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CONSUMERS’ PERCEPTION ON TAKAFUL AND CONVENTIONAL INSURANCE

NOOR RINA BINTI MADZRI
(BF076868)

BACHELOR OF FINANCE (HONS.)
COLLEGE OF BUSINESS MANAGEMENT AND ACCOUNTING
UNIVERSITI TENAGA NASIONAL

2007

DECLARATION

I hereby declare that this project paper is my original work except for quotation and citations which have been duly knowledge and that it has not been previously or concurrently submitted for any other degree at University Tenaga Nasional or other institutions.

5 March 2006NOOR RINA BINTI MADZRI
BF076868

ACKNOWLEDGEMENT

During this course of this project paper, I have faced many obstacle and difficulties especially in choosing a topic and get the data. These problems would have hampered the progress of this project, had it not been for the active support of several individual. First of all, I want to thank to my supervisor Mr. Saravanan A/L Palaniappan who gave me guidance in order to finish up this project paper. Also thanks to my parent and my family that support me. Not forget to my entire friend, especially to Fauzullah bin Abdul Samat who helped me in distributing my questionnaires. Also for those who had answer my questionnaires. Thank you for your cooperation.

CONSUMERS’ PERCEPTION ON TAKAFUL AND CONVENTIONAL INSURANCE

ABSTRACT

This paper is to examine public perception on takaful and conventional insurance, to examine the factors that influence public decision to choose Takaful or Conventional insurance and lastly to examine whether or not individuals’ preference on the insurance policy were influenced by their demographic details. Sample of 88 respondents have been used in order to achieve the objectives. Reliability test scale, Crosstabulation of Descriptive Analysis and Chi-square Test of Independence or Relatedness have been use in this research to process the data. As a result, high return, premium price and well informed about the product are the major factors that influence them to choose the type of insurance. The result also shows that, individuals’ preference on the insurance policy is not influenced by their demographic details.

CONTENTS
Page
Declaration i Acknowledgment ii Abstract iii Table of Contents iv List of Tables iv List of Appendixes vii

CHAPTER
ONE INTRODUCTION
1.1 Introduction 1
1.2 Takaful 3
1.3 Problem statement 6
1.4 Objective of the study 6
1.5 Significant and Contribution of study 7
1.6 Limitation of the Study 7 1.7 Scope of study 7
1.8 Format of paper 7 TWO LITERATURE REVIEW
2.1 Overview of the Takaful and Conventional Insurance 8 THREE DATA AND METHODOLOGY
3.1 Data 20 3.2 Methodology 21
FOUR...
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