Abstarct: This study aimed to identify and analyze the factors influencing the development of life insurance in Iran. Given the significant gap between Iran’s life insurance penetration rate and global standards, and the vital role of this industry in ensuring household financial security and capital market development, examining these factors is of great importance. The research is applied in nature and employs a descxriptive-correlational method. Data were collected from 400 policyholders of Asia Insurance Company in 2024 using a researcher-made questionnaire, whose validity and reliability were confirmed. Seemingly unrelated regression (SUR) was used for data analysis and hypothesis testing. Independent variables included individual and contextual factors such as age, education, income, employment, marital status, number of dependents, insurance duration, premium amount, and urbanization. Dependent variables encompassed three dimensions of life insurance development: political, psychological, and structural factors. The findings revealed that life insurance development is a multidimensional phenomenon influenced by a complex network of factors. Education and employment had strong positive effects across all three dimensions. Income and urbanization influenced the psychological and structural dimensions. Age affected the political and structural dimensions, while marital status and number of dependents had a positive impact only on the psychological dimension. Insurance duration influenced the structural dimension, and unexpectedly, premium amount had a negative effect on the political and psychological dimensions.