The Influence of Psychological Account on the Demand of Long-term Accident Insurance for Family

DOI

10.2991/978-94-6239-801-6_53How to use a DOI?

Keywords

Insurance Demand; Long-Term Accident Insurance; Psychological Account; Risk Attitude; Financial Literacy

Abstract

As the Chinese economy experienced continuous economic growth, it has exited a period of rapid growth to a period of high-quality development. The insurance business is a crucial section of the national economy that not only leads to the development of the economy but also offers risk security to individuals and households. But the coverage depth and the insurance density in China have been found to be much lower than average the world over implying that there is a great need to break through in developing the insurance industry. Long-term personal accident insurance has always been a controversial subject among insurance products. It is long-term and relatively costly, which often provokes doubts and skepticism in consumers. The phenomenon is highly associated with loss of consumer confidence due to regulatory breaches, as the industry was growing in its early stages in China. The available literature in China concerns mainly personal insurance, and a small number of studies directly deal with long-term accident insurance. This paper will generalize findings of personal insurance studies into the realm of long-term accident insurance using the psychological account theory to assess its effects on long-term accident insurance household demand to gain a theoretical basis for future research. Based on the psychological account theory, this research examines the relationship between risk perception, emotional cognition, and willingness expression and purchase intentions of insurance and suggests corresponding sales recommendations to the insurance industry.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xinya Ren
PY  - 2026
DA  - 2026/10/23
TI  - The Influence of Psychological Account on the Demand of Long-term Accident Insurance for Family
BT  - Proceedings of the 2026 2nd International Conference on Financial Innovation and Marketing Management (FIMM 2026)
PB  - Atlantis Press
SP  - 495
EP  - 503
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-801-6_53
DO  - 10.2991/978-94-6239-801-6_53
ID  - Ren2026
ER  -