Kuhlemeyer, 1999 (2)

Kuhlemeyer, G. A. & Allen, G. H. (1999). Consumer
satisfaction with life insurance: A benchmarking survey. Financial Counseling
and Planning
, 10 (2), 35-47.

Satisfaction With Life Insurance:

Benchmarking Survey


A. Kuhlemeyer1

Garth H. Allen2

This research explores consumer satisfaction relevant to the purchase
of life insurance products and compares satisfaction in a broker or agent
assisted transaction with satisfaction when no broker or agent is used,
direct placement. Benchmarks are identified for consumer satisfaction with
the life insurance product, the agent, and the institution. The research
shows that trust, competence, and product appropriateness play an integral
part in consumer satisfaction. Practicing financial planners can apply
the implications of this study in their own practices, and/or future researchers
can determine whether consumer satisfaction increases or decreases as distribution
and marketing methods evolve.

Key Words: Customer satisfaction, Financial counseling, Life insurance

1. Gregory A. Kuhlemeyer, Associate Professor of Business Administration
at Carroll College in Waukesha, Wisconsin. Phone: 262-524-7160. Fax: 262-524-7397.
Email: gkuhleme@cc.edu

2. Garth H. Allen, Associate Professor, Department of Finance, Kenneth
W. Monfort College of Business, University of Northern Colorado, Greeley,
CO 80639, Phone: 970-351-1234. Fax: 970-351-1097. E-mail: gallen@unco.edu

The authors would like to thank Diana Harrington and others at the
1998 Academy of Financial Services Conference, Ken Cyree, Atul Saxena,
and Christine McClatchey for their time and thoughtful comments.

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