Demand of microtakaful product in south areas of Malaysia / Nor Idayu Sumari

Most of low income and poor do not have financial protection in mitigating their financial losses. The need for financial protection among the low income and poor is crucial. There are many people who become poorer struggling with their life to cope with vulnerability. Most of these people have sold their assets; borrow money, young kids are forced to work to support their family. This scenario can be seen whereby there are demand of microtakaful product is still low in our market. Thus, researcher believed that there are loads of factors might be underwrote to the demand of the microtakaful that need to be revealed especially in Malaysia in order to encourage more low income and poor people to contribute to this scheme. The main purpose of this study is to delve into the matter further and explore selected factors that can be considered to be contributed for demand of microtakaful product in Malaysia. The study was conducted on respondents with low monthly income and those who fall into the poverty level category. Primary data was used in this study using distribution of questionnaire. A 150 set of questionnaires had been designed and distributed in order to obtain a quantitative primary data for this research. From the findings, all independent variables have significant result toward dependent variable and indicate that an awareness level is the best predictor to the demand of microtakaful product in Malaysia.