An Overview of Demand for Life Insurance in Malaysia
Mohamad Idham Md Razak, Siti Hawa Kasim, Raihan Md Ghazali, Sheela Paramasivam, Dr. Geraldine John Philip De Mello

Abstract
Life Insurance plays an important role in individuals and families financing lives because it is a hedge against the loss of income following the death of a wage earner. The use of life insurance is to insure against lifetime uncertainty resulting for the mortality risk of individuals. The growth of the services sector in the Asian economies, led to substantial changes in the financial sector. The Asian Financial Crisis, affecting the ASEAN economies in particular resorted to more regulatory measures to enhance delivery of products with minimal risks and failures. The countries surrounding the ASEAN economies also went through a phase of economicrestructuring and the most notable event being the impact of China’s accession to WTO. Although the regions’ insurance industry was not so badly affected by the financial crisis, but reforms started after 1990s. Regulatory changes allowing private and foreign entry have been luring global heavyweight insurance companies to enter these economies. As more and more suppliers enter these markets, the important issue is to examine the factors that enhance demand for insurance products. This research is conducted in order to ascertain the factors that influence the demand on life insurance. This research basically focuses on the walk in customer at Etiqa Insurance & Takaful b r a n c h e s all over Malaysia. The researcher tried to clarify what factors that can influence demand of life insurance. The researcher had narrowed to 100 and randomly chosen respondents as the data sampling in order to get information regarding those factors.

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