National culture and life insurance consumption

Chun Wai Andy Chui, Chuck C.Y. Kwok

Research output: Journal article publicationJournal articleAcademic researchpeer-review

186 Citations (Scopus)


This cross-disciplinary study examines the way national culture affects consumption patterns of life insurance across countries. Life insurance is a service that is abstract, complex, and focused on unsure future benefits. Because of the uncertainty and ambiguity inherent in the life insurance product, consumers are more likely to respond according to their cultural prescriptions. Our research hypotheses are tested empirically using Hofstede's cultural dimensions, and data from 1976-2001 across 41 countries. The findings show that individualism indeed has a significant, positive effect on life insurance consumption, whereas power distance and masculinityfemininity have significant, negative effects. The results are robust, even after controlling for economic, institutional and demographic determinants.
Original languageEnglish
Pages (from-to)88-101
Number of pages14
JournalJournal of International Business Studies
Issue number1
Publication statusPublished - 1 Jan 2008


  • Hofstede
  • Insurance
  • Insurance consumption
  • National culture

ASJC Scopus subject areas

  • Business and International Management
  • General Business,Management and Accounting
  • Economics and Econometrics
  • Strategy and Management
  • Management of Technology and Innovation


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