University of Isfahan New Marketing Research Journal 2228-7744 9 4 2020 02 20 Developing a Model of Policyholder's Surrender Behavior‏:‏‎ A Study Based on the Grounded Theory Developing a Model of Policyholder's Surrender Behavior‏:‏‎ A Study Based on the Grounded Theory 33 54 24485 10.22108/nmrj.2020.119121.1873 FA Hosseinali Bakhtiar Nasrabadi PhD Candidate of Marketing Management, Faculty of Management, University of Tehran, Tehran, Iran Tahmoures Hassangholi Pour Profesor, Business Management Department, Faculty of Management, University of Tehran, Tehran, Iran Seyed Abolghasem Mira Assistant Professor, Business Management Department, Faculty of Management, University of Tehran, Tehran, Iran. AbouAli Vedadhir Associated Professor, Anthropology Department, Faculty of Social Science, University of Tehran, Tehran, Iran Journal Article 2019 09 11 Life insurance policy surrender is one of the main challenges in enhancing penetration rate and life insurance development; so a proper understanding of motives, quality and process of the surrender behavior can help insurers to formulate and implement effective strategies to maintain the policyholder's loyalty and the contract. Due to the lack of a comprehensive behavioral model for life insurance surrendering, this study aimed to represent a better understanding of the phenomenon employing a qualitative research approach based on the grounded theory. Data were collected through in-depth interviews with 29 selected participants including policyholders, insurance agents, and life insurance experts, using theoretical sampling which continued until theoretical saturation. Data analysis was carried out systematically with open, axial, and selective coding mechanism, with a continuous iterative process between data, concepts, categories and the model. In this process, questioning and comparison strategies as well as memos, diagrams and paradigm tools were utilized to analyze the data. The research acceptability was considered based on the Corbin and Strauss' indices. As a research output, a cognitive-psychological model of life insurance surrender behavior was presented in the context of micro and macro environmental conditions and internal or individual circumstances in which post-purchase uncertainty affected the assessment of communication, and interactions and perceived behavioral control caused attitude uncertainty which, along with situational factors, particularly financial need and impulsive behaviors, cognitive, and psychological biases and intentions lead to life insurance surrendering. Life insurance policy surrender is one of the main challenges in enhancing penetration rate and life insurance development; so a proper understanding of motives, quality and process of the surrender behavior can help insurers to formulate and implement effective strategies to maintain the policyholder's loyalty and the contract. Due to the lack of a comprehensive behavioral model for life insurance surrendering, this study aimed to represent a better understanding of the phenomenon employing a qualitative research approach based on the grounded theory. Data were collected through in-depth interviews with 29 selected participants including policyholders, insurance agents, and life insurance experts, using theoretical sampling which continued until theoretical saturation. Data analysis was carried out systematically with open, axial, and selective coding mechanism, with a continuous iterative process between data, concepts, categories and the model. In this process, questioning and comparison strategies as well as memos, diagrams and paradigm tools were utilized to analyze the data. The research acceptability was considered based on the Corbin and Strauss' indices. As a research output, a cognitive-psychological model of life insurance surrender behavior was presented in the context of micro and macro environmental conditions and internal or individual circumstances in which post-purchase uncertainty affected the assessment of communication, and interactions and perceived behavioral control caused attitude uncertainty which, along with situational factors, particularly financial need and impulsive behaviors, cognitive, and psychological biases and intentions lead to life insurance surrendering. https://nmrj.ui.ac.ir/article_24485_7a847c23bfac9469774dc0a1e82b59a4.pdf