The The Effect of Financial Literacy on Household Interest in Utilizing Insurance Financial Products
Abstract
Insurance is needed to provide financial protection. However, Household trust in insurance financial products and services is lower than in banking, especially in Bali Province. Financial literacy is needed to increase trust in insurance financial services. This research aims to examine the condition of financial literacy at the household level in Bali Province and analyze the influence of financial literacy on household interest in utilizing insurance financial service products in Bali Province. This research used a quantitative associative approach with survey data collection techniques using questionnaires. The data analysis technique for this research uses the formation of index numbers to measure the financial literacy index at the household level in Bali Province and Binary Logistic Regression to determine the influence of the independent and dependent variables. The analysis results show that the financial literacy index in Bali province is in the high category, and financial literacy has a significant relationship with household interest in utilizing insurance financial services.
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References
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Blaschke, J. (2022) ‘Gender differences in financial literacy among teenagers - Can confidence bridge the gap?’, Cogent Economics and Finance, 10(1). Available at: https://doi.org/10.1080/23322039.2022.2144328.
Buchori, A. et al. (2022) ‘Pengaruh Literasi Keuangan dan Kepercayaan terhadap Minat Beli Produk Asuransi di Kalangan Mahasiswa’, Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan, 11(2), pp. 80–89. Available at: https://ejournal.unp.ac.id/index.php/ekosains/article/view/120707 (Accessed: 20 November 2023).
Dorkas Rambu Atahau, A. et al. (2023) ‘Financial literacy and sustainability of rural microfinance: The mediating effect of governance’, Cogent Economics and Finance, 11(2). Available at: https://doi.org/10.1080/23322039.2023.2230725.
Jin, J. et al. (2021) ‘Does Citizens’ Financial Literacy Relate to Bank Financial Reporting Transparency?’, European Accounting Review, 30(5), pp. 887–912. Available at: https://doi.org/10.1080/09638180.2021.1965897.
Lotto, J. (2020) ‘Understanding sociodemographic factors influencing households’ financial literacy in Tanzania’, Cogent Economics & Finance, 8(1). Available at: https://doi.org/10.1080/23322039.2020.1792152.
Muhammad, T., Rochaida, E. and Fitriadi (2015) ‘Pengaruh Investasi Dan Ekspor Terhadap Pertumbuhan Ekonomi Serta Penyerapan Tenaga Kerja Provinsi Kalimantan Timur’, Jurnal Ekonomi Kuantitatif Terapan [Preprint]. Available at: https://doi.org/10.24843/JEKT.2014.V07.I02.P02.
Noor, N. et al. (2020) ‘Financial literacy, financial self-efficacy and financial account ownership behavior in Pakistan’, Cogent Economics and Finance, 8(1). Available at: https://doi.org/10.1080/23322039.2020.1806479.
Otoritas Jasa Keuangan (2022) Infografis Hasil Survei Nasional Literasi dan Inklusi Keuangan Tahun 2022, (Online). Available at: https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Pages/Infografis-Survei-Nasional-Literasi-dan-Inklusi-Keuangan-Tahun-2022.aspx (Accessed: 20 November 2023).
Otoritas Jasa Keuangan (2023) Prospek Insurtech di Indonesia, (Online). Available at: https://www.ojk.go.id/ojk-institute/id/capacitybuilding/upcoming/1381/prospek-insurtech-di-indonesia (Accessed: 20 November 2023).
Parulian, P. and Aminnudin, M. (2020) ‘Pengaruh Literasi Keuangan dan Modal Minimal Terhadap Minat Investasi pada Mahasiswa’, Jurnal Pengembangan Wiraswasta, 22(02), pp. 131–140. Available at: https://doi.org/10.33370/JPW.V22I02.417.
Puelz, D. and Puelz, R. (2022) ‘Financial Literacy and Perceived Economic Outcomes’, Statistics and Public Policy, 9(1), pp. 122–135. Available at: https://doi.org/10.1080/2330443X.2022.2086191.
Sakyi-Nyarko, C., Ahmad, A.H. and Green, C.J. (2022) ‘The Gender-Differential Effect of Financial Inclusion on Household Financial Resilience’, Journal of Development Studies, 58(4), pp. 692–712. Available at: https://doi.org/10.1080/00220388.2021.2013467.
Solihin, L. et al. (2019) Indeks Aktivitas Literasi Membaca 34 Provinsi. Pusat Penelitian Kebijakan Pendidikan dan Kebudayaan, Badan Penelitian dan Pengembangan, Kementerian Pendidikan dan Kebudayaan. Available at: https://litbang.kemdikbud.go.id (Accessed: 21 November 2023).
Wahono, C. and Leng, P. (2022) ‘PENGARUH LITERASI KEUANGAN DAN RISK ATTITUDE TERHADAP KEPEMILIKAN ASURANSI JIWA’, Jurnal Administrasi Bisnis, 18(1), pp. 17–35. Available at: https://doi.org/10.26593/JAB.V18I1.5471.17-35.
Wellyanti, B. (2019) ‘Peramalan Produk Domestik Regional Bruto (PDRB) Provinsi Bali Triwulanan (Q-to-Q) Tahun Dasar 2010 dengan Model Arima’, Jurnal Ekonomi Kuantitatif Terapan, 12(1), pp. 63–72. Available at: https://doi.org/10.24843/JEKT.2019.V12.I01.P07.
Xu, S. et al. (2022) ‘Does Financial Literacy Affect Household Financial Behavior? The Role of Limited Attention’, Frontiers in Psychology, 13, p. 906153. Available at: https://doi.org/10.3389/FPSYG.2022.906153/BIBTEX.
Published
2025-02-26
How to Cite
NOVITASARI, Kadek Ayu Santhi; SETYARI, Ni Putu Wiwin.
The The Effect of Financial Literacy on Household Interest in Utilizing Insurance Financial Products.
Jurnal Ekonomi Kuantitatif Terapan, [S.l.], v. 18, n. 1, p. 123-133, feb. 2025.
ISSN 2303-0186.
Available at: <https://ojs.unud.ac.id./index.php/jekt/article/view/109566>. Date accessed: 22 apr. 2025.
doi: https://doi.org/10.24843/JEKT.2025.v18.i01.p09.
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Articles
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