The Intention to Purchase Life Insurance: A Case Study of Staff in Public Universities

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• 作者：Zainuddin Zakaria^a ; ^{hzainudd@tganu.uitm.edu.my" class="auth_mail" title="E-mail the corresponding author} ; Nurul Marina Azmi^a ; Nik Fakrul Hazri Nik Hassan^a ; Wan Anisabanum Salleh^a ; Mohd Tajul Hasnan Mohd Tajuddin^b ; Nur Raihana Mohd Sallem^b ; Jannah Munirah Mohd Noor^c
• 关键词：Takaful ; Malaysia ; awareness ; public universities ; Religiosity ; saving motives ; financial literacy
• 刊名：Procedia Economics and Finance
• 出版年：2016
• 出版时间：2016
• 年：2016
• 卷：37
• 期：Complete
• 页码：358-365
• 全文大小：128 K

文摘

The last 20 years has seen a drastic increase in the cost of living in Malaysia. This scenario highlighted the value of acquiring proper financial management scheme that will enable the Malaysian citizen to enjoy their retirement years comfortably. Past research revealed that there is lack of understanding and awareness of having life insurance or Takaful plan. Furthermore, since 2014, there has been an increase in fees for medical consultation and procedures. This explains the importance for an individual to be insured, regardless of whether it is through conventional life insurance or Takaful. Having an insurance policy will not only reduce the retirement gap, but it will also help Malaysians to secure financial security for their family and also in meeting outstanding financial obligations. This study hopes to determine the perception of public university's staff in acquire a life insurance or Takaful using self administered survey. Thus, the main objective of this paper is to determine the factors that may influence the staff of public universities to purchase or not purchase a conventional life insurance or TAKAFUL policy. Data collected was analysed using Correlation and Multiple Regression analysis.