Client's preferences for life insurance: a conjoint analysis

Abstract

This study aimed to assess the most and least preferred combination of a life insurance among residents of Digos City. Plancards were generated and administered through a purposive random sampling with 400 respondents. Conjoint analysis results showed that affordability has the most importance value, followed by image, service, mode of payment and affiliation. It is found that respondents want an affordable insurance that price ranges from 500 to 5,000 pesos per month, offered by life insurance company that is within the top 10 in net worth, affiliated with banks, and claim benefit released within a day. Keywords: master in business administration, life insurance, affordability, mode of payment, image, affiliation, Philippines