Factors Influencing Purchase Intention of Life Insurance among Gen-Y in Malaysia

The objective of this research is to investigate the factors that influence the decision-making of prospective buyers of life insurance among generation Y. Specifically, the study attempts to examine the intention of Generation Y to purchase life insurance as the dependent variable and the independent variables such as attitude, social influence, income, and knowledge. The theory underpinning the theory of the study is the Theory of Planned Behaviour. The research method used was an online survey questionnaire was administered using convenience sampling in collecting the data. The respondent can be anyone aged between twenty years to forty years old and stayed in Malaysia. A total of 384 samples were successfully collected, and the data obtained was analyzed using the Statistical Package for the Social Sciences (SPSS). Inference analyses based on regression analysis were used to examine the relationship that exists between the variables of interest and the dependent variables could be determined. The findings of this research indicate that there is a statistically significant relationship between the intention to buy life insurance with the four independent variables; attitude, social influence, income, and knowledge. This research implies the practitioners as this is a scarce finding, especially in the field of life insurance in Malaysia. The other contribution to the academician is discussed along with some limitations and recommendations of this study.