Acceptance of Takaful among the millennials: A study based in Kedah

The emergence of Takaful in Malaysia has been started since 1984, when the legal frameworks for Takaful to be developed were written. According to the department of Statistic Malaysia, Kedah was ranked second last in the household income which make the adopting of Takaful maybe consider low. This also can be looked at the capability of millennials in Kedah whether they understand or not about Takaful due to the environment they stayed is most likely to rural area. Thus, this study aim to analyse the factors towards the acceptance of Millennials generation towards the Takaful Product. This study used the method of quantitative approach through the distribution of questionnaires. There are 200 respondents around Kedah that has been chosen to answer the questionnaires. Their answers were analysed using SPSS version 27. The results shows that attitude, subjective norms, perceive behavioural control, religious obligation and pricing of product is significant and have positive relationship towards the acceptance of Takaful among millennials in Kedah. This study has empirically contributed towards the understanding factors of acceptance of Takaful among millennials towards the Takaful. Therefore, this study is expected to contribute towards the academic institution as well as Takaful operator companies to understand and develop a better Takaful product in the future.