Paradigm model of effective factors in life insurance redemption in Iran

Helmzadeh, A.; Hamdi, K.; Heidarzadeh Hanzaei, K.

doi:10.22056/ijir.2019.03.03

Document Type : Original Research Paper

Authors

¹ Department of Management and Economics, Business Administration, Islamic Azad University of Tehran, Science and Research Unit, Tehran, IranTehran.

² Department of Management and Economics, Business Administration, Islamic Azad University of Tehran, Science and Research Unit, Tehran, Iran

https://doi.org/10.22056/ijir.2019.03.03

Abstract

Purpose: The redemption of life insurance is one of the harms of the insurance industry, which causes customer dissatisfaction, their bad advertising, disrupting companies' plans for investment, reducing the country's gross domestic income, etc. Since most of the researches conducted in the field of life insurance redemption have focused on economic factors, the main goal of this research is to comprehensively explain the reasons that lead to the redemption of life insurance policies in Iran.
Methodology: The current research, using a qualitative method and using data base theory (Strauss and Corbin's approach), has calculated the conditions of life insurance redemption at the request of policyholders and related interactions and its consequences.
Findings: The research data were obtained through interviews with high-ranking employees and life insurance redemption experts of some active insurance companies in the country.

Conclusion: The results show that causal conditions include dimensions related to the structure of life insurances and intervention conditions include dimensions related to the insurer and policyholder and background conditions include dimensions related to the structure of Iranian society that cause the redemption of life insurances and with interactions such as re-advising and providing facilities or not giving advice, the resulting consequences include, respectively, cancellation of redemption and feeling of satisfaction and continuation of life insurance or redemption, feeling of dissatisfaction, loss of trust from the insurer and viral advertisements against the insurer. In addition, certain conditions such as economic or political instability at the macro level and things such as the employment status and income of the policyholder at the micro level, as well as the essential characteristics of life insurance, such as complexity, long-term and intangibility, also affect the redemption of life insurance.

Keywords

References

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Iranian Journal of Insurance Research

Paradigm model of effective factors in life insurance redemption in Iran

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Volume 8, Issue 3 - Serial Number 29
July 2019
Pages 183-199

Paradigm model of effective factors in life insurance redemption in Iran

References

References

Letters to Editor

Send comment about this article

Volume 8, Issue 3 - Serial Number 29July 2019Pages 183-199

Volume 8, Issue 3 - Serial Number 29
July 2019
Pages 183-199