Explanation of cognitive, psychological, and social ambivalences of life insurance buying behavior

One of the major barriers to the development of life insurance in Iran is the insurers' lack of understanding regarding the ambivalences that people experience while engaging in life insurance buying process. Considering the existing gap in the context of life insurance consumer behavior, in this study we aimed to explain the policyholders' ambivalences to better understand the life insurance buying behavior which can be employed by insurance companies to formulate and implement effective marketing strategies. The research approach was a qualitative and based on the grounded theory of Corbin and Strauss (Fourth Edition). Data were collected through in-depth interviews with 27 selected participants including policyholders, insurance agents, and life insurance experts, through theoretical sampling which continued until theoretical saturation. Data analysis carried out systematically with open, axial, and selective coding mechanism, with a continuous iterative process between data, concepts, categories and the model. In this process, we employed questioning and comparison strategies as well as memos, diagrams and paradigm tools to analyze the data. As the research results, furthermore identifying and explaining 15 sources of ambivalence in the context of micro and macro environmental conditions and internal (individual) circumstances, a model of life insurance buying behavior developed to explanation of cognitive, psychological, and social ambivalences.