Ke arah Malaysia maju 2020 : perancangan dan pencapaian

Abstract

Insurance is a form of isl< management, a payment paid for protection from incidents. The industiial insurance i expected o grow partlcularly due to demographical change of the population structure with the increase in old age people, wealth and awareness of its importance. Marquis M. Susan et. al (L007) using logit regression rnodel to investigate the impact of insurance disclosed that health insurance is more effective while insurance piices have little effect only. Castellucci F (2004) have studied factors contributing to choice in buying health insurance. Using multiple regression analysis he found that income, cost of insurance and nature of risk and job availability are important factors that influence their decisions to buy insurance. Based on the previous studies the objective of this research is to investigate the sensitivity of the Muslim society to the conventional insurance and the Islamic insurance. This research utilizes primary data collected from 130 respondents with the help of questionnaires conducted in the state of Pahang, Terengganu and Kelantan. The results disclose that the Islamic insurance is still less popular among the Muslim society. Their knowledge of the society regarding Islamic insurance is relatively superficial even though they realize that the Islamic insurance is able to benefit them more compared to the conventional system of insurance.