Publication: FACTORS INFLUENCING PURCHASE INTENTION FOR PERSONAL HEALTH INSURANCE (PHI) AND INCOME LEVEL’S MODERATING EFFECT ON THE PURCHASE DECISION OF PERSONAL HEALTH INSURANCE (PHI)
Date
2025
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IMU University
Abstract
The public health system in Malaysia is overworked and underfunded, which ultimately causes the private health industry to provide personal health insurance. The insurance industry has direct relevance to the research topic. This study focuses on Personal Health Insurance (PHI) — a product directly offered and managed by insurance companies and Takaful operators. Purchase intention and purchasing decisions fall squarely within the core business operations of insurance product sales, customer acquisition, and policy retention. Therefore, understanding the factors influencing PHI purchase is strategically important for insurance companies to improve product design, marketing strategies, and sales effectiveness. There are frequent and long waiting periods for public health services, due to this, many patients choose to get personal health insurance to avoid the long waiting periods in public health services. Investigating the link between attitude, perceived usefulness, and insurance literacy and the intention to get personal health insurance, as well as the moderating influence of income level on the decision to purchase PHI, is the goal of this study. There are 218 participants in this quantitative study that uses non-probability convenience sampling. Distribution of online surveys with question items modified from earlier research like Al Mamun et al. (21) & Nomi & Sabbir (25) was used to gather data. Prior to the start of extensive data collecting, a PILOT Test was carried out to guarantee the questionnaire's dependability. Initial testing was conducted to assess the data's dependability. The data was compiled and analyzed using SPSS software, and the Multiple Regression Testing as well as Chi-Squared Test measurement was utilized to test the hypothesis. The findings of this study was conducted in Malaysia to indicate that insurance literacy has no significant link with purchasing intention towards PHI. However, attitude and perceived usefulness has a significant link with purchasing intention towards PHI. Regarding the income level, there are various mitigating factors that influenced the decision to purchase PHI. In light of this study, several suggestions were made for further investigation.
Keywords: factors influencing purchase intention, attitude, perceived usefulness, insurance literacy, personal health insurance (PHI), income level, moderating effect, purchase decision
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Insurance, Health, Income, Attitude, Malaysia, Insurance, Evaluation Studies as Topic, Surveys and Questionnaires