Article Per Year (5 Year)
p-Index From 2021 - 2026
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This Author published in this journals
All Journal Journal Research of Social Science, Economics, and Management
Daniel Beltsazar Armagatlie
Sekolah Tinggi Ekonomi dan Bisnis Islam Lampung
Environmental Science

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The Dynamics of Sharia Financial Product Utilization and Literacy in Shaping Individual Financial Stability: A Case Study of Participants at PT Sinar Mas Asuransi Syariah Daniel Beltsazar Armagatlie; Reza Ronaldo; Tulus Suryanto; Pertiwi Utami
Journal Research of Social Science, Economics, and Management Vol. 6 No. 2 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v6i2.1703

Abstract

Individual financial stability depends not only on income and savings but also on the ability to utilize risk-protection instruments. This study aimed to examine how product understanding, perceived benefits, and Islamic financial literacy interact in shaping the financial stability of participants at PT Sinar Mas Asuransi Syariah. A qualitative single-case study was conducted from December 2025 to March 2026 involving 12 participants selected through purposive sampling. Data were collected through semi-structured interviews, observations, and documentation, and were analyzed thematically through coding, theme development, cross-informant comparison, and triangulation. The findings revealed varying levels of product understanding, ranging from basic or symbolic knowledge to a comprehensive understanding of protection functions and product suitability. Participants perceived tangible benefits through claim experiences and intangible benefits through a sense of security and preparedness for future risks. Islamic financial literacy was found to be low to moderate; most participants understood fundamental principles such as mutual assistance (ta’awun) and the prohibition of riba (usury), but had limited operational knowledge regarding contracts (akad), fund management, and protection mechanisms. Higher levels of product understanding and literacy enabled participants to select appropriate products and integrate insurance into their financial planning. The study concluded that Islamic insurance (asuransi syariah) contributes to financial stability most effectively when policy ownership is supported by practical financial literacy, transparent communication, and continuous participant education.
Co-Authors Pertiwi Utami Ronaldo, Reza Tulus Suryanto