SITI NURASYIKIN SHAMSUDDIN Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban
It has been demonstrated that underinsurance and financial illiteracy have a substantial negative influence on the sustainability and well-being of families' finances. However, research indicates that not everyone who is financially literate is also educated about insurance and that getting a more specialized education helps increase insurance literacy. It is unclear how insurance literacy affects people's decision to get and maintain insurance. Hence, this product will descriptively analyze the insurance literacy profile of Malaysian customers concerning life insurance decisions and demonstrate that there is a significant difference in insurance literacy between those whose policies have lapsed and those whose policies have not.
