This study develops a comprehensive model to examine the factors influencing individual propensity to purchase life insurance (LI) within the Indian market. By integrating key psychological variables—attitude, subjective norms, and perceived behavioral control—with financial motivators such as saving motives and risk aversion, the study also explores the mediating effects of sociodemographic variables and financial literacy. Extending the Theory of Planned Behavior (TPB), this research offers a novel framework for analyzing life insurance buying intentions (BI) in India. The findings reveal that attitudes, subjective norms, perceived behavioral control, saving motives, and risk aversion significantly influence buying intentions, while financial literacy does not demonstrate a significant effect. Moreover, demographic factors including education, age, family income, and spousal education are critical in shaping these intentions. This research contributes to the theoretical understanding of consumer behavior in emerging economies and provides actionable insights for the life insurance industry in India.

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