Digital Literacy and Willingness to Purchase Endowment Insurance among Middle-Aged and Elderly Adults

ZOU Xinyue; ZHANG Jinhong; YU Lina

Volume 40 Issue 3

May 2025

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ZOU Xinyue, ZHANG Jinhong, YU Lina. Digital Literacy and Willingness to Purchase Endowment Insurance among Middle-Aged and Elderly Adults[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(3): 40-53.

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ZOU Xinyue, ZHANG Jinhong, YU Lina. Digital Literacy and Willingness to Purchase Endowment Insurance among Middle-Aged and Elderly Adults[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(3): 40-53.

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Digital Literacy and Willingness to Purchase Endowment Insurance among Middle-Aged and Elderly Adults

1.
School of Finance, Guangdong University of Finance and Economics, Guangzhou 510320
2.
College of Economics and Management, South China Agricultural University, Guangzhou 510642, China

Received Date: 2024-04-15
Available Online: 2025-06-25
Publish Date: 2025-05-28

Abstract

Abstract

Using panel data from the China Family Panel Studies for 2014, 2016, 2018, and 2020, this study investigates how digital literacy and its underlying mechanisms influence the willingness of middle-aged and older adults to purchase endowment insurance. The findings show that higher digital literacy enhances cognitive abilities and digital skills, thereby increasing the likelihood of buying endowment insurance. Heterogeneity analysis reveals that this positive effect is stronger among the middle-aged, those with higher educational attainment, urban residents, and households with greater income and savings. Further examination indicates that digital literacy shapes consumption expectations and improves financial investment strategies. These results provide valuable insights for improving livelihoods and fostering a healthy ageing society.
- digital literacy,
- endowment insurance,
- cognitive ability,
- financial investment

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References(38)

References

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