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All Journal INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Jurnal Ekonomi Kuantitatif Terapan
Kadek Ayu Santhi Novitasari
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Economics, Econometrics & Finance

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DETERMINANTS OF HOUSEHOLD DECISIONS IN UTILIZING FINANCIAL INSURANCE SERVICES PRODUCTS Kadek Ayu Santhi Novitasari; Ni Made Tisnawati
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 11 (2024): November
Publisher : Adisam Publisher

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Abstract

Economic growth and insurance can create a causal relationship. Insurance is one way that households can use to help provide financial security. The insurance demand function is a representation of the level of insurance penetration. The insurance penetration rate in Indonesia in 2022 will only be 2.82%. The cause of low insurance penetration is low financial literacy, and is supported by household socio-economic characteristics. The aim of this research is to analyze the influence and magnitude of the influence of financial literacy, household income, number of dependents, education level, gender simultaneously and partially on household decisions in utilizing insurance financial service products in Denpasar City. The population in this study were households in Denpasar City. Data collection was carried out by taking a sample of 100 households in Denpasar City using a non-probability sampling technique which is purposive sampling. By using Binary Logistic Regression, the results of this study show that financial literacy, household income, number of dependents, education level and gender simultaneously influence household decisions in utilizing insurance financial service products. financial literacy, Household income, number of dependents, education level, and gender have a significant positive effect on household decisions in utilizing insurance financial service products.
The Effect Of Financial Literacy On Household Interest In Utilizing Insurance Financial Products Kadek Ayu Santhi Novitasari; Ni Putu Wiwin Setyari
Jurnal Ekonomi Kuantitatif Terapan Vol. 18 No. 1 (2025): Vol. 18, No. 1, Februari 2025 (pp.1-149)
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/JEKT.2025.v18.i01.P08

Abstract

Insurance is needed to provide financial protection. However, Household trust in insurancefinancial products and services is lower than in banking, especially in Bali Province. Financialliteracy is needed to increase trust in insurance financial services. This research aims to examinethe condition of financial literacy at the household level in Bali Province and analyze the influenceof financial literacy on household interest in utilizing insurance financial service products in BaliProvince. This research used a quantitative associative approach with survey data collectiontechniques using questionnaires. The data analysis technique for this research uses the formationof index numbers to measure the financial literacy index at the household level in Bali Provinceand Binary Logistic Regression to determine the influence of the independent and dependentvariables. The analysis results show that the financial literacy index in Bali province is in the highcategory, and financial literacy has a significant relationship with household interest in utilizinginsurance financial services.
Co-Authors Ni Made Tisnawati Ni Putu Wiwin Setyari