Socio-Demographic Correlates of Commercial Pension Insurance Purchase Intention: A Systematic Review with Evidence from China
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Objective: The rapid demographic shift in China to aging is a psychosocial and cultural dilemma that is especially challenging in terms of the acquisition of financial security in old age. Although commercial pension insurance is marketed as an essential add-on to the state welfare systems, psychological and socio-cultural aspects that predetermine the readiness of individuals to buy are not well comprehended. Previous studies have mostly focused on economic and institutional factors, and have not focused on the embodied, relational, and cultural aspects of the aging population's decision-making.
Methods and Materials: In order to fill this gap, this paper presents a PRISMA-guided SLR of 15 studies (2015–2025 in such databases as Web of Science, Scopus, and Google Scholar.
Findings: As shown by the review, the perceived health status, financial literacy, institutional trust, family structure, subjective aging, life satisfaction, and educational background are the variables that have a strong impact on insurance behavior. Particularly, the impact of income and urban–rural residency takes place through psychological constructs, including the influence of age-related anxiety, future orientation, and perceived autonomy.
Conclusion: These results indicate that choices related to retirement security do not only occur on the economic plane but are deeply rooted in cultural accounts and psychosocial identities. The review provides culturally informed insights for policymakers, financial institutions, and health professionals who seek a more holistic approach to older adults’ financial security.
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