Factors Affecting Individual Life Insurance Ownership, A Study Of Penang Residents
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Date
2000
Authors
Lai Lai, Tan
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Abstract
This study examines how age, income, gender, ethnicity, perception of life insurance
benefits and attitude towards personal risk affects the individual life insurance
ownership. The relationship between education level with the perception of life
insurance benefits was also studied. The convenient sampling method was deployed
and 247 respondents around the Penang Island responded.
The findings of this study provides empirical evidence that male, non-Malay, higher
income group and those age above thirty five years old own significantly higher life
insurance. The perception of life insurance benefits and attitude towards personal risk
were also found to be affecting the magnitude of life insurance ownership. In addition,
the education level was found to be affecting individual perception of life insurance
benefits.
Description
Keywords
Insurance