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The debut of insurance in Malaysia dates back to the 18th and 19th centuries where trading houses and bureau houses acted as agents for insurance companies from the United Kingdom. Upon the accomplishment of independency, there was an attempt to set up domestic insurance companies. The early 1960 ‘s saw the growing of many life and general insurance companies. Some of these companies operated on an unsound footing with improper underwriting guidelines. The Government later intervened and the Insurance Act, 1963 was introduced. Under the Act, the general behavior and supervising of the insurance industry was vested in the Director-General of Insurance under the Ministry of Finance.

In the early theoretical literature, most theories sing life insurance purchases concluded that hazard antipathy is one of the of import factors to act upon consumers ‘ buying determinations ( Yaari, 1965 ; Mantis and Farmer, 1968 ; Fisher, 1973 ; Campbell, 1980 ; Lewis, 1989 ; Bernheim, 1991 ) . Zietz ( 2003 ) loosely considered cardinal economic, fiscal, and demographic factors act uponing life insurance purchases. These consequences included disposable income, fiscal development, societal security, hazard antipathy, and instruction degree. The Finance and Insurance sub-sector grew by 6.4 % ( 2Q 10: 8.4 % ) led by the sustained growing in net involvement income during the one-fourth ( 2010 ; Quarterly Bulletin, Development in the Malayan Economy ) .

In Law and Economics, insurance is a signifier of hazard direction chiefly used to fudge against the hazard of a contingent unsure loss and insurance is an intricate economic and societal device for the handling of hazards to life and belongings. It is societal in nature because it represents the cooperation of assorted persons for common benefits by uniting together to cut down the effect of similar hazards. Insurance industry nowadays is become an built-in portion of the planetary fiscal market, with insurance companies being important institutional investors. In recent decennaries, the insurance sector has grown in economic importance.

Life insurance is designed to protect against premature decease and old-age pension. Death is an uncertainness because we do non cognize when we will decease. For most people decease at any age may be considered premature when one dies before equal readying has been made for future fiscal demands of dependents. Life insurance therefore becomes the mechanism for one to guarantee a uninterrupted watercourse of income to the donees. We are concerned with superannuating as a individual can outlast his income gaining ability. Again, life insurance may function as a mechanism to guarantee a uninterrupted watercourse of income.

Life insurance comes in two basic types, whole life and term life. The chief different is the term covered by the insurance policy. Whole life insured people until them die. Term life insured people for certain figure of old ages. Life insurance is used to replace whole or portion of the economic value of human life either for household or concern intents. Life insurance provides a cautionary benefit to a dead person ‘s household or other designated beneficiary such as income and besides used to finance funeral and other disbursals related. Life insurance policy frequently allows the option of holding the compensation sum paid to the donee in lump amount hard currency.

1.1 BACKGROUND OF THE STUDY

For the individual who really starts his or her ain concern, the experience is filled with enthusiasm, defeat, anxiousness, and difficult work. There is a high failure rate due to such things as hapless gross revenues, intense competition, deficiency of capital, or deficiency of managerial ability. The fiscal and emotional hazard can besides be really high. That can be best explored by looking at the determination procedure involved in going an enterpriser.

The construct of an enterpriser is further refined when rules and footings from a concern, managerial, and personal position are considered. In peculiar, the construct of entrepreneurship from a personal position has been exhaustively explored in this century. They all contain similar impressions, such as newness, forming, making, wealth, and hazard pickings.

Entrepreneurs will necessitate to set up two types of insurance plans, foremost is Property & A ;

Casualty ( Liability ) insurance ( some refer to it as “ P & A ; C ” or “ concern insurance ” ) , and the 2nd is insurance plans for wellness, life, and disablement, Insurance is the transportation of hazard from the concern proprietor to an insurance investment banker and allows concern proprietors and suppliers of capital to concerns to, in kernel, take on extra hazard or pursue activities that, uninsured, might turn out excessively unsure to put on the line capital ( 2003, Insurance Essentials for Entrepreneurs ) .

There are besides 100s of insurance companies selling group wellness, life and disablement coverage, but normally 5-10 that are competitory for little concerns in each province. Each insurance company offers fluctuations of their wellness and life insurance merchandise that vary the benefits paid, which affects the cost. Complimenting the insurance coverage should be the stairss that can be take to cut down the possibility of losingss ( 2003, Insurance Essentials for Entrepreneurs ) . Yet each definition is slightly restrictive, since enterprisers are found in all professions instruction, medical specialty, research, jurisprudence, architecture, technology, societal work, distribution and Government. So, there are four factors that can act upon enterpriser on buying life insurance.

1.2 PURPOSE OF STUDY

The intent of the survey is to analyse and place the factors that can act upon enterpriser on buying life insurance in Klang Valley. This survey besides was conducted to look into the consciousness of enterprisers towards life insurance merchandises.

1.3 SCOPE OF STUDY

In this survey, the research worker chooses the population at Klang Valley because there are many enterprisers in Klang Valley country. These enterprisers are consists of retail merchants, contractors, makers and many else.

1.4 PROBLEM STATEMENT

The Malayan insurance industry maintained positive growing in 2005 despite more ambitious investing disputing conditions. One major characteristic in the modern society is increasing hazards in economic life. When we talk about hazard in the economic life, we are mentioning to the hazard which may take to the happening of loss. Although authoritative economic sciences acknowledges the difference of hazard bearing across different persons, there is deficiency of patterning on different economic consequences due to the being of hazards. But there are some enterprisers still do non cognize and non to the full understanding why they should purchase insurance.

This survey is to happen the chief factor among the three major factors that can act upon enterpriser ‘s determination to purchase life insurance. This survey will be utile to the enterpriser to cognize why they should purchase insurance and to the insurance company it is good or them to cognize what is the chief factorization that can act upon them on purchasing life insurance.

1.5 RESEARCH Question

What is the chief factor that can act upon the ownership of life insurance among enterprisers in Malaysia?

How can the satisfaction degree of clients affect the ownership of life insurance among enterpriser?

How company trueness can impact enterpriser on purchasing life insurance?

How importance the features of life insurance merchandise?

1.6 RESEARCH OBJECTIVE

To place the chief factor that can act upon enterpriser on purchasing life insurance.

To place the relationship between independent variables toward dependent variables.

To place on how can demographic factors act upon the ownership of life insurance among enterprisers

1.7 SIGNIFICANT OF STUDY

The consequence of this research will assist enterprisers in Malaysia to hold better and deeper cognition about insurance and therefore will give consciousness to them the benefit and importance of insurance. On the other manus this research besides can assist insurance companies to construct up some good thoughts on how to better and increase the ownership of life insurance merchandises among enterprisers. This research besides can assist the insurance company to plan suited program so that meet the consumer ‘s fiscal place.

The consequence of this research will assist insurance companies to cognize the chief factor that can act upon enterpriser ‘s determination to purchase life insurance. This research besides will give grounds on how worthy they spend their money for the insurance intents.

1.8 THEORETICAL FRAMEWORK

In this subdivision, this survey presented a simplified theoretical model situating the assorted grounds that will be the chief factor that can act upon the ownership of life insurance among enterpriser in Malaysia.

Importance OF PRODUCT CHARACTERISTICS

DEPENDENT VARIABLE

INDEPENDENT VARIABLES

FACTORS INFLUENCING OWNERSHIP OF LIFE INSURANCE AMONG ENTREPRENEUR IN MALAYSIA

SATISFACTION LEVEL

Company LOYALTY

Figure 1

Figure 1 shows theoretical model of all the factors that can act upon the ownership of life insurance among enterprisers. Based on the theoretical frame work above, there are two of import variables which explain the relationship between each viz. dependent and independent. The dependent variable would be the factors that can act upon the ownership of life insurance among enterprisers in Malaysia. The independent variables are the importance of merchandise features, satisfaction degree and company trueness. This average one of the three factors will be the chief factor that can act upon entrepreneur determination on purchasing life insurance.

1.9 LIMITATION OF STUDY

This research has been conducted to place the chief factor that can act upon the ownership of life insurance among enterprisers in Malaysia. There are the of import of merchandise features, satisfaction degree and company trueness. These factors become the independent variables which affects the dependant variable. The restrictions that have been face during this research are like the research country, answering response, clip, suited information and cooperation from related party.

Unavailability informations from respondents, where the research worker is non able to cognize whether respondents are non genuinely reply the inquiry given or otherwise. This can give affects to the research consequence, because we as the research worker unable to acquire approximative informations. This research will merely concentrate on the Klang Valley country because it had been chosen as country for range of survey. This research can non travel beyond the country.

Besides the barrier that has been found is the clip to finish the research is limited in a period of four months merely. Roll uping informations such as administering questionnaire making informations analysis is clip devouring due to some of respondents might non return and response the questionnaire. This besides can convey troubles to the research worker to acquire the information rapidly to acquire the best consequence. It is because the earlier we can acquire data the more clip that we can pass to travel through each information exhaustively.

1.10 DEFINITION OF TERMS

Insurance company or insurance company

Insurance in simple term is a contract between the individual who buys insurance and insurance company who sold the policy. The individual is called insured. Insurance companies collect premiums from insured and supply them with protection. By paying amount of money to insurer, people can safeguard themselves and their household financially from unfortunate event.

Entrepreneurs

EntrepreneurA is an proprietor or director of a concern endeavor who makes money through hazard and enterprise. It is a term applied to a individual who is willing to assist establish a new venture or endeavor and accept full duty for the result. The enterpriser displacements economic resources out of lower and into higher productiveness and greater output. In this survey, enterprisers are to be taking as respondent. Entrepreneur chosen must hold insurance coverage either life or general insurance, so that they can response efficaciously to the inquiry asked in this survey.

Insured

The individual who obtains or is otherwise covered by insurance on his or her wellness, life, or belongings. TheA insuredA in a policy is non limited to the insured named in the policy but applies to anyone who is insured under the policy.

Premium

The specified sum of payment required sporadically by an insurance company to supply coverage under a given insurance program for a defined period of clip. The premium is paid by the insured party to the insurance company, and chiefly compensates the insurance company for bearing the hazard of a payout should the insurance understanding ‘s coverage be required.

Respondent

AA respondentA is a individual who is called upon to publish a response to a communicating made by another. InA legal use, this specifically refers to theA defendantA in aA legal proceedingA commenced by a request, or to an aghast, or the opposing party, in anA appealA of a determination by an initial fact-finder. In non-legal or informal use, the term refers to one who refutes or responds to a thesis or an statement. InA cross-cultural communicating, the 2nd individual reacting to the significance or message from an original beginning which has beenA contextualisedA or decoded for the apprehension of respondents asA receivers or hearersA of the message happening from a different cultural context. The term as used inA psychologyA evokes a much faster and less thoughtful reaction. In that field, answering conditioning is a equivalent word for classical or Pavlovian conditioning. Respondent behaviour specifically refers to the behavior systematically elicited by a reflexive or classically learned stimulation.

Chapter 2

2.0 LITERATURE REVIEW

2.1 Importance of Product Characteristics

Merchandise features are properties of a merchandise that a client can take. For illustration, we sell a merchandise in three colourss. As portion of making this merchandise, we would specify an property called Color and delegate it the three colourss. As portion of buying the merchandise, clients would take one of the colourss. A merchandise property or features has two parts: the name of the property and the possible values of the property. For illustration, we could specify an property of the insurance with the same benefits and the rates of premium are different among the different companies. The allowable values for an property are called the property sphere. In a constellation session, client can choose merely one value for an property ( 2007, About Product Attributes ) .

Merchandise properties and merchandise characteristics are similar constructs. They both describe features of the merchandise that are of involvement to clients. However, feature definitions do non make configurability. We can specify properties straight in the disposal interface. We do non necessitate to make database table extensions or new field definitions in Oracle ‘s Siebel Tools. Properties are implemented in a manner that allows clients to choose the coveted property value when they configure the merchandise. ( 2007, About Product Attributes ) .

Contending a individual concrete to abstract attribute continuum allows see research to concentrate on an of import theoretical issue, the inherently complex construction of property or propositional cognition ( Anderson 1983, Oden 1987 ) . In peculiar, Howard ‘s theory of purchaser behaviour ( Howard 1977 ; Howard and Sheth 1969 ) uses a concreteness-abstractness continuum to get down to turn to the critical inquiry of property construction. Following the basic rules of classification ( californium. Rosch 1975 ) , Howard views consumers as consistently grouping and separating merchandises, on the footing of similarity, into hierarchies. Consumers make picks at different degrees of these hierarchies or different degrees of abstraction. Category-level picks occur at more abstract degrees of a hierarchy, while brand-level picks occur at a more concrete degree. An of import constituent of Howard ‘s theoretical account is that consumers besides form hierarchies of properties, from the abstract to the concrete, that correspond to their merchandise hierarchies. A major anticipation of the theoretical account is that consumers select and procedure properties at a degree of abstraction of their property hierarchies that corresponds to their degree of pick. Howard therefore predicts a direct relationship between the degree of abstraction of a pick ( e.g. , class versus trade name ) and the abstractness of the pick standards. Boote ( 1975 ) , utilizing Rokeach ‘s instrumental and terminal values as placeholders for concrete and abstract pick standards, reports a survey that supports this hypothesis. Recently, Johnson and Fornell ( 1987 ) found support for a generalised version of Howard ‘s hypothesis. They found the abstractness of descriptive merchandise properties, non merely pick standards, changing straight with the abstractness of the merchandise. This consequence is consistent with bing positions of human memory ( Anderson 1983 ) and, in peculiar, the construct of cognitive economic system ( Collins and Loftus 1975 ) . Another facet of Howard ‘s property hierarchies that is good supported is the impression that descriptive properties by and large decrease with abstraction ( Boote 1975 ; Johnson 1984 ) . Abstraction, by definition, implies a concentration or summing up of attribute information ( 2004-2009 ; The Nature of Product Attributes ) .

As research on ingestion experiences grows, grounds suggests that consumers purchase goods and services for a combination of two types of benefits where are hedonistic and useful. Hedonic benefits are associated with the sensory and experiential properties of the merchandise. Utilitarian benefits of a merchandise are associated with the more instrumental and functional properties of the merchandise ( 1990 ; Batra and Athola ) .

2.2 Satisfaction Level

Customer satisfaction, this is a term often used in selling, is a step of how merchandise and services supplied by a company meet or surpass client outlook. In a study of about 200 senior selling directors, 71 % of answering respond that they found a client satisfaction metric really utile in pull offing and supervising their concerns ( 2010 ; Marketing Prosodies, The Definitive Guide to Measuring Marketing Performance ) . It is seen as a cardinal public presentation index within concern and is frequently portion of a Balanced Scorecard. In a competitory market place client satisfaction is seen as a cardinal discriminator and progressively has become a cardinal component of concern scheme ( 2005 ; The Future of Business, The Necessities. Mason, Ohio: South-Western ) . Customer satisfaction is measured at the single degree, but it is about ever reported at an aggregative degree. It can be, and frequently is, measured along assorted dimensions.

File: Business Feedback Loop PNG version.png

A concern ideally is continually seeking feedback to better client satisfaction. Customer satisfaction informations are among the most often collected indexs of market perceptual experiences.

If gross revenues are the engine that drives the concern, so client satisfaction is the fuel. The minimal demand to merely remain in concern or to last in the concern is to run into the client outlooks. Sometimes in concern and as enterpriser should transcend the client outlooks. Customer who experience the sort of service that exceeds their outlooks are frequently willing to pay for it, enabling provider to raise monetary values and therefore better net income borders ( 2009 ; Level of Customer Satisfaction by Brian Tracy ) .

Each organisation needs to retain bing clients while aiming non-customers. Measuring client satisfaction provides an indicant of how successful the organisation is at supplying merchandises or services to the market place. It is indispensable for concerns to efficaciously pull off client satisfaction. Firms need dependable and representative steps of satisfaction. Good quality steps need to hold high satisfaction burdens, good dependability, and low mistake discrepancies. Customer satisfaction is an equivocal and abstract construct and the existent manifestation of the province of satisfaction will change from individual to individual, merchandise to merchandise and service to service. The province of satisfaction depends on a figure of both psychological and physical variables which correlate with satisfaction behaviours such as return and urge rate. The degree of satisfaction can besides vary depending on other options the client may hold and other merchandises against which the client can compare the organisation ‘s merchandises or services.

2.3 Company Loyalty

At a really general degree, trueness is something that consumers may exhibit to trade names, services, shops, merchandise classs and activities. Loyalty can be defined as chiefly an attitude that sometimes leads to a relationship with the trade name ( 1999 ; Oliver ) . Customer trueness can be defined in two distinguishable ways ( 1996 ; Roger Hallowell ) . The first defines trueness as an attitude. Different feelings create an person ‘s overall fond regard to a merchandise, service, or organisation ( 1994 ; Fornier ) . These feelings define the person ‘s grade of trueness.

Company trueness is the trueness of clients towards the company that they choose. Customer trueness in service industries has received considerable attending in both selling and direction theory and pattern. As client trueness may move as a barrier to client exchanging behaviour it has an impact on the development of a sustainable competitory border ( 1995 ; Keaveney, 1996 ; Gremler and Brown ) . The past decennaries has seen many steadfast follow a client focal point, frequently through a formal plan of client relationship direction ( 2000 ; Brown ) . Two purposes of client trueness plans stand out. One is to increase gross revenues grosss by raising purchase or use degrees and increasing the scope of merchandises bought from the provider. A 2nd purpose is more defensive by constructing a closer bond between the trade name and current clients it is hoped to keep the current client base.

In insurance position, insurance companies are the 1s that can develop an overall corporate client scheme where alining multiple client touch points improves concern executing. There are four keys from Harold Goldberg. First, insurance companies should shut the sale of merchandise. The primary end is about supplying the client with a pleasant experience instead than merely shuting the sale. Second, deliver on a promise of the contract. Third, claiming the client. This is critical status for the insurance company since the agent or the claims adjustor must sympathize with the client and be as supportive and helpful as possible. Lastly is alignment in order to procure client trueness, insurance companies must hold processs in topographic point to supervise the public presentation of the gross revenues and service staff in these four countries.

Chapter 3

3.0 RESEARCH METHODOLOGY

RESEARCH METHODOLOGY

Datas can be collected in assortment of ways, at different scenes and from different beginnings. The two types of informations aggregation method used for this research would be primary beginnings and secondary beginnings for the intent of analysing and proving of the research inquiries.

Sample description

In this survey, the clients of insurance companies which are entrepreneur group had been chosen as sample mark. The sample taken for this survey would be 120 respondents.

PRIMARY DATA

Primary informations are collected first manus, for subsequent analysis and happen solutions to the job being researched. Primary data that will be used would be responds from the questionnaire and replies from interviews that have been conducted. The extractions from this primary informations are of import to back up all the findings from the research and will do the research valid itself. By utilizing primary informations that is collected through study has been most often used method of informations aggregation.

Questionnaires

Questionnaires are an efficient informations aggregation mechanism when the research worker knows precisely what is required and how to mensurate the variables of involvement. This is so that the completed response can be collected in a short period of clip and any uncertainties the respondents have on inquiry could be clarified on the topographic point. The information gathered will be analyzed and presented in charts, tabular arraies, and graphs.

The questionnaires consist of four subdivisions viz. Section A, Section B, Section C, Section D and Section E. The questionnaire will get down with the demographic information of respondents. The following portion of the questionnaire shall be the importance of merchandise charateristics. Section C is the inquiry that related to the satisfaction degree, Section D consists of inquiries that related to the company trueness. Last subdivision, Section E is for dependent variables. The questionnaires are adapted from a thesis on Factor Influencing Consumers ‘ Life Insurance Purchasing Decisions in China by Huihui Wang in 2010 and A survey of the Factors Enhancing the Purchase of Life Insurance in Nigeria in 2011.

Likert graduated table will be used in most inquiries as it is used to find the degree of satisfaction or dissatisfaction of the respondent with the service in 5 point graduated table:

Strongly dissatisfied

1

Dissatisfied

2

Neither satisfied or dissatisfied

3

Satisfied

4

Strongly satisfied

5

SECONDARY DATA

Secondary informations are informations that are gathered by person else prior to the current demands of the research worker. Beginnings of secondary informations include books, diaries, authorities publications, statistical informations, abstracts, articles, informations bases and one-year studies.

Printed beginnings

Library beginnings

Beginnings from books and articles from the library will be used to back up the theories and findings to guarantee that no of import factors or information are left out which is relevant to the survey.

Published informations and thesis

Previous theses are other beginnings of information that will besides be used as guidelines to the research worker and farther support the research findings.

Electronic beginnings

Web sites from the World Wide Web were used as rich beginnings of information as it is speedy and dependable information are available that can be used in the survey

Data analysis technique

In this research, informations analysis technique is really utile in supplying an lineation for the method used in analysing and showing the information that has been collected. Several methods that are traveling to be used in this research are frequency analysis.

Statistical Package for Social Science Tool ( SPSS ) will be used. The theoretical model earlier expresses the relationship among the independent variable and dependent variables enrolment determination. Multiple Regression Analysis can be used to explicate whether the independent variables explain the alterations that can come out in the dependant variable.

Chapter 4

4.0 FINDINGS AND DISCUSSIONS

4.1 Respondent ‘s Profile

Variables

Nitrogen

%

Variables

Nitrogen

%

Gender

Monthly Income

Male

36

30.0

& lt ; RM2000

30

25.0

Female

84

70.0

RM2001 – RM3000

45

37.5

Age

RM3001 – RM4000

31

25.8

& lt ; 25

43

35.8

& gt ; RM4001

14

11.7

26 – 35

35

29.2

Education Degree

36 – 45

21

17.5

SPM

7

5.8

46 – 55

21

17.5

Diploma

52

43.3

Marital Status

Bachelor Degree

58

48.3

Single

75

62.5

Maestro

3

2.5

Married

45

37.5

Table 4.1 Respondents Profile

The sum of 120 valid questionnaires was analyzed. There is more on female respondents than male respondents ( 70 % versus 30 % ) . Majority of the respondents was less than 25 old ages old ( 35.8 % ) , so it can be concluded that most of respondents are immature enterprisers. It shows that individual respondent have the highest engagement in this survey ( 62.5 % ) . Most of the respondents were Bachelor grade holders ( 48.3 % ) , and bulk earned a monthly income scope between RM2001 – RM3000. The profile of respondents is illustrated in the Table 4.1.

4.2 Descriptive Analysis

Variables

Nitrogen

Minimum

Maximum

Mean

Std. Deviation

Variance ( % )

Importance of Product Characteristics

120

4.00

5.00

4.6646

.28161

7.93

Satisfaction Level

120

3.00

5.00

4.1208

.42006

17.645

Company Loyalty

120

3.75

5.00

4.3125

.42289

17.884

Purpose of Ownership

120

4.00

5.00

4.2750

.44839

20.11

Table 4.2 Descriptive Analysis on factor that influence the ownership of life insurance among enterpriser in Malaya

Descriptive analysis in table 4.2 provide an information of continues variable that influence client ‘s purpose to ain Life Insurance policy. The variables identified in the questionnaire are the importance of merchandise features, satisfaction degree and company trueness. Finding shows that the highest discrepancies of the factors are satisfaction degree and company trueness ( 17.65 % and 17.88 % severally ) . It can be concluded that respondents are really concern in service satisfaction and company trueness to do a determination on purchasing Life Insurance. This consequence may be due to many issues sing the quality of the service provided and due to company repute and benefits provided.

4.3 Reliability Analysis

Variables

Cronbach ‘s Alpha

Important of Product Characteristics

1.000

Satisfaction Level

0.762

Company Loyalty

0.920

Purpose of Ownership

1.000

Table 4.3 Reliability Analysis

Dependability refers to the extent to which a graduated table produces consistent consequences if measurings are made repeatedly ( Sekaran, 2010 ) . Reliability testing was done to analyze the consistence and the stableness of the research points. The Cronbach ‘s Alpha is used to mensurate dependability. If the value of Cronbach ‘s Alpha above 0.5, it is acceptable. A value below than 0.5, indicates unsatisfactory internal consistence dependability. Table 4.3 indicates that the Cronbach ‘s Alpha in the survey is & gt ; 0.5 for all variable. This means it is dependable and the overall variables with 4 points could be acceptable in this survey.

4.4 Hypothesiss Testing

The undermentioned analyze the relationship between importance of merchandise features, satisfaction degree and company trueness with enterpriser ‘s purpose to ain Life Insurance.

H1: There is relationship between the importance of merchandise features with enterpriser ‘s purpose to ain Life Insurance.

H2: There is relationship between satisfaction degree towards service provides with enterpriser ‘s purpose to ain Life Insurance.

H3: There is relationship between the truenesss of enterprisers towards company with enterpriser ‘s purpose to ain Life Insurance.

Correlations

importantproductcharacteristic

satisfactionlevel

companyloyalty

intentionofownership

importantproductcharacteristic

Pearson Correlation

1

Sig. ( 2-tailed )

Nitrogen

120

satisfactionlevel

Pearson Correlation

-.164

1

Sig. ( 2-tailed )

.074

Nitrogen

120

120

companyloyalty

Pearson Correlation

-.245**

.483**

1

Sig. ( 2-tailed )

.007

.000

Nitrogen

120

120

120

intentionofownership

Pearson Correlation

-.248**

.402**

.961**

1

Sig. ( 2-tailed )

.006

.000

.000

Nitrogen

120

120

120

120

** . Correlation is important at the 0.01 degree ( 2-tailed ) .

Table 4.4 Correlation among importance of merchandise features, satisfaction degree and company trueness with the enterpriser ‘s purpose of ownership Life Insurance

Pearson Correlation analysis is used to stress the strength and way of the relationship between two variables. The study of findings is as table 4.4. The variables in the correlativity analysis displayed in table 4.4 are importance of merchandise features, satisfaction degree and company trueness. Importance of merchandise features result showed the negative mark that means the factor is less of import. Satisfaction degree showed reasonably positive relationship with purpose of ownership Life Insurance ( r = 0.40 ) . Besides that, company trueness has reasonably high positive relationship with the purpose of enterpriser to ain Life Insurance ( r = 0.96 ) .

4.5 Multi Regression Analysis

Model Summary

Model

Roentgen

R Square

Adjusted R Square

Std. Mistake of the Estimate

1

.964a

.929

.927

.12089

Table 4.5 Independent variables interpret Dependent Variable

The R Square indicates the per centum of independent variable which is importance of merchandise characteristic, satisfaction degree and company trueness can explicate the dependant variable, the factor that can act upon the ownership of Life Insurance among enterprisers in Malaysia. Table 4.5 explains that 92.9 % of the independent variables can explicate dependent variable.

Coefficientsa

Model

Unstandardized Coefficients

Standardized Coefficients

T

Sig.

Bacillus

Std. Mistake

Beta

1

( Constant )

.206

.261

.788

.432

importantproductcharacteristic

-.026

.041

-.017

-.648

.518

satisfactionlevel

-.088

.030

-.083

-2.920

.004

companyloyalty

1.057

.031

.997

34.652

.000

Table 4.6 Relationship between Independent Variables and Dependent Variable

Arrested development analysis is used to analyze the relationship between independent and dependent variable. Based on arrested development analysis in table 4.6, all the variables are important except for importance of merchandise features. The relationship between company trueness and purpose of ownership are important ( p & lt ; 0.01 ) . Satisfaction degree are besides important ( p & lt ; 0.1 ) . The consequence of this survey is rather similar with old surveies conducted by Huihui Wang ( 2010 ) and Festus M. Epetimehin ( 2011 ) .

Chapter 5

5.0 CONCLUSION AND RECOMMENDATION

5.1 Decision

Findingss showed that bulk female respondents have more purpose to having Life insurance ( 70 % ) other than male respondents ( 30 % ) , largely aged less than 25 old ages old who are individual respondents which it can be concluded that most of them are immature enterprisers. The survey besides found instruction degree of respondents is a 1 of of import factor that can act upon the ownership of Life Insurance among respondents. With respects to combative issues that purpose of having Life Insurance, importance of merchandise features and company trueness reveals higher average tonss among other factors. This indicates that enterprisers will take the best insurance company to cover and provides them with the best coverage. Findingss from old survey by Huihui Wang, Factors Influencing Consumers ‘ Life Insurance Purchasing Decisions In China is related to demographic, cognition and trust, consumer profile and investing penchants and importance of merchandise properties. Although it is relevant to the survey, there are besides other variables are non been explored to explicate this issue. From this survey, it is apparent that all the factors that have been identified are of import but they have been rated otherwise. The factor considered most of import is company trueness. Regression analysis of this survey found that there is important relationship between company trueness and satisfaction degree with enterpriser ‘s purpose of having Life Insurance. This survey can be a great aid to suppliers ( insurance company ) and consumers. Suppliers can better upon the quality of its merchandises and services to pull more clients. This survey besides can be a great aid to the consumers as it was aimed at happening the of import factors that were preferred by the clients. For any organisation to win in this competitory universe it is necessary to cognize what its clients need from it and to carry through their outlook in best possible mode.

5.2 Recommendations

Based on the consequences of this survey, any Insurance Company can make their offerings in many ways as to pull clients and supply them with the best merchandise and services. Insurance Company will besides hold to planned and implement proactive schemes that are chiefly aimed at educating clients and promoting used of Life Insurance. Marketing aims of Insurance Company should be based on making consciousness, inform of the benefits inherent in Life Insurance and to act upon the buying determination. The survey can besides assist to measure the offerings of the supplier ‘s service to the clients.

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