DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER

In the current living environment, health insurance has become an essential necessity, especially with the relentless pace of medical inflation. Unfortunately, a significant portion of the population remains without adequate coverage. This study focuses on Millennials in Malaysia, a population...

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Main Authors:	Liew, Ming Hwa, Shu, Swee Fang, Chong, Kim Mee, Mohammad, Farajnezhad
Format:	Article
Language:	English
Published:	INTI International University 2023
Subjects:	H Social Sciences (General) HF Commerce HJ Public Finance
Online Access:	http://eprints.intimal.edu.my/1873/ http://eprints.intimal.edu.my/1873/1/jobss2023_34.pdf

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author	Liew, Ming Hwa Shu, Swee Fang Chong, Kim Mee Mohammad, Farajnezhad
author_facet	Liew, Ming Hwa Shu, Swee Fang Chong, Kim Mee Mohammad, Farajnezhad
author_sort	Liew, Ming Hwa
building	INTI Institutional Repository
collection	Online Access
description	In the current living environment, health insurance has become an essential necessity, especially with the relentless pace of medical inflation. Unfortunately, a significant portion of the population remains without adequate coverage. This study focuses on Millennials in Malaysia, a population of around 11 million with the financial capability to afford health insurance. Apparently, millennials are born between 1981 and 1996 (ages 23 to 38 in 2019). Despite this, the actual insured population in Malaysia is only at 41%, signifying a lack of insurance protection. The key factors influencing health insurance purchase behavior among Millennials are examined in this research, including financial literacy, insurance premium affordability, and insurer brand equity. The research objectives in this study serve as the guiding pillars that shape the purpose of the investigation. The core focus of this research revolves around understanding the health insurance purchase behavior of Malaysia's Millennials. The objectives are designed to delve into the relationship between various key factors and this behavior. This research offers novel insights into the health insurance purchase behavior of Millennials in Malaysia. It highlights the financial literacy of individuals as a key driver in insurance decisions, emphasizing the need for financial education and literacy programs. Furthermore, the study underlines the importance of making insurance premiums more affordable to encourage participation. Finally, it reinforces the value of insurer brand equity in attracting Millennials to health insurance, prompting insurance providers to focus on building and maintaining their brand reputation.
first_indexed	2025-11-14T11:57:50Z
format	Article
id	intimal-1873
institution	INTI International University
institution_category	Local University
language	English
last_indexed	2025-11-14T11:57:50Z
publishDate	2023
publisher	INTI International University
recordtype	eprints
repository_type	Digital Repository
spelling	intimal-18732023-12-11T08:18:41Z http://eprints.intimal.edu.my/1873/ DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER Liew, Ming Hwa Shu, Swee Fang Chong, Kim Mee Mohammad, Farajnezhad H Social Sciences (General) HF Commerce HJ Public Finance In the current living environment, health insurance has become an essential necessity, especially with the relentless pace of medical inflation. Unfortunately, a significant portion of the population remains without adequate coverage. This study focuses on Millennials in Malaysia, a population of around 11 million with the financial capability to afford health insurance. Apparently, millennials are born between 1981 and 1996 (ages 23 to 38 in 2019). Despite this, the actual insured population in Malaysia is only at 41%, signifying a lack of insurance protection. The key factors influencing health insurance purchase behavior among Millennials are examined in this research, including financial literacy, insurance premium affordability, and insurer brand equity. The research objectives in this study serve as the guiding pillars that shape the purpose of the investigation. The core focus of this research revolves around understanding the health insurance purchase behavior of Malaysia's Millennials. The objectives are designed to delve into the relationship between various key factors and this behavior. This research offers novel insights into the health insurance purchase behavior of Millennials in Malaysia. It highlights the financial literacy of individuals as a key driver in insurance decisions, emphasizing the need for financial education and literacy programs. Furthermore, the study underlines the importance of making insurance premiums more affordable to encourage participation. Finally, it reinforces the value of insurer brand equity in attracting Millennials to health insurance, prompting insurance providers to focus on building and maintaining their brand reputation. INTI International University 2023-12 Article PeerReviewed text en cc_by_4 http://eprints.intimal.edu.my/1873/1/jobss2023_34.pdf Liew, Ming Hwa and Shu, Swee Fang and Chong, Kim Mee and Mohammad, Farajnezhad (2023) DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER. Journal of Business and Social Sciences, 2023 (34). pp. 1-6. ISSN 2805-5187 http://ipublishing.intimal.edu.my/jobss.html
spellingShingle	H Social Sciences (General) HF Commerce HJ Public Finance Liew, Ming Hwa Shu, Swee Fang Chong, Kim Mee Mohammad, Farajnezhad DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER
title	DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER
title_full	DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER
title_fullStr	DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER
title_full_unstemmed	DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER
title_short	DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER
title_sort	determinant factors on health insurance purchase behaviour of millennials in malaysia: a conceptual paper
topic	H Social Sciences (General) HF Commerce HJ Public Finance
url	http://eprints.intimal.edu.my/1873/ http://eprints.intimal.edu.my/1873/ http://eprints.intimal.edu.my/1873/1/jobss2023_34.pdf

DETERMINANT FACTORS ON HEALTH INSURANCE PURCHASE BEHAVIOUR OF MILLENNIALS IN MALAYSIA: A CONCEPTUAL PAPER

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