Family Takaful Case Study

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Abstract Family Takaful was one of the financial instrument that benefit people. However, the participant of the Family Takaful was still little. Family Takaful was one of alternative for a Muslim in getting Shariah complaint as compared to the conventional life insurance. The Muslim needs to follow the Shariah stated by Allah where all the transactions or business must be halal and clean from prohibited element. The life insurance was containing the prohibited element such as gharar (uncertainty), maisir (gambling) and riba (interest rate). Thus, a Muslim must switch to Shariah complaint transaction which more transparent and follow Islam guidance. The problem nowadays, a number of people consume the Family Takaful was lower. Thus, this research was conducted to determine the demographic factors that influence the demand for Family Takaful. The study found out that marital status has the biggest influence in affecting the demand for Family Takaful in society.…show more content…
Takaful Company Takaful company need to focus for those who are married in order for them to increase the percentage of demand for Family Takaful as demand of Family Takaful among married people are high. Takaful company also should focus to attract those women outside there to purchase Family Takaful as the result of this study showed that demand for Family Takaful is high among women. Lastly, the Takaful company needs to provide more campaign and providing exposure about Family Takaful to Malaysian as thare are many people that still do not aware with the existence of Family Takaful. 2. Future Researcher To those future researcher who might interested in doing research related to this topic can find other independent variable than income level, education level, marital status, age, gender and household/family. The future researcher also can increase the size of the research by increasing the number of respondents in order to get better result regarding demand for Family

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