The Influence of Consumer Cognition on the Purchase Intention of Commercial Long-term Care Insurance: A Case Study of Henan Province, China
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Abstract
Commercial long-term care insurance (CLTCI) is a type of insurance that provides consumers with long-term care services. Promoting CLTCI can not only provide insurance companies with new growth points for performance but also serve as an important measure for the government to alleviate the challenges of population aging. However, as the main purchasers of CLTCI, the impact mechanism of consumer cognition on their intention to purchase CLTCI remains unclear. This study explores the influence of consumer cognition on their intention to purchase CLTCI. A total sample of consumers aged 45-59 years who are permanent residents of Henan Province was selected, and 400 valid questionnaires were collected using the convenience sampling method. Structural equation modeling (PLS-SEM) was employed for empirical analysis. The results show that: 1) Consumer cognition has a significant impact on their purchase intention (β=0.121, p<0.01); 2) Consumer cognition has a significant impact on their purchase attitude (β=0.721, p<0.001); 3) Purchase attitude has a significant impact on purchase intention (β=0.764, p<0.001); 4) Purchase attitude plays a mediating role in the influence of consumer cognition on purchase intention (β=0.551, p<0.001).
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