The Impact of Societal Ageing on Individual Consumers’ Insurance Purchase Intentions: A Review and Research Agenda

This study examines how societal ageing influences insurance purchasing intentions, addressing the prevailing emphasis on elderly consumers and the limited conceptual integration of ageing within existing behavioural models. Following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, a systematic review was conducted using an initial search (forty-three studies) supplemented by a top-up search in November 2025 that identified fourteen additional articles. Using the theories-contexts-characteristics-methods (TCCM) framework, the review synthesises theoretical, contextual, characteristic, and methodological patterns in this field. The findings indicate that although variables such as risk perception, anticipated dependence, and interpersonal influence are frequently examined, ageing itself is seldom conceptualised as an explanatory construct, constraining theoretical precision and practical relevance. To bridge this gap, the study introduces ageing risks (AR)-capturing perceived financial, health, and intergenerational uncertainties associated with demographic ageing-and illustrates its integration within the Theory of Planned Behaviour (TPB). The review highlights the need to validate AR empirically, extend research to non-elderly populations and underexplored regions, and broaden methodological approaches. These contributions strengthen theoretical development and inform more responsive insurance strategies in ageing societies.