A study on awareness of life insurance among policyholders in Johor Bahru, Johor / Radiah Abdul Halim

Life insurance has become one of the most important things in human life. Nowadays, Malaysian people realize the importance of life insurance to care for their life for an unexpected event or risk. Based on the data that provided by Bank Negara Malaysia (BNM) and Life Insurance Association of Malaysia (LIAM), show that premium income has impressive growth year by year but in year 2011, not more than 42% of total Malaysian population was policyholders. The research objective of this study was to identify the factors that contributes to the awareness of policyholders on life insurance and to identify the dominant factor that contribute to the awareness of policyholders on life insurance. This study shows that three factors will influence the level of awareness of consumer towards the life insurance, which are the income, education level and choice of product. As a conclusion, the income, education level and choice of product have a positive study correlation in influencing the consumer to buy the life insurance.