Chapter

Buying Life Insurance

Cheris Shun-ching Chan

in Marketing Death

Published in print March 2012 | ISBN: 9780195394078
Published online May 2012 | e-ISBN: 9780199951154 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195394078.003.0005
Buying Life Insurance

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This chapter asks what makes people in China buy life insurance, what kinds of products they buy, and why. Through studying the intentions and interpretations of their choices, it aims to explain the meaning of buying life insurance from the clients’ perspective. The data suggests that while the Chinese clients had multiple and mutable motives for buying life insurance that shifted over time, their preferences for money management products were universal and consistent. Furthermore, buyers from different walks of life shared the same definition of life insurance: they all defined life insurance as money management. I examine how this definition, and buyers’ preferences, were shaped by their shared folklore, values, moralities, and perceptions, and how shifts in prevailing motives over time were brought about by institutional changes.

Keywords: buying life insurance; child insurance; cultural logic; culture and institution; endowment insurance; habit of savings; insurance clients; meaning of life insurance; money management insurance; risk perception

Chapter.  11318 words. 

Subjects: Economic Sociology

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