanding their client’s personality traits to tailor recommendations in a way that could increase the efficiency of the client's information processing, and thus potentially influence a positive life insurance purchase decision.   

Author(s): Preston Cherry


Preston Cherry

Doctoral Student, Texas Tech University

Tuesday October 15, 2019 11:30am - 12:20pm CDT
201 A

Attendees (3)