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Financial education and insurance advice seeking

Author

Listed:
  • Jing Jian Xiao

    (University of Rhode Island)

  • Nilton Porto

    (University of Rhode Island)

Abstract

The purpose of this study is to examine the potential effects of consumer financial education on insurance advice seeking with a large and representative national data set in the U.S. Previous research has examined factors associated with insurance advice seeking. After controlling for these factors, financial education, which has not been examined in previous research, is positively associated with this behaviour. Specifically, high school and workplace financial education show positive associations with insurance advice seeking. Further analyses show that there are differences in insurance advice seeking between consumers with and without life insurance.

Suggested Citation

  • Jing Jian Xiao & Nilton Porto, 2019. "Financial education and insurance advice seeking," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(1), pages 20-35, January.
    • Handle: RePEc:pal:gpprii:v:44:y:2019:i:1:d:10.1057_s41288-018-0108-1
    DOI: 10.1057/s41288-018-0108-1
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    References listed on IDEAS

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    Cited by:

    1. Ziyuan Lyu & Li Wei, 2021. "Information sources and participation in the Chinese insurance market: knowledge as a mediator," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(1), pages 79-106, January.
    2. Pongpat Putthinun & Somtip Watanapongvanich & Mostafa Saidur Rahim Khan & Yoshihiko Kadoya, 2021. "Financial Literacy and Alcohol Drinking Behavior: Evidence from Japan," Sustainability, MDPI, vol. 13(16), pages 1-13, August.
    3. Cristian Escudero & José L. Ruiz, 2022. "Choosing the highest annuity payout: the role of intermediation and firm reputation," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 973-1004, October.
    4. Pallavi Dogra & Arun Kaushal & Rishi Raj Sharma, 2023. "Antecedents of the Youngster’s Awareness About Financial Literacy: A Structure Equation Modelling Approach," Vision, , vol. 27(1), pages 48-62, February.
    5. Mohammad Farhan Khan & Farnaz Haider & Ahmed Al-Hmouz & Mohammad Mursaleen, 2021. "Development of an Intelligent Decision Support System for Attaining Sustainable Growth within a Life Insurance Company," Mathematics, MDPI, vol. 9(12), pages 1-22, June.
    6. Zhang, Yong & Lu, Xiaomeng & Xiao, Jing Jian, 2023. "Does financial education help to improve the return on stock investment? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).

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