From Aging Risks to Insurance Purchase Intentions: A Cross‐Cultural Integration of Social Influence and Planned Behavior Theories

Abstract

ABSTRACT This study investigates how non‐elderly consumers psychologically internalize aging risk (AR)—a context‐specific perception of future health, financial, and social uncertainty—into private medical insurance (PMI) purchase intentions (PI). Integrating Social Influence Theory (SIT) with the Theory of Planned Behavior (TPB), the study conceptualizes AR as a macro‐level antecedent that influences attitudes (AT), subjective norms (SN), and perceived behavioral control (PBC) through informational and normative pathways. Using partial least squares structural equation modeling across three studies in China and Malaysia ( N = 899), results show that AR significantly affects all TPB constructs, with AT emerging as the most robust mediator. Although mediation strength varies across countries, moderation tests confirm that the structural pathways linking AR to PI remain cross‐culturally stable. These findings advance theory by extending TPB with socially embedded risk perceptions and dual‐path influence mechanisms. Practical implications offer tailored strategies for insurers, policymakers, and communicators to address future‐oriented health behaviors in aging societies.

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