The study attempts to increase the knowledge of how customers’ perception of a company’s innovativeness and service quality has influenced their repurchase of life insurance. This research aims to investigate, develop and validate a causal relationship model of life insurance repurchase by means of structural equation modelling (SEM) analysis. The sample group of 400 people who had bought insurance policies from companies in Thailand was approached to answer a structured questionnaire. Results revealed that repurchase of life insurance was directly affected by customers’ perceived company’s innovativeness and customer satisfaction, and indirectly affected by service quality of insurance agents. From previous studies related to correlation between service quality elements and repurchase, the correlation between corporate image and repurchase was well clarified, the interrelationship among the factors related to insurance company’s innovativeness was not well illustrated. Thus, this research has developed a generic model of life insurance repurchase by means of structural equation modelling, which has value for its originality.