Survey: Consumer Behavior Survey on Insurance Services in Taiwan

Description: Please take a few minutes to think about the possibility of purchasing (or continuously purchasing) life insurance that accounts for at least ten percent of your income within the next year.

There are no right or wrong answers. We are only interested in your personal choices.

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This research is being conducted in the context of an academic project.

Thank you for your valuable contribution to the advancement of science in Taiwan!

Survey: Consumer Behavior Survey on Insurance Services in Taiwan
Results are available only to the author

1-9. ✪

Please select one from 1-7
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1.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will be more protective of myself (1 – unlikely; 7 – likely)
1.2. For me, being more protective of myself is: (1 – bad; 7 – good)
2.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will have more savings (1 – unlikely; 7 – likely)
2.2. For me, having more savings is: (1 – bad; 7 – good)
3.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will have safer investments (1 – unlikely; 7 – likely)
3.2. For me, having safer investments is: (1 – bad; 7 – good)
4.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will have better financial conditions (1 – unlikely; 7 – likely)
4.2. For me, having better financial conditions is: (1 – bad; 7 – good)
5.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will be able to reduce more taxes (1 – unlikely; 7 – likely)
5.2. For me, being able to reduce more taxes is: (1 – bad; 7 – good)
6.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I demonstrate more preventive measures (1 – unlikely; 7 – likely)
6.2. For me, demonstrating more preventive measures is: (1 – bad; 7 – good)
7.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will have higher living expenses (1 – unlikely; 7 – likely)
7.2. For me, having higher living expenses is: (1 – bad; 7 – good)
8.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will have better quality of life (1 – unlikely; 7 – likely)
8.2. For me, having better quality of life is: (1 – bad; 7 – good)
9.1. Because I purchased (or will possibly purchase) life insurance that accounts for at least ten percent of my income within the next year, I will have increases or decreases in money even if I do not experience accidents (1 – unlikely; 7 – likely)
9.2. For me, having increases or decreases in money even if I do not experience accidents is: (1 – bad; 7 – good)

10-14. ✪

Please select one from 1-7 (1 – disagree; 7 – agree)
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10.1. My family thinks I should buy life insurance that accounts for at least ten percent of my income within the next year.
10.2. When it comes to financial security, I do what my family asks me to do.
11.1. People who are important to me think I should buy life insurance that accounts for at least ten percent of my income within the next year.
11.2. When it comes to financial security, I do what people who are important to me ask me to do.
12.1. Insurance professionals think I should buy life insurance that accounts for at least ten percent of my income within the next year.
12.2. When it comes to financial security, I do what insurance professionals ask me to do.
13.1. State officials think I should buy life insurance that accounts for at least ten percent of my income within the next year.
13.2. When it comes to financial security, I do what state officials ask me to do.
14.1. Insurance salespeople think I should buy life insurance that accounts for at least ten percent of my income within the next year.
14.2. When it comes to financial security, I do what insurance salespeople ask me to do.

15-20. ✪

Please select one from 1-7
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15.1. Most of my friends have purchased life insurance that accounts for at least ten percent of their income within the next year (1 – no; 7 – yes)
15.2. When it comes to financial security issues, do you want to be more like your friends? (1 – completely different; 7 – very much)
16.1. Most of my classmates have purchased life insurance that accounts for at least ten percent of their income within the next year (1 – no; 7 – yes)
16.2. When it comes to financial security issues, do you want to be more like your classmates? (1 – completely different; 7 – very much)
17.1. Most young people have purchased life insurance that accounts for at least ten percent of their income within the next year (1 – no; 7 – yes)
17.2. When it comes to financial security issues, do you want to be more like most young people? (1 – completely different; 7 – very much)
18.1. Most celebrities have purchased life insurance that accounts for at least ten percent of their income within the next year (1 – no; 7 – yes)
18.2. When it comes to financial security issues, do you want to be more like most celebrities? (1 – completely different; 7 – very much)
19.1. Most financially independent people have purchased life insurance that accounts for at least ten percent of their income within the next year (1 – no; 7 – yes)
19.2. When it comes to financial security issues, do you want to be more like most financially independent people? (1 – completely different; 7 – very much)
20.1. Most risk-averse people have purchased life insurance that accounts for at least ten percent of their income within the next year (1 – no; 7 – yes)
20.2. When it comes to financial security issues, do you want to be more like most risk-averse people? (1 – completely different; 7 – very much)

21-26. ✪

Please select one from 1-7
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21.1. I expect to have additional income in the next year (1 – unlikely; 7 – likely)
21.2. Having additional income allows me to purchase life insurance that accounts for at least ten percent of my income within the next year (1 – disagree; 7 – agree)
22.1. I expect to have stable employment in the next year (1 – unlikely; 7 – likely)
22.2. Having stable income allows me to purchase life insurance that accounts for at least ten percent of my income within the next year (1 – disagree; 7 – agree)
23.1. I expect to be healthy in the next year (1 – unlikely; 7 – likely)
23.2. Being healthy enables me to purchase life insurance that accounts for at least ten percent of my income within the next year (1 – disagree; 7 – agree)
24.1. I expect to have no accidents in the next year (1 – unlikely; 7 – likely)
24.2. Having no accidents enables me to purchase life insurance that accounts for at least ten percent of my income within the next year (1 – disagree; 7 – agree)
25.1. I expect to have significant events (marriage, childbirth, or others) in the next year (1 – unlikely; 7 – likely)
25.2. Significant events during the year (marriage, childbirth, or others) will allow me to purchase life insurance that accounts for at least ten percent of my income within the next year (1 – disagree; 7 – agree)
26.1. I expect to have enough money to meet my living needs in the next year (1 – unlikely; 7 – likely)
26.2. Having enough money to meet living needs will allow me to purchase life insurance that accounts for at least ten percent of my income within the next year (1 – disagree; 7 – agree)

27. How do you think the life insurance you purchase, which accounts for at least ten percent of your income within the next year, will be: ✪

Please select one from 1-7
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1. (1- bad; 7 - good)
2. (1- unhelpful; 7 - helpful)
3. (1- unreasonable; 7 - reasonable)
4. (1- not another form of savings or wealth accumulation; 7 - is another form of savings or wealth accumulation)
5. (1- a guarantee of family wealth; 7 - is a guarantee of family wealth)
6. (1- general expense; 7 - stable investment)
7. (1- not an obligation; 7 - is an obligation)
8. (1- not reassuring; 7 - reassuring)
9. (1- non-financial investment; 7 - financial investment)
10. (1- not a pure risk investment; 7 - is a pure risk investment)

28-33. ✪

Please select one from 1-7 (1 – disagree; 7 – agree); (1 – unlikely; 7 – likely)
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28. Purchasing this life insurance that accounts for at least ten percent of my income within the next year is because of family.
29. Purchasing this life insurance that accounts for at least ten percent of my income within the next year is because of friends.
30. Purchasing this life insurance that accounts for at least ten percent of my income within the next year is because of colleagues or classmates.
31. Purchasing this life insurance that accounts for at least ten percent of my income within the next year is because of other important people to me.
32. Purchasing this life insurance that accounts for at least ten percent of my income within the next year is because of social trends.
33. Many people, like me, buy this life insurance that accounts for at least ten percent of their income within the next year.

34-39. ✪

Please select one from 1-7 (1 – disagree; 7 – agree); (1 – false; 7 – true)
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34. I purchase this life insurance that accounts for at least ten percent of my income within the next year because of my own interests.
35. Whether to purchase this life insurance that accounts for at least ten percent of my income within the next year is entirely up to me.
36. I am confident in my decision to purchase this life insurance that accounts for at least ten percent of my income within the next year.
37. I am confident in my knowledge of life insurance, so I am ready to purchase this life insurance that accounts for at least ten percent of my income within the next year.
38. I have experience or sufficient knowledge in investing and financial management, so I am ready to purchase this life insurance that accounts for at least ten percent of my income within the next year.
39. I can give advice to my friends and family regarding life insurance that accounts for at least ten percent of my income within the next year.

40-46. ✪

Please select one from 1-7 (1 – no; 7 – yes)
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40. I have plans to purchase life insurance that accounts for at least ten percent of my income within the next year.
41. I feel I need to purchase life insurance that accounts for at least ten percent of my income within the next year.
42. I can afford this life insurance that accounts for at least ten percent of my income within the next year.
43. I want to purchase life insurance that accounts for at least ten percent of my income within the next year.
44. I plan to purchase this life insurance that accounts for at least ten percent of my income.
45. I am going to buy life insurance that accounts for at least ten percent of my income within the next year.
46. In the past year, I have purchased life insurance that accounts for at least ten percent of my income.

47-48. ✪

Please select one from 1-7 (1 – unlikely; 7 – likely)
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47. I believe I will win the lottery.
48. I believe I will live to be 100 years old.

49. Nationality: ✪

50. Permanent residence: ✪

Please indicate where you spent the most time living in 2017

51. Gender: ✪

52. Age: ✪

Please calculate based on December 31, 2017

53. Marital status: ✪

54. Highest education: ✪

If you are a master's student, please check bachelor's degree

55. Occupation: ✪

56. Do you have a self-owned business? ✪

57. Number of family members: ✪

If a student living in a dormitory, can only select 1

58. Do you have your own children? ✪

59. Will your family members with children share this information with you? ✪

60. Your monthly income (after tax) is: ✪

New Taiwan Dollars

61.1. What percentage is used for consumption? ✪

Note: When answering 61.1, 61.2, 61.3, please indicate the percentage allocation of your income

61.2. What percentage is used for savings? ✪

Note: When answering 61.1, 61.2, 61.3, please indicate the percentage allocation of your income

61.3. What percentage is used for investments? ✪

Note: When answering 61.1, 61.2, 61.3, please indicate the percentage allocation of your income

62. What percentage does entertainment account for in your income? ✪

Please write the percentage

63. What percentage does insurance account for in your income? ✪

Please write the percentage

64. What percentage does life insurance account for in your income? ✪

Please write the percentage

65. Generally speaking, for you, insurance is: ✪

Please select one from 1-7 (1 – disagree; 7 – agree)
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1. A kind of expense
2. A kind of savings
3. A kind of investment

66. The benefits of insurance for me are: ✪

Please select one from 1-7 (1 – disagree; 7 – agree)
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1. Money for survival
2. Financial accumulation
3. Making me wealthy

67. According to my view, the following items are a financial investment: ✪

Please select one from 1-7 (1 – not an investment; 7 – a good financial investment)
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1. To me, bank deposits are:
2. To me, cash deposits are:
3. To me, insurance is:
4. To me, real estate investment is:
5. To me, liquid investments are:
6. To me, investments in rare metals (gold, platinum) are:
7. To me, financial instruments (stocks, bonds, treasury bonds) are:

68. What is your preference when investing in insurance? ✪

69. What is your preference when investing in insurance? ✪

70. Have you completed special studies in finance? ✪

If yes, the condition is that you have attended classes at an educational institution for at least one year

71. Do you currently have duplicate life insurance? ✪

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