DEMOGRAPHIC FACTORS AFFECTING VIETNAMESE’S DECISION TO BUY LIFE INSURANCE

Abstract

The research ultilies the VHLSS – Vienam Household Living Standard Survey Dataset 2020 - to identify the demographic factors affecting the Vietnamese people’s decision to purchase life insurance. The research result indicate that age, saving, debt, income and education had a impact on the decision to purchase life insurance. Gender, marital status, number of household members did not affect this decision. Therefore, the paper makes policy recommendations to increase the participation rate of life insurance in Vietnam.