期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2021
卷号：11
期号：8
页码：1819-1831
DOI：10.6007/IJARBSS/v11-i8/10745
语种：English
出版社：Human Resource Management Academic Research Society
摘要：Most people should have insurance to protect themselves from damage and financial instability, especially for those in low income group B40. The objective of this study is to suggested affordable life insurance premium for the B40 group using equivalence principle method. The study's findings show that group can choose between two affordable life insurance policies is either policy 1 or policy 2. Next objective is to create a user-friendly calculator that displays life insurance and Takaful policies available in Malaysia based on the B40 monthly household income. Microsoft Excel and Visual Basic for Application (VBA) are used to accomplish this objective. It hoped that this user-friendly interface developed in this study may assist low-income earners in identifying a suitable range of premiums they may afford to pay, thereby increasing the likelihood of purchasing life insurance and Takaful.
