Policy Case Study: funeral insurance decision journey
The motivation to buy funeral insurance was often the need for emotional closure.
Here is an extract from our report for ASIC:
"The report describes the ‘journey’ that people took from thinking about their funeral, to buying a specific product to pay for it. Whether the product purchased was a prepaid funeral, a bond or an insurance policy, the journey was initiated for broadly the same reasons, and led to the same emotional conclusion. This journey had four stages: 1. A growing commitment to the idea 2. Response to a trigger to act 3. Product selection and purchase 4. Emotional closure"
Tags: Direct life insurance
