Planned Behavior in Purchasing Postal Life Insurance: An Empirical Study

Abstract

The study analyses the influence of insurance literacy, perceived usefulness, attitude, subjective norms and perceived behavioral control on the intention to purchase postal life insurance among the people. This study employs the theory of planned behavior in explaining the intention of the people to purchase postal life insurance in state of Kerala circle. The data is gathered from 200 respondents through a well-structured questionnaire. The results obtained through PLS-SEM highlight that insurance literacy, perceived usefulness, attitude, subjective norms, and perceived behavioral control have a significant effect on customer’s intention to purchase postal life insurance. The results have relevant implications for India Post to better understand the customers’ needs in relation to the purchase of postal life insurance. The implications to the policymakers are discussed along with the suggestions for further research.