Whole Life

Term Life

Pension Savings

Unit Linked

Dependent Variable

PB

Independent Variables

CPI

0.17575

0.80337**

1.50535***

1.06874***

(0.89496)

(2.40078)

(5.0897)

(4.30678)

U

0.27032***

0.16832

0.0238

0.04327

(4.16921)

(1.52347)

(0.2437)

(0.52813)

STR

0.36473

−0.71565

−0.05127

−1.02463**

(1.11198)

(−1.28041)

(−0.10379)

(−2.47208)

CCI

−0.55939**

−0.96774**

−1.34677***

−0.4815*

(−2.57001)

(−2.60914)

(−4.10823)

(−1.75059)

LTR

0.12046*

0.17718

0.23688**

0.39128***

(1.6571)

(1.43033)

(2.16364)

(4.25949)

GDPc

−1.61185***

0.53803

−0.47507

1.39888**

(−3.01663)

(0.59092)

(−0.59033)

(2.07179)

Constant

0.56224**

1.08254***

1.38695***

0.57586**

(2.61111)

(2.95035)

(4.27673)

(2.11638)

Observations

144

144

144

144

Adjusted R Squared

0.62855

0.38008

0.59271

0.55081