Published Paper Details:

Purpose: The purpose of this paper is to study and describe several factors influencing purchase decisions of life insurance products through the review of research articles and research theses. It also includes the classification of these variables into different categories. The study includes a wide range of factors that can be considered as influencing variables while making a life insurance purchase decision. Design/ methodology/approach - The research papers are analysed on the bases of searching the keywords related to factors influencing Life insurance purchase decisions in various published journals, working papers, and some other Ph.D. theses. These papers have been collected over the years. These articles are segregated into personal, social, psychological, demographic, social, cultural, functionality factors, and many more. Practical implications - The practical implication of the research is that companies, policymakers, and issuers of life insurance can watch out for investors' interests under psychological and behavioral factors before issuing new policies into the market. Under the Social Implication, investors can recognize several factors from functionality and other areas to make sound investment decisions and can also minimize their risk. Originality/ value - The essence of this paper is the identification of a wide range of factors and the literature related to them. The study is based on both, the literature on factors influencing life insurance decisions. This paper does not only focus on identifying the factors but also on understanding how these factors can influence the process of decision-making. Thus, this paper generated interest in the readers to find different categories of factors and their influence in making a worthy purchase decision.