Citation

Lee, Hui Shan and Kuang, Kee Seng (2025) From Anxiety to Action: Understanding Financial Worries and Strategies to Boost Insurance Take-Up. International Journal of Management, Finance and Accounting, 6 (2). pp. 341-374. ISSN 2735-1009

Text 14906.pdf - Published Version Restricted to Repository staff only Download (425kB)

Abstract

In developing countries, inadequate insurance and financial planning have led experts to call for government intervention to avoid potential financial crises. In Malaysia, where increasing insurance uptake is a national priority, this study examines how education and socioeconomic factors influence financial concerns. Using a regression model, this study analyses data from 1,000 survey responses from Malaysia in the Global Findex database, examining the effects of education, income, gender, age, and urbanicity on various financial worries, including retirement, medical expenses, monthly bills, and education costs. Findings show that higher education levels are associated with reduced financial anxiety around medical expenses and monthly bills, while income and age significantly impact all financial worry areas. The study highlights the potential of incorporating insurance awareness and financial literacy into education to improve financial well-being and build a more resilient society. The novelty of this study highlights the need for targeted insurance policies that address the specific financial concerns of diverse socio-economic groups.

Item Type:	Article
Uncontrolled Keywords:	Education, financial worries, socio-economics
Subjects:	H Social Sciences > HG Finance L Education > LB Theory and practice of education > LB1025-1050.75 Teaching (Principles and practice)
Depositing User:	Nurin Syazwani Azmi
Date Deposited:	11 Nov 2025 04:04
Last Modified:	11 Nov 2025 04:04
URII:	http://shdl.mmu.edu.my/id/eprint/14906

Downloads

Edit (login required)